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Sec. 3. Modernization of Home Home Loan Disclosure Act (HMDA) Data Collection and Disclosure. (a) The CFPB will consider, as proper and consistent with applicable law, proposing modifications to Regulation C to raise the possession limit for exemption from HMDA information collection and reporting requirements for smaller sized banks, to leave out inquiries from the scope of HMDA, and to ensure that disclosures protect personal privacy and lower burdens, including insufficiently customized, costly, and complex software and training required for reporting banks.

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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 Finance Firm (FHFA) shall consider, as appropriate and constant with applicable law: (i) modifying capital regulations, constant with suitable risk-management requirements, to tailor danger weights for all banks, including community banks and other smaller sized banks, for portfolio mortgages, maintenance rights, and storage facility credit lines to the product credit risk of the direct exposure; (ii) modernizing security valuation and transfer systems in between the Federal Reserve and Federal Home Loan Banks (FHLBs); (iii) broadening access to longerdated FHLB advances tied to property home loan properties; (iv) producing targeted FHLB liquidity programs for entrylevel real estate, owneroccupied purchase loans, and small property builders; (v) accelerating security boarding and assessment processes through standardized data and digital paperwork; and (vi) refocusing the FHLBs' Budget-friendly Real estate Program on faster-cycle execution and higher financial leverage 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 relevant executive departments and companies, will submit 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 nationwide real estate financing markets.

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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 think about, as proper and consistent with suitable law, modifying supervisory assistance both to leave out one-to four-family residential advancement and building loaning from business genuine estate concentration assistance and to guarantee supervisory expectations support responsible building and construction financing by community banks.

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6. Appraisal Modernization. (a) The Vice Chairman for Supervision 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 proper and consistent with relevant law and their statutory authorities: (i) improving appraisal regulations and guidance to expand using alternative valuation designs, desktop and hybrid appraisals, and expert system assessment tools; (ii) simplifying appraiser qualification 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 Loan Modernization. (a) The Secretary of Agriculture, the Secretary of HUD, the Secretary of VA, and the Director of the FHFA will consider, as proper and consistent with suitable law: (i) getting rid of unneeded wetsignature requirements for disclosures, applications, closing documents, and comparable documents; (ii) standardizing acceptance of electronic signatures, e-notes, and remote online notarization; and (iii) promoting digital home mortgage requirements.

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 will think about, as suitable and constant with applicable law: (i) aligning supervisory expectations to support portfolio home mortgage servicing as a core community banking function; extending curefirst standards to goodfaith servicing mistakes; streamlining loss mitigation requirements; and providing a proposed rule providing exemptions from complicated 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 defects or count 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 consistent with suitable law, promulgating a policy versus enforcement actions for offenses of customer monetary laws that: (i) prevents imposing civil monetary charges, other than where the underlying offenses are willful, understanding, or reckless; (ii) considers good business conduct, consisting of a bank's correction of good-faith, technical compliance errors; and (iii) allows institutions a reasonable chance for self-identification and removal of appropriate compliance matters.