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United States: Executive Order 14438 directs mortgage insurance cancellation pilot and title acceptance program

By LexCircuit Desk · · AI-drafted, human-reviewed

President Donald Trump signed Executive Order 14438 on October 22, 2026, and the Federal Register published the order on October 28, 2026. The order directs the Federal Housing Finance Agency to have Fannie Mae and Freddie Mac pilot proactive cancellation of mortgage insurance, expands an automated title acceptance program for eligible refinances, and directs lower direct loan rates at the Departments of Agriculture and Veterans Affairs.

Text (Federal Register) →

Key points

  • The Enterprises periodically review single-family loans using automated valuation models to identify borrowers who satisfy equity requirements for mortgage insurance cancellation.Federal Register
  • Servicers notify borrowers promptly when mortgage insurance may be canceled and reduce documentation requests, appraisal costs, and other administrative barriers.Federal Register
  • The Task Force on Manufactured Housing Innovation, co-chaired by Housing and Urban Development and the FHFA, submits recommendations within 180 days.Federal Register
  • The title acceptance program operates nationwide through both Enterprises, accepting FHFA-approved automated title review in lieu of lender title insurance on eligible refinances.Federal Register
  • Program cost savings are passed through to borrowers, and lenders inform borrowers of those savings.Federal Register
  • Agriculture and Veterans Affairs reduce interest rates on their single-family direct loans; the order is published at 91 FR 68007, FR Doc. 2026-22051.Federal Register

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RegulationU.S.Executive Order 14438, Decreasing Housing Costs for the American PeopleFinancial servicesReal estateRegulatoryFor practitionersFor governance