Fannie Mae and Freddie Mac are going to engage with cryptocurrencies? The U.S. mortgage market is about to face a 'crypto storm'!

Core event: The U.S. government instructs Fannie Mae and Freddie Mac to study the inclusion of cryptocurrencies in mortgage risk assessment systems. This means that in the future, your Bitcoin and Ethereum may be used to assess your mortgage eligibility!

Why suddenly research 'cryptocurrency + mortgages'?

  • Real demand: An increasing number of Americans hold cryptocurrencies (about 20% of adults), and the traditional credit scoring system can no longer fully reflect borrowers' asset situations.

  • Policy exploration: The U.S. government is attempting to find a balance between 'not encouraging speculation' and 'not ignoring reality' to avoid falling behind in the mortgage market.

  • Risk hedging: If cryptocurrencies genuinely become mainstream assets, mortgage institutions need to model in advance to prevent future systemic risks.

Possible landing scenarios (bold predictions)

New mortgage option: Apply for a mortgage using BTC/ETH as part of the collateral (similar to stock pledge loans).
Credit score boost: Holding a certain proportion of stablecoins (like USDC) can improve loan approval rates.
Risk warning mechanism: If the proportion of cryptocurrencies in a borrower's assets is too high, they may be required to provide additional guarantees.

Three major controversies: Celebration or disaster?

Supporters believe that:

1. Increase financial inclusivity, allowing 'crypto people' to buy houses more easily.

2. Promote the compliance of cryptocurrencies, which will benefit the industry's long-term development.

Opponents warn:

Volatility bomb: A 20% daily fluctuation in Bitcoin is common. If housing prices are tied to cryptocurrency prices, it may trigger a chain of liquidations.

Money laundering loopholes: The anonymity of cryptocurrencies may be abused, increasing the risk of mortgage fraud.

Policy contradiction: The U.S. is simultaneously cracking down on exchanges (e.g., SEC suing Coinbase) while allowing Fannie Mae to accept cryptocurrencies. Is this a form of schizophrenia?

Impact on ordinary people:

Holders: There may be an additional financing channel in the future, but you must bear the risk of 'margin calls due to price crashes.'

Homebuyers: Traditional borrowers may face more intense competition (can cryptocurrency tycoons' BTC also be used as a down payment?).

Market ecology: If realized, this will greatly enhance the 'real utility' of cryptocurrencies, transforming them from mere speculative tools.

China comparison: Another possibility under strict regulation

China has explicitly banned cryptocurrency trading but is also promoting pilot programs for the digital yuan (CBDC). Will we see 'digital yuan mortgages' in the future? It’s worth observing.

Conclusion: A dangerous financial experiment

Fannie Mae and Freddie Mac's exploration is essentially another 'reconciliation' of the traditional financial system with the crypto world. However, the high volatility of cryptocurrencies combined with regulatory ambiguity may exacerbate the already fragile mortgage system.

What do you think?

1. Supporters: This is an inevitable trend of financial innovation!

2. Opponents: Don’t let Wall Street gamblers drag ordinary people's homes down with them!

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