The GSEs’ share of the mortgage origination market hit a six-year low during the third quarter of 2004, as slumping production and the growing popularity of adjustable-rate products sent much less business to Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. According to data gathered by Inside The GSEs, the enterprises accounted for less than 40 percent of total originations through the first three quarters of 2004. During the nine-month period, GSE mortgage…