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Barclays said that U.S. President Donald Trump’s executive order to cut housing costs “could do significant damage to investors in mortgage-backed securities if adopted as currently proposed.”
Barclays analysts Michael Khankin and Pratham Saxena said in a note that the proposal would benefit those wishing to refinance their mortgages, “at the expense of those who buy real estate, property insurance companies, credit bureaus, real estate appraisers, and current investors in mortgage-backed securities,” according to Bloomberg News.
"We therefore expect political opposition from the majority of workers in the sector to any large-scale changes," the analysts added, noting that the wording of the executive order "gives the Federal Agency for Housing Finance a broad margin to determine what will be actually implemented in the end."
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