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Modernization of Home Home Loan Disclosure Act (HMDA) Data Collection and Disclosure. (a) The CFPB shall consider, as suitable and consistent with relevant law, proposing changes to Regulation C to raise the property limit for exemption from HMDA data collection and reporting requirements for smaller banks, to exclude inquiries from the scope of HMDA, and to make sure that disclosures secure privacy and reduce burdens, consisting of insufficiently customized, costly, and complex software and training needed for reporting financial institutions.

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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 Financing Company (FHFA) will consider, as suitable and constant with appropriate law: (i) revising capital regulations, consistent with appropriate risk-management requirements, to customize danger weights for all banks, including neighborhood banks and other smaller sized banks, for portfolio home mortgages, maintenance rights, and storage facility credit lines to the material credit danger of the direct exposure; (ii) modernizing collateral evaluation and transfer systems between the Federal Reserve and Federal Home Mortgage Banks (FHLBs); (iii) expanding access to longerdated FHLB advances connected to property mortgage possessions; (iv) creating targeted FHLB liquidity programs for entrylevel real estate, owneroccupied purchase loans, and little domestic home builders; (v) speeding up security boarding and valuation processes through standardized information and digital documentation; and (vi) refocusing the FHLBs' Inexpensive Real estate Program on faster-cycle execution and greater 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 firms, will 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 national housing financing markets.

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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, shall consider, as proper and consistent with applicable law, revising supervisory assistance both to exclude one-to four-family property advancement and construction loaning from industrial genuine estate concentration guidance and to guarantee supervisory expectations support accountable 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 shall think about, as suitable and constant with relevant law and their statutory authorities: (i) updating appraisal regulations and guidance to broaden using alternative assessment models, desktop and hybrid appraisals, and expert system appraisal tools; (ii) streamlining appraiser certification requirements; and (iii) reducing appraisal requirements for low-risk transactions, including low loan-to-value refinancing and smallbalance loans; and setting clear appraisal timelines.

Digital Home Mortgage Modernization. (a) The Secretary of Agriculture, the Secretary of HUD, the Secretary of VA, and the Director of the FHFA shall think about, as suitable and consistent with relevant law: (i) removing 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 loan standards.

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 suitable and constant with appropriate law: (i) aligning supervisory expectations to support portfolio home mortgage servicing as a core community banking function; extending curefirst requirements to goodfaith maintenance errors; simplifying loss mitigation requirements; and issuing a proposed guideline supplying exemptions from intricate home loan services for smaller sized banks; and (ii) guaranteeing that supervisory examinations of carrying out, prudently underwritten portfolio loans do not concentrate on technical flaws or depend 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 will consider, as appropriate and constant with applicable law, promulgating a policy versus enforcement actions for infractions of customer financial laws that: (i) prevents imposing civil financial charges, except where the underlying infractions are willful, understanding, or reckless; (ii) considers excellent corporate conduct, including a bank's correction of good-faith, technical compliance errors; and (iii) enables institutions an affordable opportunity for self-identification and removal of suitable compliance matters.