Title waivers going national soon Pulte says; UWM, Rate already in

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  • Forward Look: Prepare for updates on the program's expansion in early December. 
  • Expert Quote: "As policymakers continue addressing the nation's housing affordability challenges, consumer protection must remain part of the conversation," — Chris Morton, ALTA CEOOverview bullets generated by AI with editorial review. 

The expansion of government-sponsored enterprise Fannie Mae's title waiver pilot is on track to make more progress next month, according to Federal Housing Finance Agency Director Bill Pulte.

"We are actively working, per the President's executive order, to expand the title insurance pilot program across the United States," FHFA Director Bill Pulte said in a social media post on X late Friday. "We will be publishing updates in early December."

That means that the current pilot — which is currently limited to certain loans, regions and lenders like UWM and Rate — will be made broadly available despite some wariness from Congress and the title industry. The executive order also calls for it to be made a permanent program.

If this happens, certain refinances deemed to have low title risk won't need title insurance or attorney opinion letters with the aim of reducing borrowers' closing costs, according to Fannie's description of the pilot. 

One potential hurdle to or restriction on this may come from a bipartisan group within Congress. A pair of legislators, both of which have been re-elected, proposed strict guardrails on the program beyond its current limited availability.

The American Land Title Association on Monday urged members of Congress to review lien-related risks as they engage in lawmaking with the midterms behind them.

"As policymakers continue addressing the nation's housing affordability challenges, consumer protection must remain part of the conversation," ALTA CEO Chris Morton said in a press statement commenting on Congress's post-midterm agenda.

Lawmakers have proposed legislation to this end in the past.

Title waivers' history in Congress and at the FHFA

Rep. Andrew Gabarino, R-N.Y., and Vicente Gonzalez, D-Texas, introduced a bill in 2025 that would require all enterprise mortgages to have state-regulated insurance covering title risk or meet a minimal capital requirement for an additional 1% of the unpaid principal balance

The bill has gotten some broader support within Congress but not enough to move forward, and it's unclear whether Democrats' increased influence next year would change that.

The title waiver push originated during the Biden administration and Pulte's predecessor, former FHFA Director Sandra Thompson, faced some opposition by a bipartisan group of legislators then, too, but more regarding the notification process around the pilot.

Thompson responded by setting up pilot transparency pages at the enterprises. Fannie's currently lists the title pilot as the only ongoing one with authorization through November of next year.

Fannie's current pilot transparency page indicates that it gets updated twice a year, with new projects launched in between reporting periods added within 30 days of launch. The current one indicates the title waiver pilot is authorized through November of next year.

Mortgage lenders should keep a close eye on current GSE rules as policy evolves and weigh potential efficiencies from waivers, which can save up to $2,000 per loan, against potential title-fraud risk, which is rate on insured loans and has an $207,000 average cost.

"Affordability and consumer protection should go hand in hand, and the title industry looks forward to working with elected officials across the country to advance commonsense solutions that lower costs while preserving the safeguards," Morton said

Lenders that have reported piloting title waivers have included United Wholesale Mortgage and Rate.