Trump Signs Order to Cancel Mortgage Insurance for Borrowers
President Donald Trump signed an executive order directing the Federal Housing Finance Agency to pilot a program that cancels mortgage insurance on specific loans.
Donald Trump signed an executive order on Thursday to reduce housing costs and address voter concerns over affordability before the midterm elections. The order directs the Federal Housing Finance Agency to establish a pilot program designed to proactively cancel mortgage insurance on specific loans.
This initiative targets borrowers whose home values have appreciated sufficiently to no longer require insurance. The Federal Housing Finance Agency manages Fannie Mae and Freddie Mac, the government-controlled entities that back more than half of the residential mortgage market in the United States.
