Why a $778 Billion Mortgage Lender Is Taking Bitcoin and Ethereum Seriously Now
Newrez, a major U.S. wholesale mortgage lender, will begin counting Bitcoin and Ethereum holdings as eligible assets when evaluating mortgage applicants. Aimed especially at younger, first-time buyers who increasingly hold crypto, this move lets digital assets be treated similarly to cash and stocks in mortgage applications, though at a discounted value (“haircut”) due to volatility. Only assets held with U.S.-regulated exchanges, brokerages, fintechs, or nationally chartered banks qualify—crypto in self-custody wallets does not. Mortgage payments can’t yet be made in crypto, but Newrez may consider this in the future. The program starts in February for “non-agency” loans, those not backed by Fannie Mae or Freddie Mac, and also includes cash-backed stablecoins. The new policy has drawn both regulatory interest and political concern over potential risks to financial stability and consumer protection.
