Less than two weeks before the midterm elections, President Trump signed an Executive Order (EO) with measures to ease mortgage burdens amid rising rates. The EO directs the Federal Housing Finance Agency (FHFA) to create a pilot program proactively canceling mortgage insurance for eligible borrowers with government-backed home loans. It also directs FHFA to expand an existing program allowing borrowers to qualify for government-sponsored mortgages by using less expensive alternatives to title insurance. Additionally, the EO directs the Departments of Agriculture and Veterans Affairs to reduce single-family mortgage interest rates in its housing programs. Finally, the EO establishes a multiagency task force to “support innovation in the development of manufactured homes.” More information can be found at this link.