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Sec. 3. Modernization of Home Home Mortgage Disclosure Act (HMDA) Data Collection and Disclosure. (a) The CFPB will consider, as appropriate and consistent with suitable law, proposing modifications to Guideline C to raise the possession threshold for exemption from HMDA information collection and reporting requirements for smaller sized banks, to exclude inquiries from the scope of HMDA, and to make sure that disclosures protect privacy and minimize problems, consisting of insufficiently tailored, pricey, and complex software application and training required for reporting banks.

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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 Housing Finance Firm (FHFA) will think about, as appropriate and constant with relevant law: (i) modifying capital guidelines, constant with proper risk-management requirements, to customize risk weights for all banks, consisting of community banks and other smaller banks, for portfolio mortgages, servicing rights, and warehouse credit lines to the product credit danger of the direct exposure; (ii) updating security evaluation and transfer systems in between the Federal Reserve and Federal Mortgage Banks (FHLBs); (iii) expanding access to longerdated FHLB advances connected to domestic mortgage possessions; (iv) producing targeted FHLB liquidity programs for entrylevel real estate, owneroccupied purchase loans, and little domestic builders; (v) speeding up security boarding and valuation processes through standardized information and digital documents; and (vi) refocusing the FHLBs' Budget Friendly Housing Program on faster-cycle execution and greater financial leverage 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 relevant executive departments and firms, shall send a report to the Assistant to the President for Economic Policy and the Director of the Workplace of Management and Budget plan on the effectiveness of national real estate 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 consider, as suitable and consistent with relevant law, modifying supervisory assistance both to leave out one-to four-family residential development and building and construction financing from commercial genuine estate concentration guidance and to guarantee supervisory expectations support responsible building loaning by neighborhood 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 think about, as proper and constant with suitable law and their statutory authorities: (i) updating appraisal policies and assistance to broaden the usage of alternative evaluation designs, desktop and hybrid appraisals, and synthetic intelligence valuation tools; (ii) streamlining appraiser certification requirements; and (iii) decreasing appraisal requirements for low-risk transactions, including low loan-to-value refinancing and smallbalance loans; and setting clear appraisal timelines.

Sec. 7. Digital Home Loan Modernization. (a) The Secretary of Farming, the Secretary of HUD, the Secretary of VA, and the Director of the FHFA shall think about, as appropriate and constant with suitable law: (i) getting rid of unneeded wetsignature requirements for disclosures, applications, closing files, and similar documents; (ii) standardizing approval of electronic signatures, e-notes, and remote online notarization; and (iii) promoting digital home loan requirements.

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 shall think about, as suitable and constant with applicable law: (i) aligning supervisory expectations to support portfolio home loan servicing as a core neighborhood banking function; extending curefirst requirements to goodfaith maintenance errors; streamlining loss mitigation requirements; and providing a proposed rule offering exemptions from complex home loan services for smaller banks; and (ii) ensuring that supervisory evaluations of carrying out, wisely underwritten portfolio loans do not focus on technical flaws or depend on progressing supervisory interpretations.

9. Enforcement. (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 suitable and consistent with suitable law, promoting a policy against enforcement actions for violations of customer financial laws that: (i) dissuades imposing civil monetary charges, other than where the underlying offenses are willful, understanding, or reckless; (ii) thinks about good business conduct, consisting of a bank's correction of good-faith, technical compliance mistakes; and (iii) allows institutions a reasonable opportunity for self-identification and removal of proper compliance matters.