Senator Cynthia Loomis, Republican of Wyoming, introduced the 21st Century Mortgage Act on July 29, which would require Fannie Mae and Freddie Mac to take digital assets recorded on the distributed ledger into account when assessing eligibility for single-family home mortgages, and would not mandate the conversion of those digital assets into dollars.
The data shows that in Quarter 1 of 2025, the homeownership rate among Americans under the age of 35 fell to 36.6%, the lowest since records began in 1982. Meanwhile, the State of Cryptocurrency Holders report shows that 21% of U.S. adults currently own cryptocurrencies, with 67% of those owners under the age of 45.
The bill aims to improve access to home loans for younger generations by recognizing digital assets as a measure of wealth. The move is a legal confirmation of the Federal Housing Finance Agency's previous directive to "consider cryptocurrencies as assets in single-family home loans delivered by Fannie Mae and Freddie Mac."
US senators propose new bill to include digital assets in mortgage appraisal criteria
2025-07-29 23:59:20
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