New production of CMOs and REMICs backed by agency pass-throughs declined by 5.9 percent during the second quarter of 2005, edging down to $68.42 billion. That left year-to-date issuance of agency-backed structured deals at just $141.09 billion, off 52.1 percent from the first six months of 2004. The biggest decline was in the Ginnie Mae program, where issuance through June reached just $15.29 billion, down 44.3 percent from year-ago levels. …