Trump signs executive order targeting mortgage costs

🎉 Friday, our favorite! Today’s newsletter is 783 words, a 2.5-minute read.

1. Trump signs executive order targeting mortgage costs

President Trump signed an executive order on Oct. 22 directing federal agencies to pursue measures to lower mortgage costs. The order includes a pilot program to cancel mortgage insurance premiums for eligible borrowers who meet equity requirements based on current home values, potentially reducing their monthly payments.

It also directs the FHFA to make its title insurance waiver pilot permanent to lower refinancing costs. A HUD- and FHFA-led task force will also explore ways to improve the quality and affordability of manufactured homes. The Agriculture and Veterans Affairs departments are also directed to lower interest rates on their single-family home loans.

The White House says the order builds on earlier actions involving institutional home investors and mortgage-backed securities purchases by Fannie Mae and Freddie Mac.

2. Home affordability gap persists despite 20% down

The income needed to afford a median-priced home reached $90,191 in Q3 of 2026, about $10,657 more than the average annual wage of $79,534, according to ATTOM’s report.

Here are other key takeaways from the report:

• The national median home price fell to $368,000 from $375,000 a year earlier.

• Even with a 20% down payment of $73,600, modeled ownership costs consumed 31.8% of the average worker’s wages.

• Homes were less affordable than their historical averages in 570 of the 583 counties analyzed, while ownership costs exceeded the 28% guideline in 467 counties.

Grow your pipeline, increase your fundings and build client loyalty for life.

Brokers are discovering the power that OneHomeowner’s client connections can bring to their business. Aldo Martinez of Movement Mortgage recently implemented OneHomeowner into his client retention processes and the results speak for themselves:

• Applications up 63%

• Locked loans up 47%

• Fundings up 22%

Schedule a demo of OneHomeowner today and see how endless the possibilities are.

3. More Nuggets

🚨 Six MLSs sue Compass over listing practices that could affect purchase lenders. (NMP)

🔑 Balance Homes rolls out co-ownership program across 12 states. (BusinessWire)

🎖️ Nationwide Equities president Glenn Wallace retires after 50 years. (PR.com)

⚖️ Village Capital settles over violation of 6% VA loan rate cap. (DOJ)

🚨 Coach’s Corner

He Unsubscribed From My Emails. I Made $10,000.

Sounds crazy, right?

Watch this quick video to hear the story and see why email marketing works!

Want to send the SAME marketing emails I send?

Sign up for Mortgage Nuggets Weekly and get ready-to-send emails for Realtors and clients. Try it FREE for 30 days!

— Dave Krichmar CEO

4. MBA proposes changes to cut mortgage costs and expand housing access

The Mortgage Bankers Association (MBA) has released a policy roadmap proposing regulatory changes to lower mortgage costs, expand credit access and reduce rental housing development expenses.

• Proposals include allowing borrowers with credit scores above 700 to use one credit report instead of three, reducing loan-level price adjustments (LLPAs) and lowering annual FHA mortgage insurance premiums.

MBA estimates that a 0.25-percentage-point fee reduction on a $400,000 purchase loan could save buyers $1,000 at closing. A 0.20-percentage-point reduction in annual FHA mortgage insurance premiums could save borrowers nearly $800 a year.

Other recommendations include streamlining refinancing, lowering title insurance costs and expanding financing options for condos, new construction and manufactured homes. MBA also proposes changes to rental housing regulations and bank capital requirements to reduce financing costs and support housing development.

5. Northpointe to sell retail mortgage channels to CMG

Northpointe Bancshares plans to sell its distributed retail and consumer direct mortgage origination channels to CMG Financial. The companies signed a nonbinding letter of intent, with the deal expected to close by the end of 2026, subject to due diligence and a definitive agreement. The companies did not disclose financial terms, and loans already in process will continue to close.

Northpointe said lower mortgage origination volumes have made it difficult to sustain the fixed costs of its retail platforms. The bank plans to focus on its national mortgage purchase program, specialty finance and relationship-based deposits. It expects $6 million to $7 million in restructuring charges, mostly in the fourth quarter.

☀️ You’re all caught up. See you on Monday!

🚀 Wanna help our newsletter grow? Forward it to a friend or colleague.

Would you like to receive a ready-to-send weekly marketing email for your realtors and/or clients? Start your 30-day free trial here.

Was this email forwarded to you? Subscribe here.