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Fannie Mae accepts first crypto-backed mortgage product
Fannie Mae will now accept crypto-backed mortgages via a new product by mortgage company Better Home and Finance and Coinbase . It’s not the first crypto backed mortgage, but it is the first accepted by Fannie Mae, which is under government conservatorship. The offering allows homebuyers to use their crypto assets as collateral. Fannie Mae will purchase those loans just like any other conforming mortgage. “We have now finally created the infrastructure rails to enable any tokenized asset in America to be able to be pledged to help someone afford to buy a home,” Vishal Garg, CEO of Better, told CNBC in an ... (full story)
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