BankThink

Use of banks' mobile apps and websites has risen about a third since the coronavirus crisis began, according to J.D. Power.

The FHFA's director said the announcement is meant to “combat ongoing misinformation” about efforts to let homeowners skip mortgage payments due to the coronavirus pandemic.

Lenders and small businesses are hoping this round goes more smoothly than the chaotic first one (and if it doesn't, Joe Biden warns, many mom-and-pop shops are done for); originators are adding staff, cutting marketing to handle massive uptick in refinance applications.

The billionaire investor and entrepreneur sees problems with small businesses having to apply for loans to get coronavirus relief. He says a more efficient approach would be to let them run negative balances on their bank accounts.

The bureau said it began developing the standards before the coronavirus pandemic. But more transfers may occur as some servicers struggle to meet their obligations during their economic downturn.