Trump Signs Executive Order to Lower Housing Costs: Proactive Mortgage-Insurance Cancellation Pilot and a Manufactured Housing Task Force
WASHINGTON — President Donald Trump signed the executive order "Decreasing Housing Costs for the American People" at the White House on October 22. The order sets administration policy as reducing regulatory barriers and costs in mortgage origination, embracing new risk and valuation technologies, and promoting competition across the housing and mortgage market.
On mortgage insurance, the order directs the Director of the Federal Housing Finance Agency (FHFA), where he determines it is in the best interests of Fannie Mae, Freddie Mac and the American public, to have the two enterprises establish a pilot program. For single-family loans made after the pilot begins, the enterprises are to periodically review loans using automated valuation models and other data, identify borrowers who appear to meet equity and other requirements, and proactively cancel their mortgage insurance. Servicers must promptly notify borrowers and reduce unnecessary documentation requests, appraisal costs and other administrative barriers.
The order also establishes a Task Force on Manufactured Housing Innovation, co-chaired by the Secretary of Housing and Urban Development and the FHFA Director, with the Secretaries of Agriculture, Commerce and Veterans Affairs as members. Within 180 days, the task force must submit recommendations to the President, including reciprocal recognition of specifications, certifications, inspections and approvals across federal housing programs, elimination of federal requirements and duplicative reviews that impede modular and factory-built housing, use of federal financing tools to encourage production of affordable manufactured homes, and an evaluation of conditioning federal grants on state and local adoption of standardized permitting.
On title insurance, the order directs the FHFA to expand the title acceptance pilot into an ongoing nationwide program under which the enterprises may accept an FHFA-approved automated title review in lieu of a lender's title insurance policy on eligible refinances, considering raising the current 80 percent loan-to-value limit and removing geographic limitations, with cost savings required to be passed through to borrowers. The Secretaries of Agriculture and Veterans Affairs are directed to reduce interest rates on their departments' direct single-family home loans. The order builds on Executive Order 14394 of March 13, 2026, "Removing Regulatory Barriers to Affordable Home Construction."
Source: GSM · USA (original Chinese edition)
Photo: GSM 行政令统一模板（美国总统行政令）
