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Modernization of Home Mortgage Disclosure Act (HMDA) Data Collection and Disclosure. (a) The CFPB shall think about, as suitable and constant with suitable law, proposing amendments to Policy C to raise the property threshold for exemption from HMDA data collection and reporting requirements for smaller banks, to leave out queries from the scope of HMDA, and to make sure that disclosures safeguard privacy and decrease concerns, consisting of insufficiently customized, expensive, and complex software and training needed for reporting financial institutions.

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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 proper and constant with suitable law: (i) modifying capital regulations, consistent with proper risk-management requirements, to customize risk weights for all banks, including community banks and other smaller sized banks, for portfolio home mortgages, servicing rights, and storage facility lines of credit to the product credit threat of the direct exposure; (ii) updating security assessment and transfer systems between the Federal Reserve and Federal Home Loan Banks (FHLBs); (iii) broadening access to longerdated FHLB advances connected to property home loan possessions; (iv) creating targeted FHLB liquidity programs for entrylevel real estate, owneroccupied purchase loans, and little domestic contractors; (v) speeding up security boarding and assessment processes through standardized information and digital documents; and (vi) refocusing the FHLBs' Economical Housing Program on faster-cycle execution and greater financial utilize for small 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 pertinent 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 plan on the effectiveness of nationwide real estate financing markets.

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Sec. 5. 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 suitable law, modifying supervisory guidance both to exclude one-to four-family residential advancement and construction lending from business property concentration assistance and to ensure supervisory expectations support responsible building and construction lending by community 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 think about, as appropriate and consistent with applicable law and their statutory authorities: (i) updating appraisal regulations and assistance to broaden the usage of alternative valuation designs, desktop and hybrid appraisals, and expert system evaluation tools; (ii) simplifying appraiser certification requirements; and (iii) minimizing 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 Farming, the Secretary of HUD, the Secretary of VA, and the Director of the FHFA shall consider, as suitable and consistent with applicable law: (i) removing unnecessary 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 mortgage standards.

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 shall 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 complicated mortgage services for smaller sized banks; and (ii) guaranteeing that supervisory evaluations of performing, prudently underwritten portfolio loans do not concentrate on technical defects or rely 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 relevant law, promulgating a policy against enforcement actions for offenses of customer financial laws that: (i) dissuades imposing civil financial penalties, except where the underlying offenses are willful, understanding, or careless; (ii) considers great corporate conduct, including a bank's correction of good-faith, technical compliance errors; and (iii) enables organizations an affordable chance for self-identification and removal of appropriate compliance matters.