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Sec. 3. Modernization of Home Home Loan Disclosure Act (HMDA) Data Collection and Disclosure. (a) The CFPB shall think about, as suitable and consistent with relevant law, proposing amendments to Guideline C to raise the possession threshold for exemption from HMDA information collection and reporting requirements for smaller sized banks, to exclude inquiries from the scope of HMDA, and to make sure that disclosures safeguard privacy and minimize concerns, consisting of insufficiently tailored, expensive, and complex software application and training required for reporting banks.

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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 Housing Finance Company (FHFA) will think about, as suitable and consistent with appropriate law: (i) modifying capital policies, constant with suitable risk-management requirements, to tailor risk weights for all banks, including community banks and other smaller banks, for portfolio home loans, servicing rights, and warehouse credit lines to the material credit threat of the direct exposure; (ii) modernizing security evaluation and transfer systems in between the Federal Reserve and Federal Mortgage Banks (FHLBs); (iii) expanding access to longerdated FHLB advances connected to property mortgage assets; (iv) developing targeted FHLB liquidity programs for entrylevel real estate, owneroccupied purchase loans, and little domestic contractors; (v) accelerating collateral boarding and assessment procedures through standardized data and digital paperwork; and (vi) refocusing the FHLBs' Inexpensive Housing Program on faster-cycle execution and greater monetary utilize for small and owner-occupied real estate projects.

(c) Within 120 days of the date of this order, the Director of the FHFA, in assessment with the heads of other appropriate 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 plan on the efficiency of national housing finance markets.

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Building And 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, will consider, as proper and consistent with suitable law, modifying supervisory guidance both to leave out one-to four-family property advancement and construction loaning from industrial real estate concentration guidance and to ensure supervisory expectations support accountable building lending 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 suitable and consistent with relevant law and their statutory authorities: (i) modernizing appraisal regulations and guidance to expand making use of alternative evaluation designs, desktop and hybrid appraisals, and artificial intelligence evaluation tools; (ii) simplifying appraiser certification requirements; and (iii) reducing 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 proper and consistent with relevant law: (i) eliminating unnecessary 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 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 suitable law: (i) aligning supervisory expectations to support portfolio mortgage maintenance as a core community banking function; extending curefirst standards to goodfaith servicing errors; simplifying loss mitigation requirements; and releasing a proposed guideline providing exemptions from complex home mortgage services for smaller banks; and (ii) guaranteeing that supervisory examinations of carrying out, prudently underwritten portfolio loans do not concentrate on technical flaws or count 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 think about, as suitable and constant with suitable law, promoting a policy against enforcement actions for violations of customer financial laws that: (i) dissuades imposing civil monetary charges, other than where the underlying infractions are willful, understanding, or reckless; (ii) thinks about excellent business conduct, including a bank's correction of good-faith, technical compliance errors; and (iii) permits institutions an affordable chance for self-identification and removal of suitable compliance matters.