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FHFA Directs Fannie Mae and Freddie Mac to Explore Including Cryptocurrency in Mortgage Risk Assessment Assets
Summary: According to reports, Bill Pulte, director of the Federal Housing Finance Agency (FHFA), has instructed Fannie Mae and Freddie Mac to develop a plan to include cryptocurrency in the category of mortgage risk assessment assets. The directive requires the two institutions to study how to allow borrowers to count cryptocurrency held in US-regulated centralized exchanges ...
According to reports, Bill Pulte, director of the Federal Housing Finance Agency (FHFA), has instructed Fannie Mae and Freddie Mac to develop a plan to include cryptocurrency in the category of mortgage risk assessment assets. The directive requires the two institutions to study how to allow borrowers to count cryptocurrency held in US-regulated centralized exchanges as assets without liquidating them in advance. Currently, this policy is in the early stages and any related plans must be approved by the boards of both institutions and the FHFA before implementation. If implemented, this move will change the traditional way of assessing borrowers' qualifications in the mortgage industry, but explicitly excludes cryptocurrency assets held in non-compliant exchanges.
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Link: FHFA Directs Fannie Mae and Freddie Mac to Explore Including Cryptocurrency in Mortgage Risk Assessment Assets [Copy]
