Federal Housing Finance Agency (FHFA) Director Bill Pulte has opened the door to enable the use of cryptocurrency in the mortgage market.
Posting on his X account, Pulte announced, “After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage.”
In his directive to the government-sponsored enterprises, Pulte identified cryptocurrency as “an emerging asset class that may offer an opportunity to build wealth outside of the stock and bond markets.” He called on Fannie Mae (OTCQB: FNMA) and Freddie Mac (OTCBQ: FMCC) to “consider only cryptocurrency assets that can be evidenced and stored on a US-regulated centralized exchange subject to all applicable laws.” He also called for a review of the “risk mitigants” involved in this endeavor.
No deadline was set, but Pulte asked that the directive “should be implemented as soon as reasonably practical.”
Pulte added in a separate X post: “Today is a historic day in the cryptocurrency industry and the mortgage industry, whereby Fannie Mae and Freddie Mac are now positioned to involve Cryptocurrencies in Mortgages. Thank you President Trump for making the USA the crypto capital of the world!”
