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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 appropriate and constant with applicable law, proposing changes to Policy C to raise the possession threshold for exemption from HMDA information collection and reporting requirements for smaller sized banks, to leave out inquiries from the scope of HMDA, and to guarantee that disclosures protect personal privacy and decrease problems, including insufficiently tailored, expensive, and complex software application and training required for reporting financial organizations.

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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 Agency (FHFA) will think about, as proper and consistent with appropriate law: (i) modifying capital regulations, constant with suitable risk-management requirements, to customize danger weights for all banks, consisting of neighborhood banks and other smaller sized banks, for portfolio mortgages, servicing rights, and storage facility credit lines to the material credit risk of the exposure; (ii) updating collateral evaluation and transfer systems in between the Federal Reserve and Federal Mortgage Banks (FHLBs); (iii) broadening access to longerdated FHLB advances connected to residential mortgage possessions; (iv) producing targeted FHLB liquidity programs for entrylevel real estate, owneroccupied purchase loans, and small domestic home builders; (v) speeding up collateral boarding and appraisal procedures through standardized data and digital paperwork; and (vi) refocusing the FHLBs' Budget-friendly Real estate Program on faster-cycle execution and higher monetary take advantage of for small-scale and owner-occupied housing jobs.

(c) Within 120 days of the date of this order, the Director of the FHFA, in consultation with the heads of other appropriate executive departments and firms, will submit a report to the Assistant to the President for Economic Policy and the Director of the Workplace of Management and Budget on the performance of nationwide housing financing markets.

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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 think about, as proper and consistent with appropriate law, modifying supervisory guidance both to exclude one-to four-family domestic advancement and building financing from industrial real estate concentration assistance and to make sure supervisory expectations support responsible 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 consider, as proper and constant with appropriate law and their statutory authorities: (i) improving appraisal guidelines and guidance to broaden using alternative evaluation designs, desktop and hybrid appraisals, and artificial intelligence evaluation tools; (ii) simplifying appraiser certification requirements; and (iii) lowering appraisal requirements for low-risk transactions, including 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 consistent with suitable law: (i) eliminating unneeded wetsignature requirements for disclosures, applications, closing documents, and similar documents; (ii) standardizing approval of electronic signatures, e-notes, and remote online notarization; and (iii) promoting digital home mortgage standards.

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 think about, as suitable and consistent with applicable law: (i) lining up supervisory expectations to support portfolio home mortgage servicing as a core community banking function; extending curefirst standards to goodfaith servicing errors; streamlining loss mitigation requirements; and providing a proposed rule supplying exemptions from complex home loan services for smaller banks; and (ii) making sure that supervisory evaluations of performing, wisely underwritten portfolio loans do not concentrate on technical flaws or count on progressing supervisory interpretations.

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 suitable and constant with appropriate law, promoting a policy against enforcement actions for offenses of consumer financial laws that: (i) discourages imposing civil monetary charges, except where the underlying infractions are willful, knowing, or reckless; (ii) considers great corporate conduct, consisting of a bank's correction of good-faith, technical compliance mistakes; and (iii) allows institutions an affordable chance for self-identification and remediation of appropriate compliance matters.