President Trump signs executive order aimed at expanding mortgage relief programs

President Donald Trump has signed an executive order aimed at expanding mortgage-related relief programs. VitalLaw.com reported that the White House announced directives within the order for several federal agencies. The order targets regulations and mortgage processes to reduce costs for homebuyers. [1][7]

According to VitalLaw.com, the executive order directs the Federal Housing Finance Agency to create a mortgage-insurance cancellation pilot program. The agency was also instructed to make its existing title-insurance-waiver pilot into a permanent program. VitalLaw.com added that the order targets unnecessary regulations and outdated mortgage practices. [1]

The executive order includes instructions for the Department of Agriculture and the Department of Veterans Affairs. VitalLaw.com reported that both departments have been directed to reduce single-family home-loan rates for borrowers. [1]

An executive order is a legal instrument issued by the executive branch of a government under authority granted by law. As FTMQ Politics reported earlier, the administration previously directed federal agencies to lower mortgage costs, streamline regulations, and support manufactured housing development ahead of the upcoming midterm elections. [9][12]