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Sec. 3. Modernization of Home Home Mortgage Disclosure Act (HMDA) Data Collection and Disclosure. (a) The CFPB shall consider, as appropriate and consistent with appropriate law, proposing modifications to Guideline C to raise the possession limit for exemption from HMDA data collection and reporting requirements for smaller banks, to exclude inquiries from the scope of HMDA, and to guarantee that disclosures protect privacy and decrease concerns, consisting of insufficiently tailored, costly, and complex software application and training needed for reporting monetary organizations.

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4. Capital and Liquidity Positioning. (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) shall think about, as suitable and consistent with suitable law: (i) modifying capital guidelines, 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 lines of credit to the material credit risk of the direct exposure; (ii) improving security evaluation and transfer systems in between the Federal Reserve and Federal Home Loan Banks (FHLBs); (iii) expanding access to longerdated FHLB advances tied to residential home mortgage properties; (iv) producing targeted FHLB liquidity programs for entrylevel housing, owneroccupied purchase loans, and little domestic builders; (v) speeding up collateral boarding and assessment procedures through standardized information and digital paperwork; and (vi) refocusing the FHLBs' Inexpensive Housing Program on faster-cycle execution and higher monetary take advantage of for small 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 relevant executive departments and agencies, will send a report to the Assistant to the President for Economic Policy and the Director of the Office of Management and Budget on the efficiency of national real estate finance markets.

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Building And 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 appropriate and consistent with applicable law, revising supervisory guidance both to omit one-to four-family residential advancement and construction loaning from business genuine estate concentration guidance and to guarantee supervisory expectations support accountable building financing 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 consider, as proper and constant with suitable law and their statutory authorities: (i) improving appraisal policies and assistance to expand making use of alternative appraisal designs, desktop and hybrid appraisals, and expert system appraisal tools; (ii) simplifying appraiser qualification requirements; and (iii) minimizing appraisal requirements for low-risk deals, consisting of low loan-to-value refinancing and smallbalance loans; and setting clear appraisal timelines.

Sec. 7. Digital Home Mortgage Modernization. (a) The Secretary of Farming, the Secretary of HUD, the Secretary of VA, and the Director of the FHFA will think about, as proper and constant with appropriate law: (i) getting rid of unneeded wetsignature requirements for disclosures, applications, closing files, and similar documents; (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 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 think about, as suitable and consistent with suitable law: (i) lining up supervisory expectations to support portfolio home mortgage servicing as a core community banking function; extending curefirst standards to goodfaith maintenance errors; simplifying loss mitigation requirements; and releasing a proposed rule offering exemptions from complicated home loan services for smaller banks; and (ii) making sure that supervisory evaluations of performing, prudently underwritten portfolio loans do not focus 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 shall think about, as suitable and constant with appropriate law, promulgating a policy versus enforcement actions for offenses of consumer monetary laws that: (i) discourages imposing civil financial penalties, other than where the underlying violations are willful, knowing, or negligent; (ii) considers great corporate conduct, consisting of a bank's correction of good-faith, technical compliance errors; and (iii) permits organizations an affordable opportunity for self-identification and remediation of appropriate compliance matters.