U.S. Senator Cynthia Lummis (R-WY) has introduced the 21st Century Mortgage Act, a bill aimed at modernizing the mortgage lending process by requiring government-sponsored enterprises to factor digital assets into eligibility assessments for single-family mortgages.
The proposed legislation would require both Fannie Mae and Freddie Mac to include digital assets recorded on secure distributed ledgers in their risk assessments for home loans. The bill also stipulates that applicants should not be forced to convert these digital assets into U.S. dollars during the evaluation process.
According to Senator Lummis, “The American dream of homeownership is not a reality for many young people. This legislation embraces an innovative path to wealth-building keeping in mind the growing number of young Americans who possess digital assets. We’re living in a digital age, and rather than punishing innovation, government agencies must evolve to meet the needs of a modern, forward-thinking generation.”
The move follows guidance from U.S. Federal Housing Finance Agency Director William Pulte, who previously issued a directive calling for cryptocurrency to be considered as an asset when processing single-family loans through Fannie Mae and Freddie Mac.
Recent data from the U.S. Census Bureau shows that homeownership rates among Americans under 35 have fallen to 36.6% in early 2025, marking one of the lowest points since tracking began in 1982. At the same time, younger generations are increasingly turning to digital assets as part of their financial strategy; according to the 2025 State of the Crypto Holders Report, 21% of U.S. adults now own cryptocurrency and most crypto owners are under age 45.
For more information about the bill text, visit: here.
