Democrats probe housing regulator over considering crypto in mortgages
Main Idea
A group of Senate Democrats has questioned the Federal Housing Finance Agency (FHFA) director about the potential inclusion of cryptocurrency in mortgage determinations, citing risks and conflicts of interest.
Key Points
1. Five US Senate Democrats, led by Jeff Merkley, sent a letter to FHFA director William Pulte, seeking clarity on plans involving cryptocurrency in mortgages and its implications for the housing market and financial system.
2. The senators raised concerns about crypto's heightened risks, including scams, cyber hacks, and theft, which could negatively impact home buyers.
3. They also expressed worries about potential conflicts of interest involving FHFA, Fannie Mae, and Freddie Mac, particularly regarding industry influence on proposals.
4. The letter requests details on how Fannie Mae and Freddie Mac would develop proposals, assess risks and benefits, and gather feedback on crypto-related mortgage policies.
5. The senators referenced FHFA's past failures in overseeing crypto-related activities and noted Fannie Mae's 2021 findings on crypto and blockchain use in the industry.
Description
A group of Senate Democrats has probed Federal Housing Finance Agency director William Pulte over his order to propose how to consider crypto in mortgage applications.
Latest News
- How high can BNB price go? Market analyst predicts $2K cycle top2025-07-28 16:17:35
- Ethereum price headed for $4K showdown: Is this time different?2025-07-28 16:00:39
- Big brands are sleepwalking when it comes to stablecoins2025-07-28 15:33:01
- ECB adviser doubts digital euro can match US dollar stablecoins2025-07-28 14:34:43
- Avalanche gains $250M RWA boost with Grove, Janus Henderson funds2025-07-28 13:47:02