New production of Fannie Mae and Freddie Mac mortgage pass-throughs dropped sharply in the fourth quarter of 2005, with combined volume tumbling 12.8 percent from the previous period, according to a new ranking and analysis by Inside MBS & ABS. The two government-sponsored enterprises combined for $864.64 billion of new MBS issuance during 2005, with Freddie Mac capturing a 43.5 percent share of that market. … [One data table included]