New business in Fannie Mae and Freddie Mac mortgage-backed securities operations fell slightly during the third quarter of 2015, including larger declines among nonbanks and small depository institutions. Fannie and Freddie securitized $223.5 billion of single-family mortgages during the third quarter, a 3.8 percent drop from the previous period, according to a new Inside The GSEs ranking and analysis. Through the first nine months of 2015, GSE MBS issuance was 42.2 percent higher than the same period last year, although the annual total is likely to fall short of the $900 billion mark when the year ends. The nonbank share of GSE business fell slightly from the second quarter, snapping a long period of growth for independent mortgage bankers.