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Sec. 3. Modernization of Home Home Loan Disclosure Act (HMDA) Data Collection and Disclosure. (a) The CFPB shall think about, as appropriate and consistent with appropriate law, proposing modifications to Regulation C to raise the asset threshold for exemption from HMDA data collection and reporting requirements for smaller sized banks, to exclude inquiries from the scope of HMDA, and to make sure that disclosures safeguard privacy and decrease problems, including insufficiently tailored, pricey, and complex software and training required for reporting monetary organizations.

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4. Capital and Liquidity Positioning. (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 Finance Company (FHFA) will consider, as proper and consistent with suitable law: (i) modifying capital guidelines, consistent with appropriate risk-management requirements, to customize threat weights for all banks, consisting of neighborhood banks and other smaller sized banks, for portfolio home loans, servicing rights, and storage facility credit lines to the material credit threat of the direct exposure; (ii) updating security appraisal and transfer systems between the Federal Reserve and Federal Mortgage Banks (FHLBs); (iii) broadening access to longerdated FHLB advances connected to residential home mortgage possessions; (iv) producing targeted FHLB liquidity programs for entrylevel real estate, owneroccupied purchase loans, and little domestic home builders; (v) speeding up security boarding and appraisal processes through standardized information and digital paperwork; and (vi) refocusing the FHLBs' Inexpensive Housing Program on faster-cycle execution and higher financial take advantage of for small-scale and owner-occupied housing tasks.

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

New Housing Assistance Programs for Families

Building And Construction and Housing Supply. (a) 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 think about, as suitable and constant with suitable law, revising supervisory guidance both to omit one-to four-family domestic development and construction financing from commercial genuine estate concentration guidance and to guarantee 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 think about, as proper and consistent with suitable law and their statutory authorities: (i) modernizing appraisal regulations and assistance to broaden making use of alternative appraisal models, desktop and hybrid appraisals, and expert system valuation tools; (ii) streamlining appraiser certification requirements; and (iii) minimizing appraisal requirements for low-risk transactions, including low loan-to-value refinancing and smallbalance loans; and setting clear appraisal timelines.

Digital Home Loan Modernization. (a) The Secretary of Agriculture, the Secretary of HUD, the Secretary of VA, and the Director of the FHFA will consider, as suitable and constant with relevant law: (i) eliminating unnecessary wetsignature requirements for disclosures, applications, closing files, and similar documents; (ii) standardizing acceptance of electronic signatures, e-notes, and remote online notarization; and (iii) promoting digital 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 will think about, as appropriate and constant with suitable law: (i) aligning supervisory expectations to support portfolio mortgage maintenance as a core community banking function; extending curefirst standards to goodfaith servicing errors; simplifying loss mitigation requirements; and issuing a proposed rule offering exemptions from complex mortgage services for smaller banks; and (ii) ensuring that supervisory assessments of carrying out, prudently underwritten portfolio loans do not focus on technical problems or rely 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 shall consider, as appropriate and consistent with suitable law, promulgating a policy against enforcement actions for offenses of consumer financial laws that: (i) dissuades enforcing civil financial charges, other than where the underlying infractions are willful, knowing, or negligent; (ii) thinks about great corporate conduct, including a bank's correction of good-faith, technical compliance errors; and (iii) permits institutions a reasonable chance for self-identification and remediation of proper compliance matters.