If you own a home in Hampstead, Surf City, Burgaw, Wilmington or Leland and have been waiting for a better moment to refinance, there is a closing-cost story worth following this fall. The Federal Housing Finance Agency says it is working to take Fannie Mae’s title insurance waiver pilot nationwide, with more details expected in early December. Here is what the program does, what it does not do, and how it could fit into a Cape Fear refinance decision.
What Was Announced
As National Mortgage News reported on Nov. 9, 2026, FHFA Director Bill Pulte posted that the agency is “actively working, per the President’s executive order, to expand the title insurance pilot program across the United States,” adding that FHFA “will be publishing updates in early December.” The pilot is currently limited to certain loans, regions and participating lenders. The same report notes that the executive order also calls for the program to become permanent.
Not everyone is on board. The American Land Title Association urged Congress on Nov. 9 to look closely at lien-related risks, and a bipartisan pair of lawmakers has previously proposed guardrails on title waivers. In other words, the direction is clear, but the final rules are not written yet.
How the Title Acceptance Pilot Works
Fannie Mae calls it the Title Acceptance pilot. According to Fannie Mae’s pilot transparency page, certain refinance transactions determined to have low title risk may be sold to Fannie Mae without a lender’s title insurance policy or an attorney opinion letter. The page lists the pilot as active through Nov. 30, 2027.
FHFA’s original pilot FAQ fills in the mechanics:
- Refinances only. The pilot was limited to certain refinance loans with loan-to-value ratios below 80 percent. Purchases were left out because title stays with the same owner in a refinance, which FHFA described as lower risk.
- Automated title review. An automated process assesses title risk. If it confidently finds the risk is low, the lender can skip the lender’s policy and instead pays a fee to Fannie Mae to cover the chance of an unexpected defect.
- Same lien standards. The loan still has to be a valid first lien, free of prior liens or encumbrances.
- Estimated savings. FHFA estimated homeowners could save $500 to $1,500 on a refinance. National Mortgage News cited savings of up to $2,000 per loan.
Why This Matters in North Carolina
North Carolina is an attorney-closing state, so local homeowners are used to an attorney handling the title search and closing. That is one reason the “attorney opinion letter” piece of the pilot is worth noticing: Fannie Mae’s description covers both the lender’s title policy and the attorney opinion letter. How a nationwide version would interact with North Carolina closing practice is one of the details to watch in the December update, and it is a good question to put to both your lender and your closing attorney.
A few practical points for Cape Fear owners:
- Owner’s coverage is separate. The pilot concerns the lender’s policy. FHFA noted homeowners may still buy their own title coverage at their own cost.
- Equity matters. Under the pilot’s original terms, you needed meaningful equity (LTV under 80 percent). Many owners who bought in Pender, New Hanover or Brunswick several years ago may be in that range, but your lender will confirm with a current valuation.
- Rates still drive the decision. A few hundred to a couple thousand dollars in savings helps, but it rarely makes a refinance work on its own. Compare your current rate against today’s quotes first. Our guide to comparing lenders and Loan Estimates walks through how to read the numbers.
Who Might Benefit Most
The likeliest beneficiaries are owners with solid equity who are considering a rate-and-term refinance, owners pulling out of an adjustable-rate loan before a reset, and owners consolidating a first and second mortgage. Coastal owners in Surf City or Topsail Beach with older purchase loans, or mainland owners in Hampstead and Rocky Point who bought before the recent run-up in rates, should keep an eye on the December update.
If you are buying rather than refinancing, the pilot as described does not change your closing costs. Our North Carolina buyer closing cost guide covers what to budget for on a purchase.
What to Do Now
- Pull your current mortgage statement and note your rate, balance and remaining term.
- Ask two or three lenders whether they participate in Fannie Mae’s Title Acceptance pilot today, and whether they expect to after December.
- Request Loan Estimates side by side and look specifically at the title-related lines in Section B and C.
- Talk with your closing attorney about how a waiver would affect the title work on your file.
- Watch for FHFA’s early-December update before locking in a decision that depends on the savings.
FAQ: Title Insurance Waivers and Refinancing
Does the waiver apply when I buy a home?
Not under the pilot as described by FHFA and Fannie Mae. It covers certain low-risk refinance transactions.
Will I lose title protection on my home?
The waiver concerns the lender’s policy. FHFA said owners can still buy their own title coverage, and that if a defect surfaces after the refinance, the homeowner is not responsible for curing it under the pilot.
When will the national expansion start?
No start date has been announced. FHFA said it will publish updates in early December 2026.
Is my lender in the pilot?
Fannie Mae generally does not publish participant lists, so ask your lender directly.
Thinking About a Refinance or a Move?
Whether you are refinancing to stay put or thinking about selling and buying elsewhere in the Cape Fear, it helps to understand your home’s current value and your options. Reach out to Aspyre Collective and we will help you run the numbers with local context.
