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Sec. 3. Modernization of Home Home Mortgage Disclosure Act (HMDA) Data Collection and Disclosure. (a) The CFPB shall consider, as appropriate and consistent with suitable law, proposing changes to Guideline C to raise the asset threshold for exemption from HMDA data collection and reporting requirements for smaller banks, to leave out queries from the scope of HMDA, and to make sure that disclosures safeguard personal privacy and lower concerns, consisting of insufficiently customized, costly, and complex software and training needed for reporting banks.

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4. Capital and Liquidity Alignment. (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 Finance Agency (FHFA) will think about, as proper and consistent with appropriate law: (i) modifying capital policies, constant with appropriate risk-management requirements, to tailor danger weights for all banks, consisting of community banks and other smaller sized banks, for portfolio mortgages, servicing rights, and warehouse lines of credit to the material credit risk of the direct exposure; (ii) updating security assessment and transfer systems between the Federal Reserve and Federal Home Loan Banks (FHLBs); (iii) broadening access to longerdated FHLB advances connected to domestic home loan assets; (iv) creating targeted FHLB liquidity programs for entrylevel housing, owneroccupied purchase loans, and small residential builders; (v) accelerating collateral boarding and valuation processes through standardized data and digital documents; and (vi) refocusing the FHLBs' Affordable Housing Program on faster-cycle execution and higher financial take advantage of for small and owner-occupied real estate tasks.

(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 agencies, shall send a report to the Assistant to the President for Economic Policy and the Director of the Workplace of Management and Budget on the efficiency of national real estate financing markets.

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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 proper and consistent with relevant law, revising supervisory guidance both to exclude one-to four-family residential development and building financing from commercial real estate concentration guidance and to ensure supervisory expectations support accountable building 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 consistent with relevant law and their statutory authorities: (i) updating appraisal regulations and assistance to broaden making use of alternative evaluation designs, desktop and hybrid appraisals, and expert system appraisal tools; (ii) simplifying appraiser certification requirements; and (iii) decreasing appraisal requirements for low-risk transactions, consisting of low loan-to-value refinancing and smallbalance loans; and setting clear appraisal timelines.

Sec. 7. 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 suitable and consistent with appropriate law: (i) eliminating unneeded wetsignature requirements for disclosures, applications, closing documents, and comparable documents; (ii) standardizing approval 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 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 constant with applicable law: (i) aligning supervisory expectations to support portfolio mortgage maintenance as a core community banking function; extending curefirst requirements to goodfaith servicing errors; streamlining loss mitigation requirements; and issuing a proposed guideline providing exemptions from complicated mortgage services for smaller sized banks; and (ii) ensuring that supervisory assessments of performing, prudently underwritten portfolio loans do not concentrate on technical problems or rely on developing supervisory analyses.

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 appropriate and consistent with appropriate law, promoting a policy versus enforcement actions for offenses of consumer monetary laws that: (i) dissuades imposing civil financial penalties, other than where the underlying violations are willful, understanding, or reckless; (ii) thinks about great corporate conduct, consisting of a bank's correction of good-faith, technical compliance errors; and (iii) allows organizations a sensible chance for self-identification and removal of appropriate compliance matters.