Fannie Mae to accept crypto-backed mortgages through Better Home and Coinbase product
The Facts
- Fannie Mae will soon accept crypto-backed mortgages for the first time through a new product tied to Better Home & Finance and Coinbase.
- The new mortgage product lets qualified borrowers pledge Bitcoin or USDC as collateral for a down payment instead of selling those assets.
- The mortgage itself remains a standard conforming loan backed by Fannie Mae, while the crypto is used for a separate down-payment loan.
- Better Home & Finance will originate and service the mortgages, and Coinbase will provide the crypto-collateral infrastructure.
- The companies said the product is intended to help homebuyers who want to keep their crypto holdings rather than liquidate them for a home purchase.
- News of the announcement was followed by a rise in Better Home shares and declines in Coinbase and Fannie Mae shares in the market data cited by reporters.
Context
Is this the first crypto-backed mortgage product in the U.S.?
No. Several reports say crypto-backed mortgage products already existed, but this is the first one to be accepted by Fannie Mae Investing.com,CNBC,WSJ.
What assets can borrowers use in the new product?
The reports say borrowers can pledge Bitcoin or USDC, a dollar-pegged stablecoin, as collateral for the down payment Aol,Reuters,Cointelegraph.
Why would a borrower use crypto instead of cash for a down payment?
The structure lets borrowers keep their crypto holdings intact rather than selling them, which the sources say may help them avoid a taxable event and stay invested Reuters,Bloomberg Business,Fortune,CoinDesk.
The receipts — all 81 sources
Wire services (6)
APInternational Business Times, Singapore EditionCoinbase and Fannie Mae Open Door to Home Loans With Cryptoc...
Independent coverage (50)
coinidol.comThe "HODL-to-Home" Revolution: Coinbase's Crypto-Backed Mort...
BlockonomiFannie Mae Partners with Coinbase to Enable Bitcoin and USDC...
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The Daily UpsideNeed Collateral to Get a Mortgage? Check Your Crypto Wallet
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U.S. News & World ReportBetter Home & Finance, Coinbase to Offer Mortgage Backed by ...
cryptoticker.ioBREAKING News: Fannie Mae to Accept Crypto-Backed Mortgages
ForkLogBitcoin-Backed Loans to Debut in the United States | ForkLog
fintechmagazine.comCoinbase: Are Token-Backed Mortgages the Next Innovation?
MorningstarBetter Home & Finance Stock Rises on Partnership with Coinba...
PropmodoFannie Mae Opens the Door to Crypto Backed Mortgages
CoindooCoinbase Pushes Crypto Into U.S. Housing Finance With Bitcoi...
Ledger Insights - enterprise blockchainCoinbase partners Better for crypto backed mortgage linked l...
CNBCFannie Mae accepts first crypto-backed mortgage product
RocketNews | Top News Stories From Around the GlobeFannie Mae accepts first crypto-backed mortgage product - Ro...
AolMortgage giant Fannie Mae will soon accept crypto-backed hom...
Crypto ReporterBetter and Coinbase Launch the First Token-Backed, Conformin...
Bitcoinist.comFannie Mae To Accept Crypto, Bitcoin As Collateral For Mortg...
The Crypto Basic - Bitcoin, Cryptocurrency, DeFi Topics And NewsFannie Mae Moves to Accept Bitcoin and USDC as Mortgage Coll...
Yahoo! FinanceMortgage giant Fannie Mae will soon accept crypto-backed hom...
PYMNTS.comCoinbase and Better Enable Homebuyers to Borrow Against Thei...
Live Bitcoin NewsFannie Mae Plans First Crypto-Backed Mortgages with Coinbase...
Sherwood NewsFor the first time, Fannie Mae will allow mortgages to be ba...
Advisor PerspectivesCrypto Enters the Mortgage Market Via Fannie Mae-Eligible Lo...
COINTURK NEWSFannie Mae and Freddie Mac Accept Bitcoin and Ethereum as Mo...
The CryptonomistCrypto backed mortgage: Coinbase powers Better down payments...
HousingWireBetter and Coinbase launch token-backed mortgage down paymen...
u.todayBitcoin Down Payment Now Accepted by Fannie Mae - U.Today
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