Fannie Mae and Freddie Mac may start considering cryptocurrency assets when conducting risk assessments for single-family loans, according to an order posted Wednesday on social media by Bill Pulte, director of the Federal Housing Finance Agency, which oversees the mortgage giants.
Previously, cryptocurrencies needed to be converted to U.S. dollars before Fannie and Freddie could include the assets in mortgage risk assessments for loans delivered to the government-sponsored enterprises (GSEs). Pulte’s order directs Fannie and Freddie to prepare proposals that would consider cryptocurrencies as a stand-alone asset when determining creditworthiness.
“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,” Pulte wrote on X.
Cryptocurrencies are uncharted waters for Fannie and Freddie. Bitcoin and other crypto prices are significantly more volatile than traditional stocks and bonds, adding a layer of complexity to loan risk assessments.
It is unclear which specific cryptocurrencies would be permitted for consideration by Fannie and Freddie, though bitcoin, the most popular crypto asset, would certainly be included if the GSEs move forward with Pulte’s plan.
“Each Enterprise is directed to consider only cryptocurrency assets that can be evidenced and stored on a U.S.-regulated centralized exchange subject to all applicable laws,” the order reads.
Wednesday’s announcement is the latest salvo in the Trump administration’s aggressive push into the cryptocurrency space during President Donald Trump’s second term in the White House. In March, Trump announced the establishment of a strategic bitcoin reserve that will treat bitcoin as a reserve asset for the federal government.
In May, Coinbase, the world’s largest bitcoin custodian, became the first crypto company to join the S&P 500 index.
Pulte’s order states that prior to implementing any changes, Fannie and Freddie must first receive approval from their respective boards before submitting the proposed crypto policies to the FHFA for review.
In addition to heading the FHFA, Pulte appointed himself chairman of the both the Fannie and Freddie boards in March, giving him significant sway over the policy decisions of the GSEs.
