Most mortgage bankers had a less profitable year in 2004 even though their servicing operations managed to turn a profit for the first time since 2000, according to the Mortgage Bankers Association annual cost study. Overall, the average firm reported $23.0 million in pre-tax net financial income during 2004, down from $60.7 million in the previous year, the MBA said. That’s the lowest overall net since the average $21.1 million reported for 2000.