President Trump issued two executive orders aimed at reducing housing costs by addressing both housing supply and access to financing. The first order “Removing Regulatory Barriers to Affordable Home Construction,” directs federal agencies, including the EPA, Army Corps of Engineers, HUD, DOT, DOE, USDA, and FHFA to review and, where appropriate, revise federal requirements affecting residential development, such as Clean Water Act permitting standards, stormwater and environmental review processes, energy efficiency and water use rules, and federal grant and infrastructure programs tied to housing development. The order also calls for new federal guidance encouraging state and local governments to adopt practices such as streamlined permitting timelines, expanded use of manufactured housing, and fewer regulatory constraints on suburban and exurban residential growth. A fact sheet on the order is available here.
The second order “Promoting Access to Mortgage Credit,” directs federal financial regulators to consider potential changes intended to expand mortgage credit availability, particularly through community and smaller banks. The order highlights possible revisions to ability-to-repay and qualified mortgage requirements, mortgage disclosure and appraisal rules, capital and liquidity standards applicable to residential lending, supervisory treatment of construction and servicing activities, and broader adoption of digital mortgage processes such as electronic closings and remote notarization. A fact sheet on the order is available here.