Trump Order Targets Mortgage Costs, Could Save Homebuyers Thousands

A new executive order from the Trump Administration aims to reduce homebuyer closing costs, potentially saving borrowers thousands. Key provisions include:

• Mortgage Insurance Pilot: Establishes a program for automatic cancellation of mortgage insurance for Fannie Mae and Freddie Mac loans once 80% LTV is reached, potentially saving hundreds monthly.
• Title Insurance: Targets lenders' title insurance for low-risk refinancing loans.
• Manufactured Homes: Creates a task force to streamline construction and lower costs for manufactured homes.

The order primarily impacts new home loans backed by Fannie Mae and Freddie Mac, aiming to ease financial burdens for those with less than 20% down payments [1].