Top commercial banks in the mortgage servicing business reported generally lower valuations for their MSR assets, but improving profits, during the second quarter. According to an Inside Mortgage Profitability analysis of call report data, the 40 largest commercial banks in mortgage servicing reported a combined $2.32 billion in servicing fee income during the second quarter. That was up from $1.62 billion during the first three months of 2005 and $1.92 billion back during the second… [One data table included]