Amortization, Impairment Expenses Swamp Gains in Servicing Operating Income in 2002 Accounting requirements turned an otherwise improving profitability outlook for mortgage servicing operations into a significant loss during 2002, according to detailed financial data recently released by the Mortgage Bankers Association. The MBA’s annual cost study found that average net operating income per loan serviced rose from $299 in 2001 to $325 in 2002, the latest year for which data are available.