Promoting Access to Mortgage Credit

Executive Order 14393 is an executive action signed by President (name not specified in the text) that directs financial regulators to consider loosening mortgage rules and reducing compliance burdens on community banks and smaller banks (Sec. 1; Secs. 2-6). The order instructs the Consumer Financial Protection Bureau (CFPB) to consider changes to Ability-to-Repay (ATR) and Qualified Mortgage (QM) rules and to modernize disclosure timing and reporting (Sec. 2; Sec. 3(a)). It tells the Board of Governors of the Federal Reserve (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Federal Housing Finance Agency (FHFA) to consider revising capital, liquidity, appraisal, supervisory, and servicing rules to encourage portfolio lending and construction finance (Secs. 2(b); 4-6; 8). This matters because the order aims to increase mortgage access and competition, which could affect mortgage costs and availability for everyday homebuyers, especially in rural and low- and moderate-income communities (Sec. 1).