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Analyze HR8480 - American Homeowner Crypto Modernization Act of 2024 | DoTheySupportIt

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Analyze HR8480 - American Homeowner Crypto Modernization Act of 2024

HR8480

American Homeowner Crypto Modernization Act of 2024

The "American Homeowner Crypto Modernization Act of 2024" (H.R. 8480) mandates that federal agencies update mortgage underwriting programs. This update requires participating mortgage lenders to consider U.S. dollar amounts held in brokerage accounts associated with cryptocurrency exchanges when evaluating a borrower's credit. The legislation applies to agencies such as HUD, the Department of Agriculture, the Department of Veterans Affairs, and the Federal Housing Finance Agency.

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