New issuance of real estate mortgage investment conduits backed by agency mortgage collateral edged slightly higher in the first three months of 2005, according to a new analysis and ranking by Inside MBS & ABS. A total of $72.67 billion of agency-backed REMICs were issued in the first quarter, up 5.2 percent from the previous quarter. The early 2005 pace was down 1.3 percent from the same period in 2004, however, as both Freddie Mac…