Fannie Mae and Freddie Mac to Consider Cryptocurrency as an Asset for Mortgages

FHFA Director William J. Pulte recently ordered Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for single-family mortgage loans.  The FHFA Director highlighted that the order is in the spirit of making the United States the cryptocurrency capital of the world.

Pursuant to the order, Fannie Mae and Freddie Mac must prepare a proposal for consideration of cryptocurrency as an asset for reserves in their respective single-family mortgage loan risk assessments, without conversion of the cryptocurrency to U.S. dollars.  To be considered as an asset for reserves, the cryptocurrency must be stored on a U.S. regulated centralized exchange.  Fannie Mae and Freddie Mac must also consider additional risk mitigants pursuant to their own assessments, including adjustments for market volatility.  Prior to implementing any changes, Fannie Mae and Freddie Mac must receive approval from their Board of Directors before submitting their proposals to FHFA for review.

The order, signed on June 25, 2025, is effective immediately and Fannie Mae and Freddie Mac are required to begin developing their proposals as soon as reasonably practical.