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- October 23, 20268°
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Trump signs executive order aimed at lowering mortgage and homeownership costs
President Donald Trump signed an executive order on Thursday directing federal agencies to cut mortgage insurance and title costs for eligible borrowers and to ease rules for factory-built homes.
President Donald Trump signed an executive order on Thursday aimed at reducing regulatory barriers in mortgage lending and lowering the costs that make it harder for Americans to buy a home.
The order asks the Federal Housing Finance Agency to direct Fannie Mae and Freddie Mac to set up a pilot program allowing eligible borrowers to cancel excess mortgage insurance early. It also calls for expanding a title acceptance pilot nationwide, which would let lenders use automated reviews instead of title insurance policies on qualifying refinance transactions.
The order creates a Manufactured Housing Innovation Task Force to support modern production methods for factory-built homes and eliminate duplicative federal inspections. The task force has 180 days to deliver recommendations to the president on encouraging affordable housing production and standardizing permitting.
The secretaries of agriculture and veterans affairs were also directed to lower interest rates on single-family home loans issued directly by their departments.
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