Housing|United States
Executive Order 14438: automatic mortgage-insurance cancellation pilot, title-insurance waivers on refinances, and a factory-built housing task force
Signed 22 October and published in today’s Federal Register, the order asks the FHFA to have Fannie Mae and Freddie Mac test proactive cancellation of mortgage insurance using automated home valuations, to make their title-insurance waiver pilot for refinances a nationwide program, and to pass savings to borrowers. It also sets up a task force on manufactured and factory-built homes and tells USDA and VA to cut rates on their direct home loans. Most steps depend on the FHFA director’s judgment and on later agency action.
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