Reviewing Assistance vs Short Sale Prevention

Sec. 3. Modernization of Home Home Loan Disclosure Act (HMDA) Data Collection and Disclosure. (a) The CFPB shall think about, as suitable and constant with suitable law, proposing changes to Regulation C to raise the asset threshold for exemption from HMDA data collection and reporting requirements for smaller banks, to leave out inquiries from the scope of HMDA, and to make sure that disclosures safeguard privacy and decrease burdens, consisting of insufficiently customized, pricey, and complex software and training needed for reporting financial 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 Company (FHFA) will think about, as proper and constant with appropriate law: (i) revising capital guidelines, constant with proper risk-management requirements, to tailor threat weights for all banks, consisting of neighborhood banks and other smaller banks, for portfolio home mortgages, maintenance rights, and storage facility credit lines to the product credit risk of the direct exposure; (ii) updating security assessment and transfer systems in between the Federal Reserve and Federal Mortgage Banks (FHLBs); (iii) expanding access to longerdated FHLB advances tied to property home mortgage properties; (iv) producing targeted FHLB liquidity programs for entrylevel real estate, owneroccupied purchase loans, and little domestic builders; (v) accelerating security boarding and evaluation processes through standardized data and digital documentation; and (vi) refocusing the FHLBs' Cost Effective Real estate Program on faster-cycle execution and higher monetary leverage for small-scale and owner-occupied real estate tasks.

(c) Within 120 days of the date of this order, the Director of the FHFA, in assessment with the heads of other pertinent 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 nationwide real estate financing markets.

Comparing Assistance vs Short Sale Prevention

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 consider, as proper and constant with relevant law, modifying supervisory assistance both to leave out one-to four-family property development and building and construction loaning from business genuine estate concentration assistance and to ensure supervisory expectations support responsible construction 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 shall consider, as suitable and constant with applicable law and their statutory authorities: (i) improving appraisal regulations and guidance to broaden the usage of alternative appraisal models, desktop and hybrid appraisals, and artificial intelligence valuation tools; (ii) simplifying appraiser qualification requirements; and (iii) lowering appraisal requirements for low-risk transactions, including low loan-to-value refinancing and smallbalance loans; and setting clear appraisal timelines.

Digital Mortgage Modernization. (a) The Secretary of Farming, the Secretary of HUD, the Secretary of VA, and the Director of the FHFA shall think about, as proper and constant with appropriate law: (i) removing unneeded wetsignature requirements for disclosures, applications, closing documents, and similar files; (ii) standardizing acceptance of electronic signatures, e-notes, and remote online notarization; and (iii) promoting digital mortgage standards.

8. Servicing 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 shall consider, as appropriate and constant with relevant law: (i) aligning supervisory expectations to support portfolio home loan servicing as a core neighborhood banking function; extending curefirst standards to goodfaith servicing mistakes; streamlining loss mitigation requirements; and releasing a proposed guideline providing exemptions from complicated mortgage services for smaller banks; and (ii) guaranteeing that supervisory assessments of performing, wisely underwritten portfolio loans do not concentrate on technical problems or depend on evolving 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 think about, as proper and constant with applicable law, promulgating a policy against enforcement actions for violations of consumer financial laws that: (i) dissuades imposing civil monetary penalties, other than where the underlying offenses are willful, understanding, or reckless; (ii) considers excellent business conduct, including a bank's correction of good-faith, technical compliance errors; and (iii) permits organizations a sensible chance for self-identification and removal of suitable compliance matters.