The major commercial banks involved in the mortgage servicing business reported significant gains in profitability and rising market values for their mortgage servicing rights in the second quarter. According to a new Inside Mortgage Profitability analysis of the top 40 commercial banks in terms of MSR holdings, profits rose an average 59 percent during the second quarter. After reporting a combined $937.4 million in servicing revenue in the first quarter – net of impairment and hedging…