The Federal Housing Finance Agency banned banks and mortgage servicers in June from accepting commissions on force placed insurance policies issued by affiliated companies. But at least one servicer has found a way around the ban by selling an insurance-agent affiliate to a company it has close ties with.

Benjamin Lawsky, the superintendent of New York's Department of Financial Services, is the first regulator to question the move by Ocwen Financial. Consumer advocates expect federal and state regulators will crack down on servicers and insurers that try to go around the ban. The rule is meant to prevent kickbacks that encourage overcharging of borrowers.

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