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Sec. 3. Modernization of Home Home Loan Disclosure Act (HMDA) Data Collection and Disclosure. (a) The CFPB shall consider, as appropriate and consistent with applicable law, proposing modifications to Regulation C to raise the asset threshold for exemption from HMDA information collection and reporting requirements for smaller banks, to exclude inquiries from the scope of HMDA, and to make sure that disclosures secure personal privacy and lower burdens, consisting of insufficiently customized, expensive, and complex software application and training required for reporting banks.

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4. Capital and Liquidity Positioning. (a) The Vice Chairman for Supervision of the Federal Reserve, the Chairman of the NCUA Board, the Chairperson of the Board of Directors of the FDIC, the Comptroller of the Currency, and the Director of the Federal Housing Financing Company (FHFA) will consider, as proper and constant with appropriate law: (i) revising capital policies, consistent with suitable risk-management requirements, to tailor risk weights for all banks, including community banks and other smaller banks, for portfolio mortgages, servicing rights, and warehouse lines of credit to the material credit risk of the exposure; (ii) modernizing collateral valuation and transfer systems in between the Federal Reserve and Federal Mortgage Banks (FHLBs); (iii) broadening access to longerdated FHLB advances tied to residential home mortgage assets; (iv) creating targeted FHLB liquidity programs for entrylevel housing, owneroccupied purchase loans, and little domestic builders; (v) accelerating collateral boarding and valuation procedures through standardized information and digital paperwork; and (vi) refocusing the FHLBs' Cost Effective Housing Program on faster-cycle execution and greater monetary take advantage of for small-scale and owner-occupied housing jobs.

(c) Within 120 days of the date of this order, the Director of the FHFA, in consultation with the heads of other pertinent executive departments and firms, shall submit a report to the Assistant to the President for Economic Policy and the Director of the Workplace of Management and Budget plan on the performance of nationwide housing finance markets.

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Building And Construction and Housing Supply. (a) The Vice Chairman for Guidance of the Federal Reserve, the Director of the CFPB, the Chairman of the NCUA Board, the Chairperson of the Board of Directors of the FDIC, and the Comptroller of the Currency, shall consider, as suitable and constant with suitable law, modifying supervisory assistance both to leave out one-to four-family domestic advancement and construction lending from business real estate concentration guidance and to make sure supervisory expectations support accountable construction financing by neighborhood banks.

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6. Appraisal Modernization. (a) The Vice Chairman for Guidance of the Federal Reserve, the Director of the CFPB, the Chairman of the NCUA Board, the Chairperson of Board of Directors of the FDIC, the Comptroller of the Currency, and the Director of the FHFA shall consider, as proper and constant with appropriate law and their statutory authorities: (i) modernizing appraisal policies and guidance to broaden using alternative appraisal models, desktop and hybrid appraisals, and expert system valuation tools; (ii) streamlining appraiser credentials requirements; and (iii) lowering appraisal requirements for low-risk transactions, consisting of low loan-to-value refinancing and smallbalance loans; and setting clear appraisal timelines.

Sec. 7. Digital Home Loan Modernization. (a) The Secretary of Farming, the Secretary of HUD, the Secretary of VA, and the Director of the FHFA shall think about, as suitable and consistent with applicable law: (i) removing unneeded wetsignature requirements for disclosures, applications, closing documents, and similar files; (ii) standardizing acceptance of electronic signatures, e-notes, and remote online notarization; and (iii) promoting digital home mortgage requirements.

8. Maintenance and Supervisory Certainty. (a) The Secretary of HUD, the Vice Chairman for Guidance of the Federal Reserve, the Director of the CFPB, the Chairman of the NCUA Board, the Chairperson of the Board of Directors of the FDIC, and the Comptroller of the Currency shall think about, as suitable and consistent with appropriate law: (i) lining up supervisory expectations to support portfolio home loan servicing as a core community banking function; extending curefirst standards to goodfaith servicing errors; streamlining loss mitigation requirements; and issuing a proposed rule providing exemptions from complex home loan services for smaller banks; and (ii) making sure that supervisory evaluations of performing, wisely underwritten portfolio loans do not concentrate on technical flaws or depend on progressing supervisory interpretations.

9. Enforcement. (a) The Vice Chairman for Guidance of the Federal Reserve, the Director of the CFPB, the Chairman of the NCUA Board, the Chairperson of the Board of Directors of the FDIC, and the Comptroller of the Currency will consider, as proper and constant with relevant law, promulgating a policy against enforcement actions for offenses of consumer monetary laws that: (i) discourages enforcing civil monetary penalties, other than where the underlying violations are willful, knowing, or reckless; (ii) thinks about great corporate conduct, consisting of a bank's correction of good-faith, technical compliance errors; and (iii) allows institutions an affordable chance for self-identification and removal of proper compliance matters.