Trump signs order aimed at reducing single-family housing costs
SPY•President Donald Trump signed an executive order aimed at reducing single-family home ownership and mortgage costs. It directs federal agencies to change mortgage insurance and title insurance policies, expand eligible manufactured housing and reduce interest rates on some government-issued home loans.
1. Order directs agency changes
The order instructs the Federal Housing Finance Agency to launch a pilot that would proactively cancel borrowers’ mortgage insurance premiums once they meet equity requirements based on current market value. It also directs the agency to make permanent a pilot waiving title insurance on refinancings.
2. Other housing measures
The order creates a task force on manufactured housing innovation to expand factory-built housing eligible for federal programs. It directs the agriculture and veterans affairs secretaries to reduce interest rates on single-family home loans issued by their departments.
