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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 proper and constant with appropriate law, proposing amendments to Policy C to raise the property threshold for exemption from HMDA information collection and reporting requirements for smaller sized banks, to leave out questions from the scope of HMDA, and to guarantee that disclosures safeguard privacy and minimize problems, consisting of insufficiently tailored, pricey, and complex software and training needed 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 Real Estate Finance Agency (FHFA) will consider, as proper and constant with relevant law: (i) revising capital regulations, consistent with proper risk-management requirements, to customize threat weights for all banks, including community banks and other smaller banks, for portfolio mortgages, maintenance rights, and warehouse credit lines to the product credit danger of the direct exposure; (ii) improving security assessment and transfer systems between the Federal Reserve and Federal Home Loan Banks (FHLBs); (iii) expanding access to longerdated FHLB advances tied to domestic mortgage possessions; (iv) producing targeted FHLB liquidity programs for entrylevel housing, owneroccupied purchase loans, and small residential home builders; (v) accelerating collateral boarding and valuation procedures through standardized information and digital paperwork; and (vi) refocusing the FHLBs' Cost Effective Real estate Program on faster-cycle execution and greater financial leverage for small 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 relevant executive departments and firms, 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 housing financing 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, will consider, as suitable and constant with applicable law, modifying supervisory guidance both to exclude one-to four-family property advancement and building loaning from business genuine estate concentration assistance 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 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 consider, as suitable and consistent with appropriate law and their statutory authorities: (i) improving appraisal policies and guidance to broaden making use of alternative valuation models, desktop and hybrid appraisals, and artificial intelligence evaluation tools; (ii) streamlining appraiser certification requirements; and (iii) decreasing appraisal requirements for low-risk transactions, including low loan-to-value refinancing and smallbalance loans; and setting clear appraisal timelines.

Digital Mortgage Modernization. (a) The Secretary of Agriculture, the Secretary of HUD, the Secretary of VA, and the Director of the FHFA shall consider, as proper and constant with relevant law: (i) removing unnecessary wetsignature requirements for disclosures, applications, closing documents, and similar documents; (ii) standardizing acceptance of electronic signatures, e-notes, and remote online notarization; and (iii) promoting digital home loan standards.

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 consider, as appropriate and constant with applicable law: (i) aligning 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 releasing a proposed rule offering exemptions from complicated mortgage services for smaller banks; and (ii) making sure that supervisory evaluations of carrying out, prudently underwritten portfolio loans do not focus on technical flaws or rely on evolving 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 think about, as proper and consistent with applicable law, promoting a policy versus enforcement actions for infractions of consumer monetary laws that: (i) dissuades imposing civil monetary penalties, other than where the underlying violations are willful, knowing, or negligent; (ii) thinks about good corporate conduct, including a bank's correction of good-faith, technical compliance errors; and (iii) permits organizations an affordable opportunity for self-identification and remediation of proper compliance matters.