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HUD Secretary Scott Turner says executive orders aim to ease construction rules and expand mortgage access
Summary
On the NYSE trading floor during National Home Ownership Month, HUD Secretary Scott Turner said two executive orders are intended to reduce regulatory barriers to building and increase mortgage credit for first-time buyers; he cited FHA activity and an upcoming change to accepted credit scores.
On the trading floor of the New York Stock Exchange during National Home Ownership Month, Secretary of Housing and Urban Development Scott Turner said two executive orders signed by President Trump are intended to reduce regulatory barriers to housing construction and to expand access to mortgage credit for first-time buyers.
Turner told host Kristen that "the number one issue that I hear what is crippling development and construction is the regulatory environment," and said the administration is "laser focus" on tearing down those barriers so "the builders can build and buyers can buy." He framed the measures as part of public–private efforts to increase housing supply and lower costs.
The secretary also urged a return of community lenders to residential mortgage markets, saying that regulatory changes after the Dodd-Frank Act had limited community banks' participation. "We want to bring back the community lenders, bring back the community banks for first-time home buyers," Turner said, adding that the executive actions are designed to expand credit availability.
Turner cited HUD's Federal Housing Administration role in supporting borrowers: "Last year at HUD, we helped over 1 million people with our FHA mortgage insurance program to afford a home. A million people. And 80% of those were first-time home buyers," he said, presenting those figures as evidence HUD is helping expand access.
On underwriting changes, Turner said FHA will begin accepting VantageScore 4.0 and FICO 10T "in the next few months" so mortgage consideration can reflect rental-payment histories and bring more prospective buyers into eligibility. He emphasized that applicants will still need to be creditworthy even as scoring models broaden who is considered.
Turner framed homeownership as a key vehicle for building generational wealth and strengthening communities, saying it supports stability, family formation and economic opportunity. The interview closed with Turner thanking the NYSE hosts; he did not provide detailed timelines for the executive orders beyond saying implementation steps are expected in the coming months.
No formal rule text, regulatory thresholds, dollar-cost estimates or a timetable for rulemaking were provided during the interview.
