Comparing Assistance vs Short Sale Options

Sec. 3. Modernization of Home Home Loan Disclosure Act (HMDA) Data Collection and Disclosure. (a) The CFPB shall consider, as proper and consistent with applicable law, proposing amendments to Guideline C to raise the property limit for exemption from HMDA data collection and reporting requirements for smaller sized banks, to leave out questions from the scope of HMDA, and to ensure that disclosures protect privacy and decrease burdens, consisting of insufficiently customized, costly, and complex software and training needed for reporting monetary institutions.

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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 Real Estate Financing Company (FHFA) shall think about, as proper and constant with relevant law: (i) modifying capital guidelines, consistent with proper risk-management requirements, to customize threat weights for all banks, including neighborhood banks and other smaller banks, for portfolio home mortgages, servicing rights, and storage facility lines of credit to the product credit threat of the direct exposure; (ii) improving collateral evaluation and transfer systems in between the Federal Reserve and Federal Mortgage Banks (FHLBs); (iii) broadening access to longerdated FHLB advances tied to domestic home mortgage possessions; (iv) producing targeted FHLB liquidity programs for entrylevel real estate, owneroccupied purchase loans, and small residential contractors; (v) speeding up security boarding and assessment processes through standardized data and digital documents; 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 projects.

(c) Within 120 days of the date of this order, the Director of the FHFA, in consultation with the heads of other relevant executive departments and firms, will submit a report to the Assistant to the President for Economic Policy and the Director of the Office of Management and Budget on the performance of national housing financing markets.

Top State Assistance Programs for Homeowners

Building And Construction and Real Estate 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 appropriate and constant with appropriate law, modifying supervisory guidance both to omit one-to four-family residential development and building and construction lending from industrial genuine estate concentration guidance and to guarantee supervisory expectations support accountable construction financing by community banks.

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6. Appraisal Modernization. (a) The Vice Chairman for Supervision 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 consistent with relevant law and their statutory authorities: (i) updating appraisal policies and assistance to broaden making use of alternative evaluation designs, desktop and hybrid appraisals, and expert system evaluation tools; (ii) simplifying appraiser credentials requirements; and (iii) decreasing appraisal requirements for low-risk deals, consisting of low loan-to-value refinancing and smallbalance loans; and setting clear appraisal timelines.

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

8. Servicing 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 constant with applicable law: (i) lining up supervisory expectations to support portfolio home mortgage maintenance as a core neighborhood banking function; extending curefirst requirements to goodfaith servicing errors; simplifying loss mitigation requirements; and providing a proposed guideline offering exemptions from complicated mortgage services for smaller sized banks; and (ii) making sure that supervisory evaluations of carrying out, wisely underwritten portfolio loans do not focus on technical problems or count on developing supervisory interpretations.

9. Enforcement. (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 shall consider, as suitable and consistent with appropriate law, promulgating a policy versus enforcement actions for offenses of consumer monetary laws that: (i) discourages enforcing civil monetary penalties, other than where the underlying violations are willful, understanding, or negligent; (ii) considers good corporate conduct, consisting of a bank's correction of good-faith, technical compliance mistakes; and (iii) enables institutions an affordable opportunity for self-identification and removal of appropriate compliance matters.