In a move that could reshape the future of home financing in the United States, the Federal Housing Finance Agency (FHFA) has issued a formal directive instructing Fannie Mae and Freddie Mac to begin evaluating cryptocurrency assets in their mortgage risk assessments.
The decision, signed by FHFA Director William Pulte, emphasizes that crypto is now considered a valid component of borrower wealth—and must be taken into account when assessing creditworthiness for single-family loans.
Crypto Gains Ground in Mortgage Underwriting
Until now, crypto holdings were excluded from standard mortgage underwriting unless converted to fiat. Under the new directive, however, the FHFA recognizes cryptocurrency as an emerging asset class that can provide long-term financial value—particularly outside traditional stock and bond portfolios.
The official document states that each agency must propose a framework to evaluate crypto assets held by borrowers. This includes risk adjustments for market volatility and regulatory compliance, but allows for crypto to be counted as reserves without requiring conversion to U.S. dollars.
“The consideration of additional borrower assets… may enable the Enterprises to assess the full spectrum of asset information,” the order explains, referencing Fannie Mae crypto assets directly as part of this broader shift.
Trump Administration Influence and Political Backing
The directive appears closely aligned with President Trump’s vision to make the United States the “crypto capital of the world,” as noted in the accompanying tweet from Pulte.
“Today I ordered Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage,” Pulte announced in the post, linking the decision to Trump-era innovation goals.
While the directive avoids direct political language, it clearly reflects a broader shift in federal tone around digital assets—especially as election season intensifies.
How the Process Will Work
Fannie Mae and Freddie Mac are now required to:
- Create formal proposals to include crypto in mortgage risk models
- Evaluate only verifiable crypto assets held on U.S.-regulated exchanges
- Adjust risk models to reflect crypto volatility and liquidity
- Submit proposals for FHFA review prior to implementation
Each agency must avoid double-counting fiat and crypto reserves and must document how crypto will be weighed in relation to traditional assets.
Although the decision does not force immediate changes to underwriting procedures, it sets a precedent that could have ripple effects across both traditional banks and fintech mortgage platforms.
Industry Reactions and Potential Impact
Early responses from the crypto industry have been largely positive. Analysts view the move as a breakthrough for adoption, bridging the gap between digital finance and real-world assets like homeownership.
However, mortgage experts urge caution, citing concerns over price volatility, valuation accuracy, and long-term liquidity of digital assets. Critics warn that counting crypto as collateral may introduce new systemic risks if not properly regulated.
Still, the inclusion of Fannie Mae crypto assets in formal risk models represents a historic step forward in crypto’s integration into U.S. financial infrastructure.
Final Thoughts: Crypto Moves Into Mortgage Finance
By ordering Fannie Mae and Freddie Mac to account for crypto assets, the FHFA has taken a bold step toward modernizing U.S. mortgage standards. While challenges remain, this policy signals that digital assets are becoming a recognized part of the American wealth profile—not just for trading or staking, but for building a home.
