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Decreasing Housing Costs for the American People (Executive Order 14438)

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Law & policy information
Name
Decreasing Housing Costs for the American People
Jurisdiction
United States
Instrument type
Executive order
Bill / legal citation
Executive Order 14438; 91 FR 68007–68009
Legislative or adoption status
Signed October 22, 2026; Federal Register publication October 28. Conditional implementation directions.
Effective dates
Pilot and program implementation subject to the conditions below; task-force recommendations due within 180 days of the order.
Last source verification
October 28, 2026 — complete official order, §§1–6.

Overview

Decreasing Housing Costs for the American People is Executive Order 14438, signed October 22, 2026 and published October 28. It sets a housing-cost policy that includes technology-assisted risk and valuation tools, mortgage-insurance cancellation and automated title review. The order’s use of “Super Intelligence” in its purpose statement does not establish that a particular pilot or model is already operating.[1]

Mortgage-insurance pilot

Section 2 directs the FHFA Director, if the specified best-interest determination is made, to have Fannie Mae and Freddie Mac establish a pilot for mortgages made after the pilot is established. Periodic reviews would use automated valuation models and other available data to identify borrowers who appear eligible for mortgage-insurance cancellation.[1]

Cancellation would depend on equity, payment-history and financial-safety requirements, contractual obligations and all other applicable cancellation requirements. The order directs borrower notifications and reduction of unnecessary documentation or appraisal barriers to the extent legally permitted and operationally feasible. It does not automatically cancel every borrower’s mortgage insurance.[1]

Automated title review

Section 4 conditionally directs expansion of the title-acceptance pilot into an ongoing nationwide program through both Enterprises. On eligible refinancing, an Enterprise could accept automated title review or another FHFA-approved title-risk assessment instead of a lender’s title-insurance policy. The direction depends on the Director’s best-interest determination, safety and soundness, regulatory and conservatorship authority, and applicable law.[1]

The Director must consider broader loan-to-value eligibility, geographic and provider expansion, specified documentation waivers and fee reductions. Cost savings must be passed through to borrowers and disclosed. These directions do not establish that all refinancing transactions qualify or that the expansion has already been implemented.[1]

Section 3 establishes a manufactured-housing innovation task force, co-chaired by HUD and FHFA, to recommend manufacturing, certification, permitting and financing measures within 180 days of the order. It also calls for evaluation of grant incentives and legislative recommendations. Section 5 directs USDA and VA to reduce rates on their direct single-family loans consistently with cited law and available appropriations.[1]

Section 6 preserves existing agency and OMB authority, requires consistency with law and available appropriations, and creates no privately enforceable right or benefit. Later agency or Enterprise implementation must be verified separately.[1]

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 Executive Order 14438, “Decreasing Housing Costs for the American People,” 91 FR 68007–68009, signed October 22 and published October 28, 2026; complete §§1–6 reviewed October 28.
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