The Federal Reserve is urging service companies to work with borrowers in danger of defaulting on their home mortgages.

Fed urges loan holders to avoid defaults (The San Luis Obispo Tribune)
The Federal Reserve and other banking regulators issued special guidance Tuesday urging loan service companies to work with borrowers in danger of defaulting on their home mortgages. The new guidelines are not mandatory, but the regulators expressed the hope that companies that collect payments on mortgages would heed the advice. Sheila Bair, chairman of the Federal Deposit Insurance Corp., said ...