Sponsor
Nancy Mace
Representative · R-SC
Representative · R-SC
The bill broadens mortgage access for crypto-asset holders by allowing digital assets to count in underwriting and creating federal standards, at the cost of added financial volatility risk, compliance and privacy burdens, and potential uneven treatment across lenders and programs.
Borrowers who hold cryptocurrency can count digital assets toward mortgage qualifying, meaning more crypto-asset holders may become eligible for home loans and access to homeownership.
Federal standardization and an explicit definition of "digital asset" for major housing programs reduces legal ambiguity and lender uncertainty, which could expand lending to crypto-asset holders and harmonize underwriting across agencies.
Borrowers and lenders are exposed to high cryptocurrency price volatility being used in underwriting, which could increase mortgage default risk if asset values drop rapidly.
Lenders will need to build new verification systems and compliance processes to validate crypto holdings, raising operational costs that may be passed to borrowers or shrink lending in smaller markets.
Borrowers may have to provide exchange account data and transaction records, increasing administrative burden and creating privacy and data-sharing concerns.
Based on analysis of 2 sections of legislative text.
Requires federal housing agencies to update automated mortgage underwriting so lenders may consider borrowers' digital assets held in crypto exchange-linked brokerage accounts, with a 24-month compliance deadline.
Official title: To require agencies to update mortgage underwriting programs, guidelines, standards, and systems to require lenders to consider, in the mortgage credit evaluation process, any amounts a borrower has in any brokerage account associated with a cryptocurrency exchange.
Introduced July 14, 2025 by Nancy Mace · Last progress July 14, 2025
Requires HUD, USDA, VA, and the FHFA (including Fannie Mae and Freddie Mac under FHFA authority) to update automated mortgage underwriting programs, guidelines, standards, and systems so mortgage lenders may count the value of a borrower’s digital assets held in brokerage accounts tied to cryptocurrency exchanges when evaluating mortgage credit; agencies must comply within 24 months of enactment. Defines “digital asset” as a value recorded on a cryptographically secured distributed ledger or similar technology.