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The Federal Housing Finance Agency (FHFA) is calling on Fannie Mae and Freddie Mac to consider cryptocurrency as an asset on mortgage applications, in a move director William J. Pulte described as in line with the Trump administration’s agenda.
“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,” Pulte wrote on X, sharing the directive issued by the agency on Wednesday.
In the document, the FHFA called on the two housing giants to prepare a proposal for considering cryptocurrency as an asset for reserves in their respective single-family mortgage loan risk assessments, without conversion to U.S. dollars. Only crypto assets that can be evidenced and stored on a U.S.-regulated centralized exchange subject to all applicable laws should be taken into consideration, it said.
Use of crypto for home buying has been limited. Only 1 percent of those who made a down payment said they used crypto cash, a National Association of Realtors survey of people who bought a home between July 2023 and June 2024 found.
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This is a breaking news story and will be later updated with more information.