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Executive order seeks pilot to auto-cancel mortgage insurance

Published · Homebuyer update · By the DPA Finder editorial team

Executive Order 14438, published Oct. 28, 2026, asks the FHFA to consider a Fannie Mae and Freddie Mac pilot that cancels mortgage insurance proactively. It would cover only loans made after the pilot starts.

Executive Order 14438, "Decreasing Housing Costs for the American People," was signed October 22, 2026 and published in the Federal Register on October 28. It asks the director of the Federal Housing Finance Agency, if he finds it in the public interest, to direct Fannie Mae and Freddie Mac to set up a pilot that periodically reviews the loans they own or guarantee with automated valuation models and cancels mortgage insurance when borrowers appear to meet the equity and payment-history requirements.

The order says the pilot would apply only to mortgages made after it is established, and that servicers should notify borrowers and cut unnecessary documentation and appraisal costs. No pilot has been announced yet. The order also expands a title insurance alternative for refinances and asks USDA and VA to lower rates on their direct home loans.

If you already have a conventional loan with PMI, nothing changes for you: you can ask your servicer to cancel PMI when your balance reaches 80% of the original value, and it must end automatically at 78% on the original schedule, according to the CFPB. Our new PMI removal calculator shows both dates and whether your home's current value could get you there sooner under Fannie Mae's rules.

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