Documents › Executive orders › 14393
Executive Order 14393
Promoting Access to Mortgage Credit
Signed March 13, 2026, printed at 91 FR 13203. 10 sections of substance, 1,841 words.
This order is about home loans. It says rules have made loans harder to get. It asks the CFPB to look at those rules.
Sec. 1. Purpose
Every American seeking to buy a home should have access to a mortgage from a reliable lender, at a rate commensurate with his or her creditworthiness. Over the past two decades, however, statutory and regulatory changes--including rules adopted under the Dodd-Frank Act, Public Law 111-203, and subsequent rulemakings--have increased the compliance costs of mortgage origination and servicing and distorted the structure of the mortgage market. These burdens have contributed to a significant decline in bank participation in mortgage lending. Community banks, generally institutions with fewer than $30 billion in assets, have been especially affected. The regulatory and rule changes have undermined community banks' businesses, concentrated credit and liquidity risk outside the banking system, and resulted in reduced access to credit for some creditworthy borrowers, including rural households
Every American seeking to buy a home should have access to a mortgage from a reliable lender, at a rate commensurate with his or her creditworthiness. Over the past two decades, however, statutory and regulatory changes--including rules adopted under the Dodd-Frank Act, Public Law 111-203, and subsequent rulemakings--have increased the compliance costs of mortgage origination and servicing and distorted the structure of the mortgage market. These burdens have contributed to a significant decline in bank participation in mortgage lending. Community banks, generally institutions with fewer than $30 billion in assets, have been especially affected. The regulatory and rule changes have undermined community banks' businesses, concentrated credit and liquidity risk outside the banking system, and resulted in reduced access to credit for some creditworthy borrowers, including rural households
This states the case the order makes. It says every buyer should be able to get a loan. The rate should match their credit. It says rules over two decades raised costs. A 2010 finance law is named. It says banks then pulled back from home lending. Small local banks were hit hardest. It says some good borrowers lost access.
Sec. 2.
Origination and Ability-to-Repay (ATR)/ Qualified Mortgage (QM) Reform. (a) The Consumer Financial Protection Bureau (CFPB) shall consider, as appropriate and consistent with applicable law: (i) proposing amendments to Regulation Z that tailor the following requirements for smaller banks: ATR and QM requirements (including potentially a broader QM safe harbor for portfolio loans) and the requirements of the Truth in Lending Act, Public Law 90-321 (TILA), Real Estate Settlement Procedure Act, Public Law 93-533 (RESPA), and TILA-RESPA Integrated Disclosure (TRID) rules; (ii) replacing TRID timing rules with a materiality-based standard that preserves consumer clarity and reduces closing delays; (iii) exempting small-mortgage loans from caps on QM points and fees or, as appropriate, modifying such caps to support affordability; (iv) updating regulations regarding banks' reasonable
Origination and Ability-to-Repay (ATR)/ Qualified Mortgage (QM) Reform. (a) The Consumer Financial Protection Bureau (CFPB) shall consider, as appropriate and consistent with applicable law: (i) proposing amendments to Regulation Z that tailor the following requirements for smaller banks: ATR and QM requirements (including potentially a broader QM safe harbor for portfolio loans) and the requirements of the Truth in Lending Act, Public Law 90-321 (TILA), Real Estate Settlement Procedure Act, Public Law 93-533 (RESPA), and TILA-RESPA Integrated Disclosure (TRID) rules; (ii) replacing TRID timing rules with a materiality-based standard that preserves consumer clarity and reduces closing delays; (iii) exempting small-mortgage loans from caps on QM points and fees or, as appropriate, modifying such caps to support affordability; (iv) updating regulations regarding banks' reasonable
This targets loan rules. The consumer bureau must weigh changes. Smaller banks would get lighter rules. The test of ability to repay is named. So is the qualified mortgage rule. Truth in lending rules are named too. Timing rules at closing would give way to a materiality test. Small loans could escape fee caps.
Sec. 3.
Modernization of Home Mortgage Disclosure Act (HMDA) Data Collection and Disclosure. (a) The CFPB shall consider, as appropriate and consistent with applicable law, proposing amendments to Regulation C to raise the asset threshold for exemption from HMDA data collection and reporting requirements for smaller banks, to exclude inquiries from the scope of HMDA, and to ensure that disclosures protect privacy and reduce burdens, including insufficiently tailored, expensive, and complex software and training needed for reporting financial institutions.
Modernization of Home Mortgage Disclosure Act (HMDA) Data Collection and Disclosure. (a) The CFPB shall consider, as appropriate and consistent with applicable law, proposing amendments to Regulation C to raise the asset threshold for exemption from HMDA data collection and reporting requirements for smaller banks, to exclude inquiries from the scope of HMDA, and to ensure that disclosures protect privacy and reduce burdens, including insufficiently tailored, expensive, and complex software and training needed for reporting financial institutions.
This targets loan reporting. A law makes lenders report home loan data. The consumer bureau must weigh changes. Smaller banks would be exempt more often. An asset test sets that line. Inquiries would fall outside the rules. Disclosures must protect privacy. The software and training needed must cost less.
Sec. 4. Capital and Liquidity Alignment
(a) The Vice Chairman for Supervision of the Federal Reserve, the Chairman of the NCUA Board, the Chairperson of the Board of Directors of the FDIC, the Comptroller of the Currency, and the Director of the Federal Housing Finance Agency (FHFA) shall consider, as appropriate and consistent with applicable law: (i) revising capital regulations, consistent with appropriate risk- management requirements, to tailor risk weights for all banks, including community banks and other smaller banks, for portfolio mortgages, servicing rights, and warehouse lines of credit to the material credit risk of the exposure; (ii) modernizing collateral valuation and transfer systems between the Federal Reserve and Federal Home Loan Banks (FHLBs); (iii) expanding access to longer-dated FHLB advances tied to residential mortgage assets; (iv) creating targeted FHLB liquidity programs for entry-level housing,
(a) The Vice Chairman for Supervision of the Federal Reserve, the Chairman of the NCUA Board, the Chairperson of the Board of Directors of the FDIC, the Comptroller of the Currency, and the Director of the Federal Housing Finance Agency (FHFA) shall consider, as appropriate and consistent with applicable law: (i) revising capital regulations, consistent with appropriate risk- management requirements, to tailor risk weights for all banks, including community banks and other smaller banks, for portfolio mortgages, servicing rights, and warehouse lines of credit to the material credit risk of the exposure; (ii) modernizing collateral valuation and transfer systems between the Federal Reserve and Federal Home Loan Banks (FHLBs); (iii) expanding access to longer-dated FHLB advances tied to residential mortgage assets; (iv) creating targeted FHLB liquidity programs for entry-level housing,
This targets capital rules. Five bank regulators must weigh changes. Risk weights would be tailored to real credit risk. Loans a bank keeps are named. So are servicing rights. So are warehouse credit lines. Small banks are the focus. Collateral systems would be modernized. Longer term home loan advances would be easier to get.
Sec. 5. Construction and Housing Supply
(a) The Vice Chairman for Supervision of the Federal Reserve, the Director of the CFPB, the Chairman of the NCUA Board, the Chairperson of the Board of Directors of the FDIC, and the Comptroller of the Currency, shall consider, as appropriate and consistent with applicable law, revising supervisory guidance both to exclude one-to four-family residential development and construction lending from commercial real estate concentration guidance and to ensure supervisory expectations support responsible construction lending by community banks.
(a) The Vice Chairman for Supervision of the Federal Reserve, the Director of the CFPB, the Chairman of the NCUA Board, the Chairperson of the Board of Directors of the FDIC, and the Comptroller of the Currency, shall consider, as appropriate and consistent with applicable law, revising supervisory guidance both to exclude one-to four-family residential development and construction lending from commercial real estate concentration guidance and to ensure supervisory expectations support responsible construction lending by community banks.
This targets building loans. Five bank regulators must weigh a change. Guidance now counts home building as commercial property. That would stop. Homes with one to four units are the target. Both land work and building count. Supervisors would be told to back sound building loans. Small local banks are the focus.
Sec. 6. Appraisal Modernization
(a) The Vice Chairman for Supervision of the Federal Reserve, the Director of the CFPB, the Chairman of the NCUA Board, the Chairperson of Board of Directors of the FDIC, the Comptroller of the Currency, and the Director of the FHFA shall consider, as appropriate and consistent with applicable law and their statutory authorities: (i) modernizing appraisal regulations and guidance to expand the use of alternative valuation models, desktop and hybrid appraisals, and artificial intelligence valuation tools; (ii) simplifying appraiser qualification requirements; and (iii) reducing appraisal requirements for low-risk transactions, including low loan-to-value refinancing and small-balance loans; and setting clear appraisal timelines. (b) The Secretary of Housing and Urban Development (HUD) and the Secretary of Veterans Affairs (VA) shall consider, as appropriate and consistent with applicable
(a) The Vice Chairman for Supervision of the Federal Reserve, the Director of the CFPB, the Chairman of the NCUA Board, the Chairperson of Board of Directors of the FDIC, the Comptroller of the Currency, and the Director of the FHFA shall consider, as appropriate and consistent with applicable law and their statutory authorities: (i) modernizing appraisal regulations and guidance to expand the use of alternative valuation models, desktop and hybrid appraisals, and artificial intelligence valuation tools; (ii) simplifying appraiser qualification requirements; and (iii) reducing appraisal requirements for low-risk transactions, including low loan-to-value refinancing and small-balance loans; and setting clear appraisal timelines. (b) The Secretary of Housing and Urban Development (HUD) and the Secretary of Veterans Affairs (VA) shall consider, as appropriate and consistent with applicable
This targets home appraisals. Six regulators must weigh changes. Other valuation models could be used more. Desktop appraisals are named. So are hybrid ones. So are AI tools. Rules for becoming an appraiser would be simpler. Low risk deals would need less. Clear time limits would be set. Housing and Veterans Affairs must weigh the same.
Sec. 7. Digital Mortgage Modernization
(a) The Secretary of Agriculture, the Secretary of HUD, the Secretary of VA, and the Director of the FHFA shall consider, as appropriate and consistent with applicable law: (i) eliminating unnecessary wet-signature requirements for disclosures, applications, closing documents, and similar documents; (ii) standardizing acceptance of electronic signatures, e-notes, and remote online notarization; and (iii) promoting digital mortgage standards.
(a) The Secretary of Agriculture, the Secretary of HUD, the Secretary of VA, and the Director of the FHFA shall consider, as appropriate and consistent with applicable law: (i) eliminating unnecessary wet-signature requirements for disclosures, applications, closing documents, and similar documents; (ii) standardizing acceptance of electronic signatures, e-notes, and remote online notarization; and (iii) promoting digital mortgage standards.
This drags home loans into the digital age. Four agencies must weigh changes. Wet ink signatures could go. That covers forms and papers signed at closing. Electronic signing would be taken instead. Notes signed online would count. So would notarizing by video. Shared digital standards would be pushed.
Sec. 8. Servicing and Supervisory Certainty
(a) The Secretary of HUD, the Vice Chairman for Supervision of the Federal Reserve, the Director of the CFPB, the Chairman of the NCUA Board, the Chairperson of the Board of Directors of the FDIC, and the Comptroller of the Currency shall consider, as appropriate and consistent with applicable law: (i) aligning supervisory expectations to support portfolio mortgage servicing as a core community banking function; extending cure-first standards to good-faith servicing errors; simplifying loss mitigation requirements; and issuing a proposed rule providing exemptions from complex mortgage services for smaller banks; and (ii) ensuring that supervisory evaluations of performing, prudently underwritten portfolio loans do not focus on technical defects or rely on evolving supervisory interpretations.
(a) The Secretary of HUD, the Vice Chairman for Supervision of the Federal Reserve, the Director of the CFPB, the Chairman of the NCUA Board, the Chairperson of the Board of Directors of the FDIC, and the Comptroller of the Currency shall consider, as appropriate and consistent with applicable law: (i) aligning supervisory expectations to support portfolio mortgage servicing as a core community banking function; extending cure-first standards to good-faith servicing errors; simplifying loss mitigation requirements; and issuing a proposed rule providing exemptions from complex mortgage services for smaller banks; and (ii) ensuring that supervisory evaluations of performing, prudently underwritten portfolio loans do not focus on technical defects or rely on evolving supervisory interpretations.
This targets loan servicing. Six regulators must weigh changes. Servicing loans a bank keeps would be treated as core work. Good faith errors would be cured first, not punished. Rules on helping troubled borrowers would be simpler. Small banks could be exempt from complex duties. Reviews would not turn on technical faults.
Sec. 9. Enforcement
(a) The Vice Chairman for Supervision of the Federal Reserve, the Director of the CFPB, the Chairman of the NCUA Board, the Chairperson of the Board of Directors of the FDIC, and the Comptroller of the Currency shall consider, as appropriate and consistent with applicable law, promulgating a policy against enforcement actions for violations of consumer financial laws that: [[Page 13206]] (i) discourages imposing civil monetary penalties, except where the underlying violations are willful, knowing, or reckless; (ii) considers good corporate conduct, including a bank's correction of good-faith, technical compliance errors; and (iii) allows institutions a reasonable opportunity for self-identification and remediation of appropriate compliance matters.
(a) The Vice Chairman for Supervision of the Federal Reserve, the Director of the CFPB, the Chairman of the NCUA Board, the Chairperson of the Board of Directors of the FDIC, and the Comptroller of the Currency shall consider, as appropriate and consistent with applicable law, promulgating a policy against enforcement actions for violations of consumer financial laws that: [[Page 13206]] (i) discourages imposing civil monetary penalties, except where the underlying violations are willful, knowing, or reckless; (ii) considers good corporate conduct, including a bank's correction of good-faith, technical compliance errors; and (iii) allows institutions a reasonable opportunity for self-identification and remediation of appropriate compliance matters.
This targets enforcement. Five bank regulators must weigh a new policy. Fines would be discouraged in most cases. Only willful or reckless breaches would draw them. Good conduct would count in a bank's favor. Fixing honest errors is named. Banks would get a fair chance to find their own faults. They could then correct them.
Sec. 10. Duplicative or Unnecessary Licensing Requirements
The Vice Chairman for Supervision of the Federal Reserve, the Director of the CFPB, the Chairman of the NCUA Board, the Chairperson of the Board of Directors of the FDIC, and the Comptroller of the Currency shall consider, as appropriate and consistent with applicable law, eliminating duplicative or unnecessary requirements regarding licensing or registration for mortgage loan officers of any smaller bank.
The Vice Chairman for Supervision of the Federal Reserve, the Director of the CFPB, the Chairman of the NCUA Board, the Chairperson of the Board of Directors of the FDIC, and the Comptroller of the Currency shall consider, as appropriate and consistent with applicable law, eliminating duplicative or unnecessary requirements regarding licensing or registration for mortgage loan officers of any smaller bank.
This targets licensing rules. Five bank regulators must weigh a change. Loan officers at smaller banks must now register. Some of those steps repeat each other. Some serve no purpose. Those steps would be dropped. The law still sets the limits. Each regulator decides what fits.
Sec. 11. General Provisions
Every order carries this. It is not what the order does.
(a) Nothing in this order shall be construed to impair or otherwise affect: (i) the authority granted by law to an executive department or agency, or the head thereof; or (ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals. (b) This order shall be implemented consistent with applicable law and subject to the availability of appropriations. (c) This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person. (d) The costs for publication of this order shall be borne by the Department of the Treasury. <GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT> (Presidential Sig.) THE WHITE HOUSE, March 13, 2026. [FR Doc.
(a) Nothing in this order shall be construed to impair or otherwise affect: (i) the authority granted by law to an executive department or agency, or the head thereof; or (ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals. (b) This order shall be implemented consistent with applicable law and subject to the availability of appropriations. (c) This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person. (d) The costs for publication of this order shall be borne by the Department of the Treasury. <GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT> (Presidential Sig.) THE WHITE HOUSE, March 13, 2026. [FR Doc.
This is the closing clause that nearly every order carries. It says the order does not change what the law already allows. It also says no one can sue to enforce it.
How this order is quoted
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