Bill · S. 2471· Senate(119-S-2471)
21st Century Mortgage Act of 2025
- Introduced
- 7/28/2025
- Last activity
- 7/28/2025 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- Cynthia Lummis
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
The "21st Century Mortgage Act of 2025" directs government-sponsored enterprises to include digital assets in mortgage loan risk assessments. It amends the charters for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. Under this bill, digital assets held in a qualified custodial arrangement can be counted toward a borrower's reserves. The bill defines digital assets as digital representations of value on a cryptographically-secured distributed ledger, excluding non-fungible items like digital collectibles. To manage risk, the corporations must apply adjustments for market volatility, liquidity, and asset concentration. These methodologies must be approved by the corporation's board and reviewed by the Director of the Federal Housing Finance Agency.
Yes· 3 of 6
Does this make housing cost less?+4
By allowing digital assets to count toward mortgage reserves without conversion, the bill potentially eases the process of qualifying for home loans.
Would middle-income households be better off under this?+3
The bill allows for the inclusion of digital assets in mortgage reserve calculations, providing more options for wealth utilization.
Would high-income households be better off under this?+3
The bill enables the use of digital assets as part of mortgage reserves without requiring conversion to US dollars.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
- Inclusion of Digital Assets in Reserves: The bill allows a borrower's digital assets to be included in their mortgage reserves without needing to convert them into United States dollars (Section 2(a)(B) and Section 2(b)(2)). This could benefit individuals who hold value in digital assets when applying for a single-family mortgage loan.
Potential Negative Impacts for People
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Risk-Based Adjustments: The corporations are required to apply adjustments for market volatility, liquidity, and the concentration of digital assets (Section 2(a)(C) and Section 2(b)(3)). These adjustments could impact how much of a borrower's digital holdings are actually recognized toward their reserves.
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Asset Exclusions: Certain types of assets are explicitly excluded from being considered digital assets under this act, such as digital collectibles or assets that are not commercially fungible (Section 2(a)(A)(i) and Section 2(b)(1)(A)). This means certain digital holdings would not provide the same reserve benefits as other digital assets.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For High Income Households+3Good For Middle Class Households+3Good For Low Income Households+1Good For Urban Residents+1
- Social Issues And Justice
- Improves Affordable Housing+4
- Governance And Ideology
- Improves Government Transparency+2
- 7/28/2025
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Introduced in Senate