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Sec. 3. Modernization of Home Home Mortgage Disclosure Act (HMDA) Data Collection and Disclosure. (a) The CFPB shall think about, as appropriate and constant with relevant law, proposing changes to Policy C to raise the asset threshold for exemption from HMDA data collection and reporting requirements for smaller sized banks, to exclude queries from the scope of HMDA, and to ensure that disclosures secure personal privacy and decrease burdens, including insufficiently tailored, costly, and complex software and training needed for reporting monetary institutions.

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4. Capital and Liquidity Alignment. (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 Agency (FHFA) shall think about, as proper and consistent with relevant law: (i) modifying capital regulations, constant with suitable risk-management requirements, to customize threat weights for all banks, including community banks and other smaller sized banks, for portfolio mortgages, servicing rights, and warehouse lines of credit to the product credit threat of the exposure; (ii) modernizing security valuation and transfer systems between the Federal Reserve and Federal Home Mortgage Banks (FHLBs); (iii) broadening access to longerdated FHLB advances connected to domestic home loan possessions; (iv) producing targeted FHLB liquidity programs for entrylevel housing, owneroccupied purchase loans, and small residential home builders; (v) speeding up security boarding and evaluation processes through standardized data and digital paperwork; and (vi) refocusing the FHLBs' Cost Effective Housing Program on faster-cycle execution and higher monetary take advantage of for small-scale and owner-occupied real estate projects.

(c) Within 120 days of the date of this order, the Director of the FHFA, in consultation with the heads of other pertinent executive departments and agencies, shall submit a report to the Assistant to the President for Economic Policy and the Director of the Workplace of Management and Spending plan on the efficiency of national housing financing markets.

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Sec. 5. 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, shall consider, as suitable and constant with suitable law, modifying supervisory guidance both to leave out one-to four-family residential development and building loaning from industrial genuine 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 shall think about, as suitable and consistent with appropriate law and their statutory authorities: (i) modernizing appraisal regulations and assistance to broaden the usage of alternative assessment models, desktop and hybrid appraisals, and expert system assessment tools; (ii) streamlining appraiser credentials requirements; and (iii) minimizing appraisal requirements for low-risk transactions, 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 consider, as appropriate and constant with applicable law: (i) eliminating unnecessary wetsignature requirements for disclosures, applications, closing files, and comparable files; (ii) standardizing approval 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 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 consider, as proper and consistent with appropriate law: (i) aligning supervisory expectations to support portfolio home loan servicing as a core neighborhood banking function; extending curefirst requirements to goodfaith maintenance errors; simplifying loss mitigation requirements; and providing a proposed guideline providing exemptions from complicated home loan services for smaller banks; and (ii) making sure that supervisory assessments of carrying out, prudently underwritten portfolio loans do not focus on technical flaws 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 will think about, as proper and consistent with applicable law, promoting a policy against enforcement actions for offenses of customer financial laws that: (i) prevents enforcing civil monetary penalties, other than where the underlying violations are willful, knowing, or negligent; (ii) considers good business conduct, including a bank's correction of good-faith, technical compliance mistakes; and (iii) allows organizations an affordable opportunity for self-identification and remediation of suitable compliance matters.