Pulte: Fhfa Is Exploring Use Of Cryptocurrencies In Mortgages

Federal Housing Finance Agency Director Bill Pulte wrote in a social media post this week that the FHFA is studying the use of cryptocurrencies in the mortgage application process. The topic has sparked curiosity across the mortgage industry due to its potential and associated risks, with some fintechs already launching crypto-based solutions.

“We will study the usage of cryptocurrency holdings as it relates to qualifying for mortgages,” Pulte wrote Monday in response to a question from a user on the social media platform X.

Proponents of the idea see several potential applications for cryptocurrencies in mortgages — particularly for individuals who may not qualify for traditional loans due to factors like income or credit history. In some cases, borrowers can use assets like Bitcoin or Ethereum as collateral to obtain fiat currency loans for purchasing real estate.

Meanwhile, blockchain technology holds promise for streamlining processes and enhancing transparency. In 2023, the Mortgage Industry Standards Maintenance Organization (MISMO) released a white paper stating that blockchain use could cut lending timelines by at least 30% and reduce costs by 25% or more compared to industry averages.

Despite its promise, cryptocurrency also brings risks. Its value is highly volatile, which can trigger margin calls — forcing borrowers to provide additional collateral if asset values fall. Broader adoption remains limited due to an evolving regulatory landscape.

Companies that currently offer crypto-backed mortgages include Miami-based Milo, which enables borrowers to pledge cryptocurrency through regulated custodians such as Coinbase or Gemini and finance up to 100% of a home’s purchase price. Rates are typically between 9% and 10%, with loan amounts starting at $275,000. 

Milo CEO Josip Rupena told HousingWire in a statement that he was supportive of Pulte’s desire to explore the integration of crypto holdings for FHFA-backed mortgages.

“It reflects just how far the conversation has come around recognizing digital assets as a legitimate part of someone’s financial profile,” Rupena said. “At Milo, we saw this shift early and have spent the last three years helping clients qualify using their crypto, either as reserves or collateral, because for many, it represents a meaningful share of their net worth.

“If implemented more widely, this could give access to mortgage financing for a much broader group of people who have historically been overlooked by traditional lending frameworks. It’s a step in the right direction, and we’re always happy to share what we’ve learned.”

Other players in the space include Ledn, a Toronto-based lending platform; Figure, led by former SoFi CEO Mike Cagney; and Moon Mortgage.

LoanSnap, another company that offers blockchain-enabled financing, has faced legal and financial problems, including the revocation of its licenses in Connecticut and California.

Editor’s note: This story was updated with comments from Milo CEO Josip Rupina.