FHFA Signals to Count Crypto in U.S. Mortgage Underwriting

One of the Most Significant U.S. Mortgage Regulatory Shifts in Decades

The head of the Federal Housing Finance Agency is calling on Fannie Mae and Freddie Mac to begin preparing for a future where cryptocurrency is treated as a qualifying asset in mortgage applications.

FHFA Director and Chairman of both government-sponsored enterprises (GSEs), William J. Pulte, said this week that he has directed the mortgage giants to ready their systems for a shift that would allow digital currencies like Bitcoin and Ethereum to be recognized in home loan underwriting.

“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 in a post on X, formerly Twitter. “I believe Americans should be able to use their crypto if they want to. It’s time the housing system caught up.”

While no official guidance or regulatory framework has been issued by the FHFA, Pulte’s comments suggest a potential policy shift that could significantly impact housing finance and crypto markets alike. Currently, digital assets are not recognized by either GSE in underwriting decisions, and borrowers must rely on fiat-based reserves and income documentation to qualify.

The announcement comes as part of a broader push by Pulte to modernize the U.S. housing system. Earlier this week, he publicly urged software engineers and fintech founders to enter the real estate space, describing the housing industry as “in desperate need of a massive upgrade.”

“In keeping with President Trump’s vision to make the United States the crypto capital of the world,” Pulte said, “this is a necessary next step.”

Industry observers note that integrating cryptocurrency into GSE underwriting would present significant compliance, volatility, and risk management challenges. Verification of crypto holdings, regulatory ambiguity, and concerns over price instability remain unresolved issues.

Still, the FHFA’s top official wading into the debate marks the clearest indication yet that Washington is seriously contemplating digital assets’ role in mainstream finance — and homeownership.

Whether Pulte’s directive results in actionable change or becomes mired in policy debate remains to be seen. But the conversation has now reached the highest levels of U.S. housing finance, setting the stage for what could be one of the most consequential regulatory evolutions in mortgage qualification in decades.