The U.S. regulator for mortgage servicers on Wednesday loosened the timing requirements for communicating with struggling borrowers under new rules that take effect later this month to help prevent wrongful home foreclosures. The Consumer Financial Protection Bureau said last year it would begin requiring servicers, the conduits for mortgage payments, to grant certain foreclosure protections to struggling borrowers more than once over the lives of their loans and to give borrowers in bankruptcy information on possible interventions.
