A broader bipartisan housing bill advanced in the Senate to boost construction and curb institutional ownership, but its fate in the House remains uncertain.

The White House issued two executive orders, led by broad directives from the Trump administration, to accelerate affordable home construction by streamlining permits, trimming select environmental and building rules, and encouraging best practices by states and localities without altering zoning codes.

One order directs federal agencies to simplify permitting and regulatory reviews, potentially expand exemptions from certain environmental reviews, and speed up processes to increase housing supply and reduce costs.

The other order, titled Promoting Access to Mortgage Credit, aims to widen lending by smaller banks and adjust rules—such as Regulation Z and HMDA requirements—to lower barriers and promote competition in home loans.

There is a shift in focus for examination of bank activities—from pure compliance checks to affordability assessments of borrowers, with room for corrections of good-faith errors rather than punitive enforcement.

The measures target the decline in mortgage originations since the 2000s crisis, aiming to reduce originators’ and servicers’ compliance costs and improve credit access for rural and low- to moderate-income borrowers.

Special emphasis is placed on relief for community and smaller banks under $100 billion in assets, including potential tailoring of ability-to-repay and qualified mortgage rules by the CFPB.

Industry groups reacted with cautious optimism, with Mortgage Bankers Association and other bodies welcoming regulatory relief and a focus on access and affordability, while some smaller lenders urged careful implementation.

The policy push comes amid ongoing political emphasis on housing affordability ahead of midterm elections, with bipartisan talk of expanding construction and addressing high prices and mortgage rates.

Current housing conditions show February’s median existing-home price around $398,000 and a 30-year rate near 6.05%, underscoring affordability challenges.

The executive orders direct the CFPB to broaden the qualified mortgage definition, tailor capital requirements for banks, modernize appraisals with automated tools, and align FHA/VA appraisal standards.

Rules related to manufactured housing financing are to be reviewed to address affordability and financing mechanisms for manufactured homes.