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Modernization of Home Home Loan Disclosure Act (HMDA) Data Collection and Disclosure. (a) The CFPB shall think about, as suitable and constant with appropriate law, proposing amendments to Guideline C to raise the property limit for exemption from HMDA information 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 reduce concerns, consisting of insufficiently tailored, expensive, and complex software application and training required for reporting monetary institutions.

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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 Company (FHFA) will consider, as appropriate and consistent with suitable law: (i) revising capital guidelines, constant with suitable risk-management requirements, to tailor risk weights for all banks, consisting of neighborhood banks and other smaller banks, for portfolio mortgages, servicing rights, and storage facility credit lines to the material credit risk of the direct exposure; (ii) modernizing security assessment and transfer systems between the Federal Reserve and Federal Home Mortgage Banks (FHLBs); (iii) expanding access to longerdated FHLB advances tied to domestic home loan possessions; (iv) creating targeted FHLB liquidity programs for entrylevel housing, owneroccupied purchase loans, and little domestic home builders; (v) speeding up collateral boarding and valuation processes through standardized information and digital documents; and (vi) refocusing the FHLBs' Affordable Real estate Program on faster-cycle execution and higher financial take advantage of for small and owner-occupied housing projects.

(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 agencies, will send a report to the Assistant to the President for Economic Policy and the Director of the Workplace of Management and Spending plan on the performance of national housing financing markets.

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Sec. 5. 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 think about, as proper and constant with appropriate law, modifying supervisory guidance both to leave out one-to four-family property development and building and construction financing from industrial realty concentration guidance and to ensure supervisory expectations support responsible building and construction financing by community 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 consider, as proper and constant with appropriate law and their statutory authorities: (i) updating appraisal regulations and guidance to broaden the usage of alternative evaluation models, desktop and hybrid appraisals, and expert system assessment tools; (ii) streamlining appraiser certification requirements; and (iii) minimizing appraisal requirements for low-risk deals, including low loan-to-value refinancing and smallbalance loans; and setting clear appraisal timelines.

Digital Home Loan Modernization. (a) The Secretary of Farming, the Secretary of HUD, the Secretary of VA, and the Director of the FHFA will consider, as proper and constant with suitable law: (i) eliminating 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 mortgage requirements.

8. Servicing 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 appropriate and constant with suitable law: (i) aligning supervisory expectations to support portfolio mortgage servicing as a core community banking function; extending curefirst standards to goodfaith maintenance errors; streamlining loss mitigation requirements; and issuing a proposed guideline providing exemptions from intricate mortgage services for smaller banks; and (ii) ensuring that supervisory evaluations of performing, wisely underwritten portfolio loans do not concentrate on technical flaws or depend on developing 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 will consider, as appropriate and constant with relevant law, promoting a policy against enforcement actions for offenses of customer monetary laws that: (i) prevents imposing civil monetary charges, except where the underlying infractions are willful, understanding, or negligent; (ii) thinks about good business conduct, including a bank's correction of good-faith, technical compliance errors; and (iii) enables organizations a reasonable chance for self-identification and remediation of proper compliance matters.