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Sec. 3. Modernization of Home Home Loan Disclosure Act (HMDA) Data Collection and Disclosure. (a) The CFPB will think about, as appropriate and consistent with applicable law, proposing amendments to Guideline C to raise the asset threshold for exemption from HMDA information collection and reporting requirements for smaller sized banks, to leave out questions from the scope of HMDA, and to ensure that disclosures secure personal privacy and minimize burdens, including insufficiently tailored, pricey, and complex software application and training required for reporting banks.

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4. Capital and Liquidity Positioning. (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 consider, as suitable and consistent with relevant law: (i) modifying capital policies, consistent with appropriate risk-management requirements, to tailor risk weights for all banks, including community banks and other smaller sized banks, for portfolio mortgages, maintenance rights, and warehouse lines of credit to the material credit threat of the exposure; (ii) updating collateral appraisal and transfer systems between the Federal Reserve and Federal Mortgage Banks (FHLBs); (iii) expanding access to longerdated FHLB advances tied to domestic mortgage assets; (iv) creating targeted FHLB liquidity programs for entrylevel housing, owneroccupied purchase loans, and little residential builders; (v) speeding up collateral boarding and appraisal procedures through standardized information and digital documentation; and (vi) refocusing the FHLBs' Cost Effective Real estate Program on faster-cycle execution and greater monetary take advantage of 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 consultation with the heads of other relevant executive departments and agencies, 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 national real estate financing markets.

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Building And 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 think about, as appropriate and constant with relevant law, revising supervisory assistance both to leave out one-to four-family property advancement and building and construction lending from industrial genuine estate concentration guidance and to make sure supervisory expectations support responsible building and construction 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 will think about, as appropriate and consistent with appropriate law and their statutory authorities: (i) updating appraisal policies and guidance to broaden using alternative evaluation models, desktop and hybrid appraisals, and artificial intelligence appraisal tools; (ii) simplifying appraiser certification requirements; and (iii) lowering appraisal requirements for low-risk deals, including low loan-to-value refinancing and smallbalance loans; and setting clear appraisal timelines.

Digital Home Loan Modernization. (a) The Secretary of Farming, the Secretary of HUD, the Secretary of VA, and the Director of the FHFA shall consider, as proper and consistent with relevant law: (i) removing unneeded wetsignature requirements for disclosures, applications, closing files, and comparable files; (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 consider, as proper and consistent with suitable law: (i) aligning supervisory expectations to support portfolio home loan maintenance as a core neighborhood banking function; extending curefirst standards to goodfaith maintenance mistakes; streamlining loss mitigation requirements; and releasing a proposed rule providing exemptions from intricate home mortgage services for smaller banks; and (ii) guaranteeing that supervisory examinations of performing, prudently underwritten portfolio loans do not focus on technical defects 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 appropriate and constant with suitable law, promulgating a policy versus enforcement actions for infractions of customer financial laws that: (i) prevents enforcing civil monetary penalties, except where the underlying infractions are willful, understanding, or negligent; (ii) considers good corporate conduct, including a bank's correction of good-faith, technical compliance errors; and (iii) enables organizations a reasonable opportunity for self-identification and remediation of proper compliance matters.