There seems to be some good news for those who have invested in cryptocurrency. The head of the federal government agency that oversees Fannie Mae and Freddie Mac wants the mortgage giants to consider accepting a homebuyer’s cryptocurrency holdings in their criteria for buying mortgages from banks.
William Pulte, director of the Federal Housing Finance Agency (FHFA), which oversees Fannie and Freddie, ordered the agencies Wednesday to prepare a proposal for consideration of crypto as an asset for reserves when they assess risks in single-family home loans.
Pulte also instructed the agencies that their mortgage risk assessments should not require cryptocurrency assets to be converted to U.S. dollars.
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Pulte’s directive to consider cryptocurrency as a reserve asset in mortgage risk assessments marks a potentially transformative shift for Fannie Mae and Freddie Mac. By instructing the agencies to develop proposals that treat crypto as a viable form of capital, Pulte is signaling openness to alternative asset classes in home loan underwriting. This could expand access to mortgages for crypto holders, particularly younger or tech-savvy buyers who may have significant wealth in digital assets but lack traditional banking profiles.
Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation) are U.S. government-sponsored enterprises (GSEs) that support the housing market. They buy mortgages from lenders, providing liquidity to banks to issue more loans. These mortgages are bundled into mortgage-backed securities and sold to investors. By doing this, Fannie Mae and Freddie Mac help ensure stability, affordability, and accessibility in the housing finance system.
Both were placed under federal conservatorship in 2008 during the financial crisis due to massive losses. They remain central to the U.S. mortgage market, backing a majority of new home loans nationwide.
William J. Pulte was confirmed by the U.S. Senate on March 13, as director of the Federal Housing Finance Agency (FHFA), succeeding Sandra Thompson. Appointed by President Donald Trump, Pulte brought a background in private equity and nonprofit leadership to the role.
As head of the FHFA, he now oversees Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. His early actions signaled a shift in policy, including the elimination of diversity, equity, and inclusion (DEI) initiatives and a focus on rooting out inefficiencies. Pulte’s appointment marked a conservative turn in federal housing finance oversight and priorities.
For Fannie and Freddie, this introduces both opportunity and risk: they may tap into new borrower segments, but they must also confront the volatility and regulatory uncertainty of crypto markets. Broadly, this move reflects a deregulatory, innovation-friendly posture under Pulte’s leadership, consistent with his elimination of DEI mandates and focus on institutional efficiency.
For homeownership, it could mean a more inclusive—albeit riskier—landscape, where financial innovation lowers some barriers but may introduce new forms of instability. Lenders will need clear guidelines, and the agencies must balance innovation with caution. In 2025, this initiative highlights the evolving nature of creditworthiness and the growing influence of digital finance on housing access in the United States.
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