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 laws' are to be considered by the agencies in their proposal, Pulte wrote in a written order, effective immediately.
Pulte was sworn in as the head of FHFA in March. Public records show that as of January 2025, Pulte's spouse owned between $500,000 and $1 million of bitcoin and a similar amount of Solana's SOL token.
Banks seeking to make mortgages that qualify for purchase by Fannie and Freddie have not typically considered a borrower's crypto holdings until they were sold, or converted, to dollars.
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. It also recognizes that cryptocurrencies have grown in popularity as an alternative to traditional investments, such as bonds and stocks.
The agencies have to come up with their proposals 'as soon as reasonably practical,' according to the order.
Fannie and Freddie, which have been under government control since the Great Recession, buy mortgages that meet their risk criteria from banks, which helps provide liquidity for the housing market. The two firms guarantee roughly half of the $12 trillion U.S. home loan market and are a bedrock of the U.S. economy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
22 minutes ago
- Reuters
Jefferson Capital, existing shareholders raise $150 million in US IPO
June 25 (Reuters) - Private equity-backed Jefferson Capital and its existing investors raised $150 million in its Nasdaq initial public offering after pricing its shares at the lower end of its projected range, the firm said in a statement on Wednesday.
Reuters
an hour ago
- Reuters
Bezos spoke to Trump as he tries to seeks more government contracts for Blue Origin, WSJ reports
June 25 (Reuters) - Blue Origin founder Jeff Bezos spoke to U.S. President Donald Trump at least twice this month as he tries to capitalize on a feud between rival SpaceX founder Musk and Trump and bag more government contracts, the Wall Street Journal reported on Wednesday. The CEO of Blue Origin, Dave Limp, also made a trip to the White House to meet with Trump's chief of staff, the WSJ said, citing people familiar with the matter. Reuters could not immediately verify the report.
Daily Mail
an hour ago
- Daily Mail
I told my boss I'd reply to his email once the weekend was over. What followed was a text blow-up I NEVER saw coming...
A heated exchange between a boss and his employee over weekend work expectations has ignited a firestorm online, with many condemning the manager's outdated views on work-life balance. The controversy began when the boss sent a message to his employee: 'Hey, did you see my email?' The employee responded, 'Hi, I noticed the email notification, but it's the weekend. I'll get to it first thing Monday morning.' Unimpressed, the boss replied, 'I wouldn't send an email at the weekend that wasn't important. I do expect a quick response to things like this, regardless of the day.' The employee, seeking to maintain personal boundaries, explained, 'Oh ok, sorry. It's been a long week, and I could really do with keeping my weekend separate if that's ok. I am out at the moment, is there any way I can look at it on Monday?' The boss's response was scathing: 'Honestly, I am so bored of hearing lines like this from your generation. Like seriously? What happened to just putting in a bit of effort and taking their career seriously? 'It's just take, take, take with you lot. I am fed up. Men used to work every hour of the day, seven days a week. I need a response today on that email.' The employee, attempting to de-escalate, replied, 'It's not about taking, I am just exhausted from the week. I am out at the moment, but I will try and look at it later on this evening if I have a chance.' The boss concluded, 'This is beyond disappointing. We are talking about one small email response, it isn't like I am asking for the world. We'll talk on Monday.' Workplace expert Ben Askins shared the exchange on TikTok, criticising the boss' approach. He questioned, 'Are you paying them for seven days of work? Because you actually get to control the time that you're paying them. 'And the time that they're not being paid, that's actually nothing to do with you.' Askins highlighted the unrealistic expectations some employers have. 'This misunderstanding of 'I pay you for five days a week, therefore I should get seven days of 24 hours of your time' is such a weird concept people have that we have got to cut out.' He also pointed out the potential consequences of such management styles, noting, 'The reason he's so burnt out is because he's not enjoying his job and he's not having a very good work environment.' Addressing the broader issue, Askins emphasised, 'The reason is you have to work for 30, 40, 50 years of your life, right? 'So if you burn yourself out in three to four years and cause yourself to completely fall apart, you're not going to make it. It's a marathon, not a sprint.' The exchange has sparked widespread discussion about generational differences in work culture and the importance of respecting employees' personal time. Askins concluded, 'The amount of red flags in this one tiny message is mind-blowing. The generation the boss is from had it the easiest out of everyone.' Hundreds weighed in on the discussion. 'But realistically older generations didn't have email or mobiles, so couldn't be harassed in this way. It's not a decent comparison,' one said. 'The initial text should have been ignored until Monday morning too,' another added. A worker shared, 'My boss messages me out of hours all the time. I leave him on unread until 10am on a Monday. My level of pettiness grows weekly with every message he sends from Friday night onwards.' On the other side of the argument, a woman said: 'Am I the only one that would just read the email and reply? It might of been something so minor or a basic answer that makes everything easier or closes a sale or solves a huge problem. Give and take.' The incident serves as a reminder of the evolving expectations in the modern workplace and the need for employers to adapt to foster a healthy work environment.
