""Today, an increasing number of consumers include crypto in their investment portfolios, while major financial institutions are deepening their involvement in crypto assets, supported by key regulatory developments," Newrez President Baron Silverstein said in the announcement, adding that now is the "right time" to weave crypto into the mortgage lending business."
"Noting that Gen Z and Millennial investors are more comfortable with crypto, Newrez Chief Commercial Officer Leslie Gillin described the change as opening "new pathways to homeownership" that offer home buyers increased financial flexibility."
Newrez will allow applicants to include cryptocurrency holdings in mortgage applications beginning next month. Historically, lenders excluded crypto holdings, often forcing holders to liquidate assets and face tax bills to demonstrate cash reserves. Newrez frames the change as a response to growing consumer crypto adoption and regulatory developments and sees an opportunity to integrate crypto into mortgage lending. The lender is also investing in HomeVision, an AI underwriting tool, signaling broader technological experimentation. Newrez is not a top-10 mortgage company by volume but seeks to attract tech-forward buyers amid rising crypto ownership among younger generations.
Read at Fast Company
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