July 14, 2025
Ms. Mace introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committee on Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned
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.
Section 1. Short title
This Act may be cited as the American Homeowner Crypto Modernization Act of 2025
.
Sec. 2. Consideration of cryptocurrency exchange brokerage account amounts
(a) In general
Not later than the expiration of the 24-month period beginning on the date of the enactment of this Act, each head of a covered agency shall, update the automated mortgage underwriting programs, guidelines, standards, and systems of such covered agency in a manner to require participating mortgage lenders to consider, in the mortgage credit evaluation process, the value of any digital assets a borrower has in any brokerage account associated with a cryptocurrency exchange.
(b) Definitions
In this section:
(1) Covered Agency
The term covered agency means—
(A)
the Department of Housing and Urban Development;
(B)
the Department of Agriculture;
(C)
the Department of Veterans Affairs; and
(D)
the Federal Housing Finance Agency, except that any requirement imposed by this section on such Agency or the Director of such Agency shall be treated as a requirement with respect to the mortgage underwriting programs or systems of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, to be imposed and enforced pursuant to the authority of such Director and Agency to supervise and regulate such enterprises.
(2) Digital asset
The term digital asset
means any digital representation of value which is recorded on a cryptographically secured distributed ledger or other similar technology.