President Donald Trump's federal housing finance director, Bill Pulte, quietly granted government-backed lenders the authority to nearly double a $200 billion bond purchase that Trump ordered to try to lower mortgage rates WASHINGTON -- President Donald Trump's federal housing finance director, Bill Pulte, quietly granted government-backed lenders the authority to nearly double a $200 billion bond purchase that Trump ordered to try to lower mortgage rates, a move that could introduce a new level of risk for the companies.

Adjustable-rate mortgages contributed significantly to the 2008 housing crisis, as many borrowers with poor credit struggled to make payments when their rates increased.