On March 13, President Trump signed an executive order
directing federal financial regulators to consider a broad set of
changes intended to reduce regulatory burdens affecting mortgage
origination, servicing, capital treatment, appraisals, and
mortgage-related licensing requirements, particularly for community
banks and other smaller banks.
The order does not itself change existing law. Instead, it
instructs agencies including the CFPB, Federal Reserve, FDIC, OCC,
NCUA, FHFA, HUD, VA, and USDA to consider whether to pursue
rulemakings, supervisory changes, and other reforms within their
existing authority. The order reflects the Administration's
view that post-Dodd-Frank mortgage regulation has increased
compliance costs, reduced bank participation in mortgage lending,
and limited credit availability for some borrowers.
