Bitcoin Gets The Greenlight To Be Counted As Assets For Mortgage Applications, But What About XRP?
The Federal Housing Finance Agency (FHFA) has issued a directive allowing mortgage liquidity providers to consider cryptocurrencies as part of a borrower's asset portfolio during mortgage evaluations. Fannie Mae and Freddie Mac are instructed to prepare proposals enabling homebuyers to count cryptocurrency holdings from US-regulated exchanges without converting them to dollars. This policy shift aims to recognize crypto assets in mortgage assessments, which previously required conversion to U.S. dollars. The directive emphasizes the need for risk-based adjustments due to market volatility. Bitcoin is expected to benefit the most from this change, given its established presence and liquidity. Uncertainty remains for XRP holders regarding its inclusion under this directive, as it has faced regulatory challenges. The directive does not specify eligible cryptocurrencies, potentially allowing for the inclusion of XRP and Ethereum. Other countries, like Japan and Dubai, are already utilizing XRP in real estate transactions.
