21st Century Mortgage Act of 2025

The 21st Century Mortgage Act of 2025 would require the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac to explicitly include digital asset holdings (such as certain cryptocurrencies) in their mortgage risk assessments. If borrowers hold digital assets under qualified custodial arrangements, those assets could be counted as part of a borrower’s reserves without needing to convert them to dollars. The bill also imposes risk-management requirements—accounting for market volatility, liquidity, and concentration of digital assets—and adds a governance step requiring board approval and FHFA review before any new or revised methodology is implemented. The provisions apply to both Fannie Mae and Freddie Mac and would be designed to formalize how digital assets are treated in single-family mortgage underwriting. In short, the bill would normalize and regulate the use of digital asset holdings in mortgage underwriting by the two main U.S. government-sponsored enterprises, expanding the types of assets that can be counted toward reserves while introducing specific risk controls and oversight.