“The service industry is back in the black,” declared Thomas Healy, president of Predictive Data, during the Institute for Intergovernmental Research’s MSR conference in Chicago. He based the conclusion on the Mortgage Bankers Association’s 2004 cost study, which showed servicers returning to profitability after sinking into the red during 2003. Healy acknowledged that the 2005 results have not yet been released, although he expected them to...