Fannie Mae, Freddie Mac ordered to consider crypto as an asset when buying mortgages
The head of the federal government agency that oversees Fannie Mae and Freddie Mac wants the mortgage giants to consider accepting a homebuyer’s cryptocurrency holdings in their criteria for buying mortgages from banks.
William Pulte, director of the Federal Housing Finance Agency, which oversees Fannie and Freddie, ordered the agencies Wednesday to prepare a proposal for consideration of crypto as an asset for reserves when they assess risks in single-family home loans.
Pulte also instructed the agencies that their mortgage risk assessments should not require cryptocurrency assets to be converted to U.S. dollars. And only crypto assets that “can be evidenced and stored on a U.S.-regulated centralized exchange subject to all applicable…
