Oct 22 (Reuters) – US President Donald Trump on Thursday signed an executive order aimed at reducing the costs of single-family home ownership and mortgages, the White House said in a statement.
The order instructs the Federal Housing Finance Agency to launch a pilot program that would proactively cancel borrowers’ mortgage insurance premiums once they meet equity requirements based on current market value, and to make permanent an FHFA pilot waiving title insurance on refinancings.
It also creates a task force on manufactured housing innovation to expand factory-built housing eligible for federal programs, and directs the agriculture and veterans affairs secretaries to reduce interest rates on single-family home loans issued by their departments.
(Reporting by Chistian Martinez and Ryan Patrick Jones;Editing by David Ljunggren)
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