Fannie Mae, Freddie Mac Ordered To Consider Crypto Holdings For Mortgage Applications
The US Federal Housing Finance Agency (FHFA) ordered Fannie Mae and Freddie Mac to consider crypto as an asset for some mortgage loans. In a letter shared in a June 25 X post, FHFA director William J. Pulte ordered the government-backed enterprises to “prepare a proposal for consideration of cryptocurrency as an asset for reserves in their respective single-family mortgage loan risk assessments.” Crypto For Mortgages Will Not Have To Be Converted To Fiat Fannie Mae and Freddie Mac play a pivotal role in the US home loans market. They have been under government control since they were bailed out during the 2008 financial crisis, after they suffered huge losses due to exposure to mortgage-backed securities containing subprime loans. With the new order, both enterprises will have to explore how to let clients apply for a mortgage using cryptocurrency . Fannie Mae and Freddie Mac will now allow buyers to secure mortgages with crypto. Just bought my first house everyone ...