The head of the Federal Housing Finance Agency, William Pulte, has directed Fannie Mae and Freddie Mac to consider cryptocurrency holdings as valid assets for mortgage qualification. This move aims to expand traditional creditworthiness assessments to include crypto, facilitating home purchasing for more buyers. Pulte emphasized that crypto assets need not be converted to U.S. dollars and must originate from regulated exchanges. This proposal reflects the growing acceptance of cryptocurrency as a legitimate financial asset and seeks to increase accessibility in the competitive housing market.
The policy is meant to encourage banks to expand how they gauge borrowers' creditworthiness, in hopes that more aspiring homebuyers can qualify for a home loan.
Pulte instructed the agencies that their mortgage risk assessments should not require cryptocurrency assets to be converted to U.S. dollars.
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