FHFA Introduces Cryptocurrency into Mortgage Risk Assessment: A Major Step in the US Financial Sector
On June 26, according to Bloomberg, Bill Pulte – Director of the Federal Housing Finance Agency (FHFA) – directed Fannie Mae and Freddie Mac to develop a new plan to incorporate cryptocurrency into mortgage risk assessment assets. This is a breakthrough signal for the traditional mortgage lending industry when expanding the range of acceptable assets.
Fannie Mae and Freddie Mac: Importance in the Mortgage Market
Fannie Mae, an agency specializing in mortgage-backed securities sponsored by the US government, plays a role in promoting market liquidation for home loans. Freddie Mac, also known as the Federal Mortgage Lending Company, is the second-largest entity in this field, ranking just behind Fannie Mae in business scale. These two organizations dominate most of the mortgage lending process in the United States.
Integrating Cryptocurrency in Mortgage Asset Assessment
According to the new directive, Fannie Mae and Freddie Mac will study mechanisms allowing borrowers to use cryptocurrencies stored on centralized exchanges managed by US agencies as a legitimate asset. This means borrowers won't need to convert cryptocurrencies to cash to prove assets, helping to optimize the financial assessment of borrowers.
The policy is still in a preliminary stage and needs approval from the boards of both agencies and the FHFA before widespread implementation. This reflects caution while simultaneously opening opportunities for deeper integration between the cryptocurrency and traditional financial markets.
Impact on Mortgage and Cryptocurrency Sectors
If implemented, this will be a turning point completely changing how borrowers' capabilities and risks are assessed in the mortgage industry. Approving cryptocurrency could help digital asset users access home loans more easily and flexibly.
However, only cryptocurrencies stored on compliant exchanges will be counted as asset value, while those mined or stored "off-stream" will be excluded. This is an important point aimed at minimizing legal risks and protecting the financial system.
This step marks the gradual standardization of cryptocurrency in the world's most important financial ecosystem. The combination of centralized, regulated storage protocols and traditional credit processes promises to open a new era. In the future, cryptocurrency investors and users can fully expect improved convenience and capital access.
