Trump signs executive order targeting mortgage insurance, manufactured housing and more

President Donald Trump signed an executive order on Thursday directing federal housing agencies to pursue measures aimed at reducing mortgage and homeownership costs, including proactive mortgage insurance cancellation, lower refinancing expenses and reduced interest rates on certain government loans. The order, titled “Decreasing Housing Costs for the American People,” also establishes a task force focused on manufactured housing and directs it to recommend ways to streamline federal requirements and encourage modern construction methods. Rumors of an impending executive order circulated last week during the Mortgage Bankers Association’s Annual Convention & Expo in Chicago, where attendees expected Federal Housing Finance Agency Director Bill Pulte to discuss potential initiatives. But Pulte canceled his appearance to travel with Trump. HousingWire reviewed a draft of the order ahead of its official release after obtaining it from three sources on Monday evening. What’s in the order? The White House said the order is intended to reduce regulatory barriers, lower closing costs, and promote innovation across the housing and mortgage markets. “Unnecessary regulatory requirements...