Fannie Mae and Freddie Mac embrace cryptocurrency as an asset
- The Federal Housing Finance Agency issued a directive allowing cryptocurrency to be counted as a mortgage asset.
- Homebuyers can now strengthen their mortgage application using digital assets without converting to dollars.
- This policy aims to expand access to homeownership and aligns with the administration's vision for the U.S. as a crypto leader.
In the United States, the Federal Housing Finance Agency has recently initiated a significant policy shift regarding mortgage applications. Under the leadership of William Pulte, the agency directed Fannie Mae and Freddie Mac to include cryptocurrencies as assets in mortgage loan assessments. This directive, which was issued in late June 2025, marks a departure from the previous stance held during the prior administration, where cryptocurrencies were largely viewed with skepticism due to their high volatility and unregulated status. Homebuyers can now potentially include their cryptocurrency holdings in their mortgage applications without needing to convert these assets into U.S. dollars. This move is intended to expand the criteria banks use to assess borrower creditworthiness, providing a broader opportunity for aspiring homeowners who may possess digital assets. As cryptocurrency has gained acceptance in mainstream finance, its inclusion as a legitimate asset might reflect a shift in government policy towards digital currencies, particularly under the current administration's goal to establish the U.S. as a leader in the crypto industry. The directive specifies that only cryptocurrencies stored on U.S.-regulated centralized exchanges will be recognized, ensuring that there is some regulatory oversight. This cautious approach acknowledges the potential risks associated with digital assets while accommodating their growing acceptance in financial systems. The proposal put forth by Fannie Mae and Freddie Mac is still subject to approval from both their respective boards and the Federal Housing Finance Agency. Reactions to the new directive have been mixed, with some experts praising it as an innovative step forward that could increase access to homeownership for those holding these emerging assets. Conversely, critics warn that such a policy could lead to higher borrowing costs if market volatility surrounding cryptocurrencies is not adequately addressed. The impact of this measure on the housing market and how it shapes future lending practices remains to be seen as both agencies embark on developing their proposals regarding cryptocurrencies as an asset.