联邦公报例行刊载EO 14438《降低美国人民住房成本》：房贷险主动取消试点、产权保险自动化审查扩围、预制住房工作组，行政令10月22日已签署公开，市场已消化

EXECUTIVE ORDER
14438
- - - - - - DECREASING HOUSING COSTS FOR THE AMERICAN PEOPLE
By the authority vested in me as President by the
Constitution and the laws of the United States of America, it is
hereby ordered:
Section 1.

Purpose.

The American Dream of homeownership

is a vital pillar of our great country.

It is the policy of my

Administration to reduce regulatory barriers to mortgage
origination and costs impeding homeownership; embrace innovative
risk and value assessment technologies that incorporate Super
Intelligence to drive down mortgage and homeownership costs; and
promote competition and innovation throughout the housing and
mortgage market.
Sec. 2.
Insurance.

Proactive Cancellation of Excessive Mortgage
(a)

The Director of the Federal Housing Finance

Agency (Director) shall, if he determines that it is in the best
interests of the Federal National Mortgage Association and the
Federal Home Loan Mortgage Corporation (Enterprises) or the
Federal Housing Finance Agency (FHFA), and the American public,
direct the Enterprises to establish a pilot program, applicable
only to mortgages made after the establishment of the pilot
program, that periodically reviews single-family mortgage loans
they own, guarantee, or securitize, using automated valuation
models and other available data to assess current market value,
and to identify borrowers who appear to satisfy equity and other
requirements for cancellation of mortgage insurance.
(b)

The Director shall direct the Enterprises to establish

procedures for the pilot program, including financial safety and
soundness standards and payment-history requirements, under

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which mortgage insurance is canceled proactively when an
Enterprise determines that:
(i)

the borrower satisfies applicable equity

requirements based on the property's current market
value, as determined through an automated valuation
model or other means approved by the Director;
(ii)

cancellation is consistent with financial

safety and soundness and with the Enterprise's
contractual obligations; and
(iii)

the borrower satisfies all other applicable

statutory, contractual, regulatory, and Enterprise
requirements for cancellation.
(c)

The Director shall direct the Enterprises to require

servicers, to the extent permitted by law and operationally
feasible, to notify borrowers promptly when mortgage insurance
may be canceled under the pilot program, and to reduce or
eliminate unnecessary documentation requests, appraisal costs,
and other administrative barriers to cancellation.
Sec. 3.

Standardizing the Permitting of Homes.

(a)

To

increase the quality and lower the cost of building a home,
there is hereby established the Task Force on Manufactured
Housing Innovation (Task Force), which shall be co-chaired by
the Secretary of Housing and Urban Development and the Director
of the Federal Housing Finance Agency, or their designees, and
shall include the Secretary of Agriculture, the Secretary of
Commerce, and the Secretary of Veterans Affairs, or their
designees.

The co-chairs may invite the heads of other

executive departments and agencies (agencies) to participate, as
appropriate.

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(b)

Within 180 days of the date of this order, the Task

Force shall submit to the President, through the Assistant to
the President for Economic Policy, recommendations to facilitate
the use of modern manufacturing methods in the production of
manufactured and other factory-built housing eligible for
Federal housing programs, including actions to:
(i)

promote specifications, certifications,

inspections, and approvals across Federal housing
and housing-finance programs;
(ii)

establish reciprocal recognition among agencies

of licenses, certifications, approvals, and
inspections, where doing so would avoid unnecessary
duplication;
(iii)

eliminate Federal requirements and duplicative

reviews that unnecessarily impede automation,
modularization, standardized production, or other
advanced manufacturing techniques, or that increase
the time or cost of bringing homes to market;
(iv)

use Federal financing, insurance, guarantee,

purchasing, and other program authorities to encourage
innovation and increased production of affordable
manufactured and factory-built homes; and
(v)

promote competition among manufacturers

and other market participants while maintaining
appropriate standards for safety, quality, durability,
and consumer protection.
(c)

The Task Force shall also evaluate whether, and under

what existing statutory authorities, Federal grant funding may
be conditioned on, or be used to incentivize, State and local
adoption of standardized permitting and licensing for

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manufactured and other factory-built housing, consistent with
the best practices issued under section 4(a) of Executive Order
14394 of March 13, 2026 (Removing Regulatory Barriers to
Affordable Home Construction), and shall prepare legislative
recommendations to codify the policies set forth in this
subsection.
(d)

The heads of the agencies represented on the Task

Force shall, within their respective authorities, take
appropriate action to implement the Task Force's
recommendations.
Sec. 4.

Reducing Excessive Title Insurance, Especially in

the Refinancing of Americans Homes.

(a)

The Director shall, if

he determines that it is in the best interests of the
Enterprises or the FHFA, and the American public, and consistent
with financial safety and soundness, the Director's authorities
as regulator and conservator, and applicable law, direct the
Enterprises to expand the title acceptance pilot into an ongoing
program, available nationwide through both Enterprises, under
which an Enterprise may accept an automated title review or
other title-risk assessment approved by the FHFA in lieu of
a lender's title insurance policy on eligible refinance
transactions.
(b)

In expanding the program, the Director shall consider:
(i)

extending eligibility to refinance transactions

with loan-to-value ratios above the current 80 percent
limit where title risk remains low;
(ii)

removing geographic limitations and certifying

additional title-assessment providers to promote
competition;

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(iii)

waiving appraisals, income re-verification, and

other documentation requirements for limited cash-out
refinances that reduce the borrower's monthly payment,
where the Enterprise's existing data support doing so;
and
(iv)

reducing or eliminating loan-level price

adjustments and other Enterprise fees on such
refinances.
(c)

The Director shall require that cost savings resulting

from the program be passed through to borrowers and that lenders
inform borrowers of those savings.
Sec. 5.

Department of Agriculture and Department of

Veterans Affairs Direct Loan Rates.

The Secretary of

Agriculture and the Secretary of Veterans Affairs shall,
consistent with applicable law, including 42 U.S.C.
1490a(a)(1)(B) and 38 U.S.C. 3762(c)(1), and available
appropriations, reduce the interest rates charged on
single-family home loans made directly by their respective
departments.
Sec. 6.

General Provisions.

(a)

Nothing in this order

shall be construed to impair or otherwise affect:
(i)

the authority granted by law to an executive

department or agency, or the head thereof; or
(ii)

the functions of the Director of the Office

of Management and Budget relating to budgetary,
administrative, or legislative proposals.
(b)

This order shall be implemented consistent with

applicable law and subject to the availability of
appropriations.

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(c)

This order is not intended to, and does not, create

any right or benefit, substantive or procedural, enforceable at
law or in equity by any party against the United States, its
departments, agencies, or entities, its officers, employees, or
agents, or any other person.
(d)

The costs for publication of this order shall be borne

by the Federal Housing Finance Agency.

THE WHITE HOUSE,
October 22, 2026.
[FR Doc. 2026-22051 Filed: 10/27/2026 11:15 am; Publication Date: 10/28/2026]