HUD Secretary Turner on Bringing Down Housing Costs

Summary

HUD Secretary Scott Turner discusses the administration's plan to lower housing costs through deregulation, mortgage credit expansion, and manufactured housing flexibility. He highlights executive orders to reduce building barriers and return community banks and credit unions to mortgage lending, plus HUD's adoption of VantageScore 4.0 and FICO TNT. He also comments on the bipartisan housing bill and a possible $5,000 Trump dividend.

• Secretary Turner says the administration aims to lower housing costs through deregulation and cutting bureaucracy.
• HUD rescinded the Affirmatively Furthering Fair Housing rule to restore local control.
• Two executive orders target affordable housing barriers and mortgage credit access.
• Community banks and credit unions are expected to re-enter mortgage lending after Dodd-Frank.
• HUD will accept VantageScore 4.0 and FICO TNT to widen potential homebuyer credit.
• Manufactured housing flexibility from the bipartisan housing bill is seen as important for affordable housing.
• Turner says the president does not control interest rates but wants them down.
• A potential $5,000 Trump dividend is up to Congress and the president.