Online mortgage originations totaled approximately $703 billion in 2004, down sharply from the boom year of 2003, according to a new analysis and ranking by Inside Mortgage Technology. The survey found that Countrywide Financial Corp. continues to maintain a wide lead over its competitors in Internet-based originations. In fact, the California-based lender’s estimated total online volume of $240 billion constituted more than one-third of the market. Its nearest rival, CitiMortgage, posted volume of $50 billion…