Currently, if you own bitcoin, ethereum or other digital assets, Fannie and Freddie's guidelines require you to convert them into U.S. dollars before they can be used to qualify for a home loan. The updated policy will allow borrowers to use unconverted crypto to meet mortgage reserve requirements. (You'd still need to convert crypto assets used for a down payment.) However, the directive states that only crypto assets that can be evidenced and stored on a U.S.-regulated centralized exchange, subject to all applicable laws, can be considered.
How important is this change, and how will it impact the mortgage market? I asked a panel of experts for their input, which was published recently by US News & World Report here.
How important is this change, and how will it impact the mortgage market? I asked a panel of experts for their input, which was published recently by US News & World Report here.