Trump Signs Order to Cut Mortgage and Title Insurance Costs
President Trump signed Executive Order 14438 to reduce mortgage and title insurance costs.
Why it matters: This order may lead to regulatory changes affecting legal and financial professionals in real estate, potentially lowering costs for borrowers and reshaping industry practices.
- Executive Order 14438 signed on October 22, 2026, focuses on decreasing housing costs.
- The Federal Housing Finance Agency (FHFA) will launch a pilot program for proactive mortgage insurance cancellation.
- FHFA must expand an existing title acceptance pilot to a nationwide program for refinance transactions.
- A Task Force on Manufactured Housing Innovation is established with a 180-day deadline for recommendations.
On October 22, 2026, President Donald Trump signed Executive Order 14438, titled "Decreasing Housing Costs for the American People." The order directs federal agencies to reduce costs associated with mortgage and title insurance to improve housing affordability.
The Federal Housing Finance Agency (FHFA) will implement a pilot program focused on proactive mortgage insurance cancellation for future loans that meet specific equity and other criteria. This change aims to lower ongoing mortgage insurance expenses for qualifying borrowers.
Additionally, the FHFA is tasked with expanding an existing title acceptance pilot program nationwide for eligible refinance transactions. This expansion could introduce alternatives to traditional lender's title insurance, potentially reducing title insurance costs.
The order also establishes a Task Force on Manufactured Housing Innovation, co-chaired by the HUD Secretary and FHFA Director. The task force must deliver recommendations within 180 days to further reduce housing costs.
Beyond the FHFA, the Secretaries of Agriculture and Veterans Affairs are directed to consider reducing interest rates on single-family home loans offered by their departments.
Regulatory expert Emily Jones from the Housing Policy Institute noted, "This executive order signals a federal push to address longstanding cost barriers in housing finance, which legal professionals involved in real estate transactions should monitor closely."
Bill Owens, Chairman of the National Association of Home Builders (NAHB), said, "The president's executive order will help reduce single-family housing and mortgage costs," highlighting expected industry impacts.
By the numbers:
- 180 days — deadline for the Task Force on Manufactured Housing Innovation to report recommendations
- October 22, 2026 — date Executive Order 14438 was signed
Yes, but: While the order sets directives, actual cost reductions depend on agency implementation and regulatory approvals, which may take months or longer.
What's next: FHFA’s rollout of the mortgage insurance and title insurance pilots will be closely watched in the coming months. The Task Force on Manufactured Housing Innovation report is due around April 2027.