Newrez is set to implement a significant change in its mortgage underwriting process by treating eligible cryptocurrency holdings as qualifying assets. This initiative is designed to expand access to home loans for individuals who own digital assets.
This policy adjustment is slated to take effect in February and will apply to Newrez's non-agency mortgage products. It will cover a range of transactions, including home purchases, refinancings, and investment properties. Previously, while borrowers could leverage assets like stocks and bonds in underwriting, cryptocurrency holders were generally required to liquidate their digital assets to qualify for a mortgage.
Initially, Newrez will recognize Bitcoin (BTC), Ether (ETH), spot exchange-traded funds (ETFs) that are backed by these cryptocurrencies, and stablecoins pegged to the US dollar. The company has specified that these crypto assets must be held with US-regulated crypto exchanges, fintech platforms, brokerages, or nationally chartered banks.
Under the new policy, cryptocurrency holdings considered during the underwriting process may be subject to valuation adjustments to account for market volatility. Borrowers will still be obligated to cover closing costs and make their mortgage payments in US dollars.
Leslie Gillin, Chief Commercial Officer at Newrez, highlighted that approximately 45% of Gen Z and Millennial investors own cryptocurrency. She stated that this policy aims to enhance homeownership opportunities for younger demographics.
US Regulators Consider the Role of Cryptocurrency in Mortgage Underwriting
Newrez's decision aligns with ongoing policy discussions within the United States regarding the inclusion of digital assets in mortgage risk assessments.
In June 2025, the US Federal Housing Finance Agency (FHFA) directed Fannie Mae and Freddie Mac to develop proposals that would examine how cryptocurrencies could be considered as assets in single-family mortgage risk assessments, without requiring conversion to US dollars.
Less than two months later, Senator Cynthia Lummis of Wyoming introduced the 21st Century Mortgage Act. This legislation seeks to codify the FHFA's directive, aiming to revolutionize mortgage lending and improve homeownership accessibility for young Americans.
Senator Lummis has articulated that the bill addresses the housing affordability challenges faced by younger Americans. She noted that "the American dream of homeownership is not a reality for many young people" and that the legislation acknowledges the increasing number of young individuals who hold digital assets.
The bill has undergone two readings in the Senate and has been referred to the Committee on Banking, Housing and Urban Affairs. As of now, it has not advanced further in the legislative process.
While the scope of this development is currently limited, a market for crypto-backed home financing already exists, enabling borrowers to utilize Bitcoin or Ether as collateral for their loans.
In June, Mauricio Di Bartolomeo, co-founder of Ledn, informed Cointelegraph that some Bitcoin holders have successfully financed real estate purchases using their digital assets without needing to liquidate them.