A presidential order signed October 22, 2026 puts fees on some home refinances up for review, but it does not cut a single one. The order, titled Decreasing Housing Costs for the American People, says the director of the Federal Housing Finance Agency “shall consider” reducing or eliminating loan-level price adjustments and other fees that Fannie Mae and Freddie Mac charge on certain refinances. No new fee level and no start date appear in it.

Loan-level price adjustments are the upfront charges the two mortgage giants add to loans they buy, priced by factors such as the borrower’s credit and the size of the loan compared with the home’s value. The order calls Fannie and Freddie “the Enterprises” and ties this review to a narrow group of refinances.

For a homeowner thinking about refinancing, the open question is whether any of this reaches a real loan. The answer today is not yet. The director would have to decide, the agency would have to act, and the order itself says it is carried out consistent with applicable law and subject to the availability of appropriations.

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Which refinances does the review cover?

The fee review sits inside a larger move on title insurance. If the FHFA director makes the required determination, he is to direct the Enterprises to expand a title acceptance pilot into an ongoing program available nationwide through both of them. Under it, an Enterprise “may accept an automated title review or other title-risk assessment approved by the FHFA in lieu of a lender’s title insurance policy on eligible refinance transactions.”

The order’s wording on fees reaches only “such refinances,” meaning the ones that qualify for that title program. It does not announce a fee cut on all refinances, on purchase loans, or on any loan outside the program.

What else is the director told to weigh?

The fee line is one of four items the director shall consider, according to the order:

• Extending eligibility to refinances with loan-to-value ratios above the current 80 percent limit where title risk remains low.
• Removing geographic limits and certifying more title-assessment providers.
• Waiving appraisals, income re-verification and other documentation for limited cash-out refinances that reduce the borrower’s monthly payment, where data support it.
• Reducing or eliminating loan-level price adjustments and other Enterprise fees on such refinances.

Each of these is a matter for study and decision, not a rule already in force.

Would borrowers see any savings?

The order does include a firmer line on savings, though it applies to the title program rather than to the fee review. The director “shall require that cost savings resulting from the program be passed through to borrowers,” and lenders are to tell borrowers about those savings. The order gives no dollar amount for what a borrower might save.

What else is in the order?

The refinance language is one part of a broader housing package. Another section tells the Enterprises, again if the director so determines, to set up a pilot that uses automated valuation models to flag borrowers who may qualify to have mortgage insurance cancelled on loans made after the pilot starts.

A Task Force on Manufactured Housing Innovation, co-chaired by the housing secretary and the FHFA director, has 180 days, roughly until April 20, 2027, to recommend ways to promote factory-built housing. The agriculture and veterans affairs secretaries are told to reduce interest rates on their direct single-family home loans, subject to law and appropriations.

Where do the fee cuts stand?

As of the order, they are a possibility with no number attached. The conditional wording runs through the document: the director acts only “if he determines” it serves the Enterprises, the agency and the public. The order creates no enforceable rights, and anyone eyeing a refinance on the strength of it would be planning around a fee change that has not been set.

Waiting on a refinance fee cut that is not set?

A homeowner who holds off on a refinance in hopes of a fee cut that was only put up for consideration can end up paying today’s costs while waiting, and other programs that lower housing-related bills are open now but need an application.

The Benefits Checklist scans 11 benefit programs, including senior property tax breaks and heating and cooling help, with the 2026 income limits and a 50-state phone directory. A printable application tracker comes with the download. It is a different route to lower costs than a refinance, and it does not touch mortgage fees.

Check the 11 programs that lower housing costs with The Benefits Checklist →

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This article was produced with AI assistance and edited for accuracy against the sources linked above.