Despite a record surge in mortgage refinancing, the thrift industry managed to hold its net losses on mortgage servicing rights to “only” $1.03 billion during the second quarter of 2003, according to new data from the Office of Thrift Supervision. That was the third biggest quarterly loss on MSRs ever booked by the thrift industry, but it was less than half the stiff $2.16 billion deficit recorded in the third quarter of last year.