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Sec. 3. Modernization of Home Home Loan Disclosure Act (HMDA) Data Collection and Disclosure. (a) The CFPB will think about, as suitable and constant with suitable law, proposing amendments to Guideline C to raise the possession threshold for exemption from HMDA information collection and reporting requirements for smaller banks, to exclude inquiries from the scope of HMDA, and to guarantee that disclosures protect personal privacy and minimize concerns, consisting of insufficiently tailored, pricey, and complex software application and training required for reporting monetary organizations.

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4. Capital and Liquidity Alignment. (a) The Vice Chairman for Guidance 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 Agency (FHFA) will think about, as appropriate and constant with suitable law: (i) modifying capital policies, consistent with suitable risk-management requirements, to tailor threat weights for all banks, consisting of neighborhood banks and other smaller sized banks, for portfolio home loans, maintenance rights, and warehouse lines of credit to the material credit risk of the exposure; (ii) modernizing security evaluation and transfer systems between the Federal Reserve and Federal Home Mortgage Banks (FHLBs); (iii) broadening access to longerdated FHLB advances tied to domestic mortgage properties; (iv) developing targeted FHLB liquidity programs for entrylevel real estate, owneroccupied purchase loans, and little property builders; (v) accelerating security boarding and assessment procedures through standardized information and digital documents; and (vi) refocusing the FHLBs' Economical Real estate Program on faster-cycle execution and higher financial utilize for small-scale and owner-occupied real estate jobs.

(c) Within 120 days of the date of this order, the Director of the FHFA, in assessment with the heads of other pertinent executive departments and agencies, shall send a report to the Assistant to the President for Economic Policy and the Director of the Office of Management and Spending plan on the effectiveness of nationwide real estate financing markets.

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Building And Construction and Real Estate 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 proper and consistent with suitable law, revising supervisory assistance both to omit one-to four-family domestic advancement and building financing from commercial real estate concentration guidance and to guarantee supervisory expectations support accountable construction loaning 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 will think about, as appropriate and constant with relevant law and their statutory authorities: (i) updating appraisal policies and guidance to broaden making use of alternative assessment models, desktop and hybrid appraisals, and synthetic intelligence assessment tools; (ii) simplifying appraiser credentials requirements; and (iii) decreasing appraisal requirements for low-risk deals, including low loan-to-value refinancing and smallbalance loans; and setting clear appraisal timelines.

Digital Home Mortgage Modernization. (a) The Secretary of Agriculture, the Secretary of HUD, the Secretary of VA, and the Director of the FHFA will consider, as appropriate and constant with applicable law: (i) eliminating unneeded wetsignature requirements for disclosures, applications, closing documents, and comparable files; (ii) standardizing approval of electronic signatures, e-notes, and remote online notarization; and (iii) promoting digital mortgage standards.

8. Maintenance and Supervisory Certainty. (a) The Secretary of HUD, the Vice Chairman for Supervision 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 suitable and constant with suitable law: (i) lining up supervisory expectations to support portfolio home loan servicing as a core community banking function; extending curefirst standards to goodfaith maintenance errors; streamlining loss mitigation requirements; and providing a proposed guideline supplying exemptions from complicated mortgage services for smaller banks; and (ii) guaranteeing that supervisory assessments of performing, prudently underwritten portfolio loans do not focus on technical defects or count on evolving supervisory analyses.

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 shall think about, as appropriate and consistent with appropriate law, promulgating a policy versus enforcement actions for violations of customer financial laws that: (i) prevents imposing civil monetary penalties, other than where the underlying offenses are willful, understanding, or reckless; (ii) thinks about excellent corporate conduct, consisting of a bank's correction of good-faith, technical compliance errors; and (iii) allows institutions a reasonable opportunity for self-identification and remediation of proper compliance matters.