U.S. mortgage lender NewRez is expanding its loan approval process to cover cryptocurrency holders, Cointelegraph reported on Thursday. The policy takes effect in February and will include investors holding bitcoin, ether, cryptocurrency ETFs and dollar-pegged stablecoins in loan screening.
Previously, only stock and bond holders were eligible for screening, but cryptocurrency holders can now apply for mortgages for home purchases, refinancing and investment-property loans. Crypto assets must be held at U.S. regulator-approved exchanges or at fintech platforms, brokerages or banks, and will be reflected to account for market volatility.
Leslie Gillin, NewRez's chief commercial officer, said 45 percent of Generation Z and millennial investors hold cryptocurrencies. She said the policy will support home purchases by younger generations.
The U.S. Federal Housing Finance Agency is reviewing a plan for 2025 to include cryptocurrencies in mortgage risk assessment. Senator Cynthia Lummis of Wyoming proposed the 21st Century Mortgage Act to put it into law.
Chi-gyu Hwang
delight@d-today.co.kr