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Mortgage Qualification: Considering Crypto Exchange Brokerage Funds for Credit.

This bill mandates federal housing agencies (including HUD, VA, and FHFA) to update their mortgage underwriting rules. Lenders will now be required to consider U.S. dollar amounts held by borrowers in brokerage accounts associated with cryptocurrency exchanges during the credit evaluation process. This change aims to potentially broaden access to federal mortgages for individuals who hold liquid assets in the crypto ecosystem.
Key points
Federal mortgage programs (FHA, VA) must update rules for credit evaluation.
Lenders must count U.S. dollar balances held in brokerage accounts linked to crypto exchanges.
The goal is to potentially improve mortgage qualification for borrowers with crypto-related savings.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_8480
Sponsor: Rep. Mace, Nancy [R-SC-1]
Process start date: 2024-05-21
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

American Homeowner Crypto Modernization Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8480.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-05-21.

What are the main provisions?

Key points include:

  • Federal mortgage programs (FHA, VA) must update rules for credit evaluation.
  • Lenders must count U.S. dollar balances held in brokerage accounts linked to crypto exchanges.
  • The goal is to potentially improve mortgage qualification for borrowers with crypto-related savings.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Mace, Nancy [R-SC-1].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Economic Opportunity.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Real Estate Economy