On the delightful date of July 14, 2025, as if plucked from a whimsical novel, our illustrious Rep. Nancy Mace of South Carolina has introduced a charming new bill, proposing an audacious reinvention of mortgage underwriting that flirts with the idea of including crypto assets nestled in brokerage-linked accounts. Ah, what a world!
Alas, our digital darlings—cryptocurrency holdings—are currently as appreciated in the mortgage world as a wet sock. They remain largely overlooked in favor of the sturdy giants of financial metrics: bank balances and tax records, those ancient relics of our fiscal civilization. Should this bill gain traction, we might experience the rare spectacle of lenders and federal agencies begrudgingly acknowledging Bitcoin and its unruly band of crypto friends in mortgage eligibility assessments. Progress, they say, is never easy!
The bill, not yet ready for its moment on the stage, has been tenderly placed before the House Financial Services and Veterans Affairs Committees—let us hope they’re equipped with the necessary popcorn. If this merriment should pass, it would mean regulators must don their thinking caps to define new criteria for this most enlightening of platforms.
One can’t help but recall the wise musings of FHFA Director Bill Pulte, who appears to be riding the crypto wave, basking in sunlight whilst hinting at a future where digital currencies grace the illustrious realm of mortgages. Meanwhile, ARK Invest’s CEO, the ever-enlightening Cathie Wood, has laid flowers at the feet of this concept, suggesting it might rescue a bevy of young, crypto-savvy souls desperate to navigate the wild waters of home ownership. The youth shall inherit… er, the mortgage?
In yet another twist, our gallant veterans may also reap the rewards of this forward-thinking legislation, as it offers a glimmer of hope for expanded crypto recognition in VA-backed mortgage applications. However, do keep your horses in check—before this bill can ascend to the hallowed halls of law, it must first charm both chambers of Congress and win a stamp of approval from none other than President Donald Trump. Quite the adventure awaits!
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2025-07-17 18:29