FHFA Director William J. Pulte has ordered the lenders to consider crypto holdings when analyzing applicants
The Federal Housing Finance Agency (FHFA) took a step in the direction of including digital assets in the traditional mortgage process. In a directive issued this week, FHFA Director William J. Pulte ordered Fannie Mae and Freddie Mac to come up with proposals that include cryptocurrency holdings in mortgage loan risk analyses, without them being converted to US dollars.
This is a big win for Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSEs) that purchase mortgages from lenders. Traditionally, cryptocurrency has never been accepted as a valid reserve asset in considering loan applications, except when converted to fiat currency for the first time. Pulte’s order permits borrowers to add verified cryptocurrency holdings to their financial background when seeking a mortgage.
The FHFA, which has overseen the two GSEs since the 2008 housing crisis, stated the move reflects changing market conditions and increasing participation of digital assets in consumer finance. In a letter, Pulte emphasized that only digital currencies held on U.S.-regulated exchanges should be considered, depending on regulatory compliance and consumer protection.
After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage.
SO ORDERED pic.twitter.com/Tg9ReJQXC3
— Pulte (@pulte) June 25, 2025
The step, Pulte explained, is the product of “substantial research” and reflects broader efforts to position the US as a preeminent digital assets player. It also indicates growing recognition that cryptocurrency may be used as collateral, not just in niche lending markets, but potentially even in federally insured home mortgages.
This action is part of broader trends in finance. Major institutions like JPMorgan are exploring crypto-backed collateral for some clients, and stablecoins like USDC are being established to be used for regulated futures trading. In the home finance market, some businesses already offer crypto-backed mortgage loans, allowing owners of digital assets to utilize Bitcoin or Ether to borrow without selling.
If applied, the FHFA guidance would be a historic benchmark for bringing crypto mainstream into residential home lending, signaling a new era of digital finance in real estate.
