Mortgage replenishment rates – a measure of a lender’s ability to build up its servicing portfolio with new production – fell sharply in 2004 as the origination boom of 2003 disappeared, a new analysis by Inside Mortgage Finance reveals. The replenishment rate for the entire market fell from 53.9 percent in 2003 to 35.6 percent in 2004. The rate for the top 15 servicers was somewhat higher at 39.1 percent, but that figure represents…