The head of the FHFA has directed Fannie Mae and Freddie Mac to consider cryptocurrency as a valid asset when evaluating mortgage applications. This change is intended to broaden criteria for assessing borrowers' creditworthiness and recognizes the growing role of cryptocurrencies in finance. The policy specifies that only crypto assets on U.S.-regulated exchanges will be considered, and these do not need to be converted to dollars. This initiative seeks to assist more potential homebuyers in securing mortgages.
The FHFA is encouraging Fannie Mae and Freddie Mac to consider cryptocurrency holdings as valid assets for mortgage qualifying, signaling a shift in credit assessment.
This policy aims to promote inclusivity in mortgage lending by allowing a broader range of financial assets to be recognized, potentially aiding more buyers.
Collection
[
|
...
]