Cost-cutting, less set aside for bad loans and investment banking helped propel JPMorgan Chase and Wells Fargo to record profits in the first quarter, but Wall Street was disappointed primarily by signs of a slowdown in lending and declining mortgage revenue.

Mortgage servicers face a March 15 deadline to make initial cash payments into a specical fund from which qualified borrowers will be compensated for wrongful foreclosure actions taken in 2009 and 2010, according to the most recent consent orders between the lenders and bank regulators.

Despite billions in foreclosure settlements between government officials and the big banks, tragic stories of abuses or botched paperwork are still surfacing as in the case of Larry Delassus, whose heart stopped beating in court as his attorney argued on his behalf in a lawsuit against Wells Fargo.