In June, Federal Housing Finance Agency (FHFA) Director William J. Pulte ordered Fannie Mae and Freddie Mac to consider cryptocurrency assets as collateral for single home mortgage loans. Republican Senator Lummis has now proposed legislation to codify this directive, while Democratic senators raise concerns about market stability and conflicts of interest.
Senator Lummis introduced the 21st Century Mortgage Act of 2025 to reinforce Pulte’s directive. The key provision states:
“The Corporation shall, in assessing the risk of a single-family mortgage loan, permit the holdings of a borrower in a digital asset, evidenced and maintained pursuant to a qualified custodial arrangement, to be included in the reserves of a borrower without conversion of the digital asset to United States dollars.”
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