White House / President·Economy
Trump order targets mortgage insurance, title insurance and permitting to lower housing costs
An executive order Trump signed Thursday tells the Federal Housing Finance Agency, if its director finds it appropriate, to have Fannie Mae and Freddie Mac pilot proactive cancellation of mortgage insurance for borrowers with enough equity, and to expand a program accepting automated title reviews instead of lender's title insurance on refinances, according to the White House. The order also creates a Task Force on Manufactured Housing Innovation to recommend within 180 days how to cut federal barriers to factory-built homes, and directs the Agriculture and Veterans Affairs departments to lower rates on their direct home loans.
Sources
- The White HouseDecreasing Housing Costs for the American People