Federal Housing Finance Agency (FHFA) Director William Pulte ordered Fannie Mae and Freddie Mac to prepare proposals for including cryptocurrency as an asset in mortgage risk assessments. This directive marks a significant strategic shift in housing finance policy.
Director Pulte specified that crypto assets should not be required to be converted to U.S. dollars for these assessments. This move is intended to align with President Trump's vision of making the U.S. the 'crypto capital of the world,' potentially expanding access to credit.
This regulatory directive could significantly expand the pool of eligible borrowers for Fannie Mae-backed mortgages by recognizing cryptocurrency holdings. However, it also introduces new complexities in risk assessment and underwriting for the company, requiring careful implementation.
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