Fannie Mae and Freddie Mac May Accept Crypto for Mortgages
.webp)
The mortgage world could soon see a major shift. William Pulte, the new director of the Federal Housing Finance Agency (FHFA), has ordered Fannie Mae and Freddie Mac to draft proposals that would allow banks to count a homebuyer’s cryptocurrency holdings as part of their mortgage risk assessments.
Currently, borrowers need to convert crypto to U.S. dollars before lenders consider those funds. But this new directive could let regulated crypto assets be counted without conversion, giving many crypto-holding buyers a better chance at qualifying.
Government Pushes for Crypto in Mortgage Criteria
This is the first time the federal government has formally recognized cryptocurrency in real estate as an asset in mortgage evaluations. The FHFA is asking…
2650 Views, 0 Comments
