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• WASHINGTON (AP) -- The government's consumer lending watchdog proposed new rules Friday aimed at protecting homeowners from unexpected costs and shoddy service by companies that collect their monthly mortgage payments.
• Mortgage servicing companies would be required to provide clear monthly billing statements, warn borrowers before interest rate hikes and actively help them avoid foreclosure under the proposal by the Consumer Financial Protection Bureau. The rules also require companies to credit people's payments promptly, swiftly correct errors and keep better internal records.
• "The major failures in this industry demonstrate that all servicers need to meet basic standards of good customer service," CFPB Director Richard Cordray said in a call with reporters. He said the proposal reflects "two basic, common-sense standards -- no surprises and no runarounds."
• Mortgage servicers are central players in the nationwide housing crisis because they are responsible for foreclosing on homes when people fail to make payments. They have faced withering criticism for practices including charging excessive fees, foreclosing without completing the required paperwork and failing to help people stay in their homes by changing their loan terms.
• Under the rules, companies would be required to provide billing statements that explain how much of a payment is going to pay down principal, how much to interest

and how much to fees. If an interest rate was set to adjust, the borrower would receive an early estimate of the new payment amount. That would allow people to consider refinancing if they don't like the new rates.
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• LONDON (AP) -- As far as Usain Bolt is concerned, it's a done deal.
• "I'm a legend now," he said.
• But these Olympics aren't quite finished. And neither is he.
• With the 200-meter gold medal in his pocket after a winning run of 19.32 seconds Thursday night, The World's Fastest Man now gets ready for the 4x100 relay. If he can lead the Jamaicans to a victory there, he'll be 3 for 3 at these Olympics, same

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