Mortgage servicing profits continued to come under heavy strain in 2003 as workflow burdens increased and the asset’s financial performance suffered in a volatile market. According to the Mortgage Bankers Association 2003 Cost Study, the average company last year lost $24.2 million on its servicing operations. That was 28 percent worse than the average $18.9 million servicing loss posted in the previous year, as 2003 marked the third straight year of negative profitability on mortgage…