FHFA's Pulte Orders Fannie, Freddie to Consider Crypto as Mortgage Asset

By Katherine HamiltonFederal Housing Finance Agency Director William Pulte told Fannie Mae and Freddie Mac to prepare their businesses for counting cryptocurrency as an asset on mortgage applications.Pulte said in a social media post Wednesday the move was "in keeping with President Trump's vision to make the United States the crypto capital of the world." In his order, he said crypto is an emerging asset class that may offer an opportunity to build wealth outside of the stock and bond markets.The two companies, which buy and sell mortgages, will have to prepare a proposal showing how they would review crypto as an asset without it being converted into U.S. dollars. They must also consider additional risk mitigants, including adjustments for market volatility.Write to Katherine Hamilton at [email protected]