The Consumer Financial Protection Bureau this week updated certain provisions in its complex new mortgage servicing rules, most notably the interplay between the servicing rules and the U.S. bankruptcy code, and the Fair Debt Collection Practices Act. “As servicing implementation enters its final phases, we heard from many sources that it was important to address these remaining issues to ensure a smooth transition and provide certainty to the market,” said CFPB Director Richard Cordray. “When mortgage servicers better understand the rules they have to follow, that is better for consumers.” One of the latest hot buttons to emerge regarding the servicing rules has been...