housing – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Mon, 28 Jul 2025 10:04:07 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 housing – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Senate Democrats Question Housing Agency Over Crypto in Mortgage Plans https://earlybirdsinvest.com/senate-democrats-question-housing-agency-over-crypto-in-mortgage-plans/ https://earlybirdsinvest.com/senate-democrats-question-housing-agency-over-crypto-in-mortgage-plans/#respond Mon, 28 Jul 2025 10:04:06 +0000 https://earlybirdsinvest.com/senate-democrats-question-housing-agency-over-crypto-in-mortgage-plans/

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Amin Ayan

Crypto Journalist

Amin Ayan

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Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has…

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A group of Senate Democrats is demanding answers from the head of the Federal Housing Finance Agency (FHFA) over a controversial move to consider crypto assets in mortgage assessments.

Key Takeaways:

  • Senate Democrats are pressing FHFA for clarity on plans to include crypto in mortgage assessments.
  • Lawmakers warn the move could pose financial risks due to crypto’s volatility and fraud exposure.
  • Concerns over potential conflicts of interest and lack of transparency are central to the probe.

In a letter sent Friday, five senators led by Jeff Merkley raised concerns about FHFA Director William Pulte’s recent directive instructing Fannie Mae and Freddie Mac to explore how crypto holdings could factor into mortgage risk evaluations without being converted into US dollars.

The letter, co-signed by Senators Elizabeth Warren, Chris Van Hollen, Mazie Hirono, and Bernie Sanders, calls for a detailed explanation by August 7.

“We urge you to fully assess the potential risks and benefits of your order and its implications for the U.S. housing market and financial system,” the senators wrote.

FHFA Rules Require Crypto to Be Converted Before Mortgage Use

The FHFA has overseen Fannie Mae and Freddie Mac since the 2008 financial crisis, when both institutions were placed under federal conservatorship.

Under current policy, crypto holdings must be liquidated into fiat before being considered in mortgage applications.

Pulte’s order, however, signals a possible shift. The senators say such a move “could introduce unnecessary risks to consumers and pose serious safety and soundness concerns for the U.S. housing and financial markets.”

They also warned that crypto’s volatility and history of liquidity issues could jeopardize borrowers’ ability to repay loans.

“Borrowers may not be able to exit a crypto position and convert to cash at a price that would allow them to buffer against risk of mortgage default,” they wrote.

Beyond market risk, the senators cited concerns over scams, cyberattacks, and theft, which they say leave homeowners “vulnerable to losing their crypto assets with little hope of recovery.”

The letter also raised potential ethical concerns. “We are concerned about how the FHFA, Fannie Mae, and Freddie Mac will prevent conflicts of interest,” the lawmakers stated, pointing to former President Donald Trump and his family’s involvement in multiple crypto ventures.

The Trumps reportedly have connections to trading platforms, stablecoins, mining businesses, memecoins, and NFTs.

The senators also took direct aim at Pulte, alleging a potential conflict due to his wife’s crypto holdings, which financial disclosures indicate could be worth up to $2 million.

They argue that Pulte’s dual role as FHFA Director and board chair of both Fannie Mae and Freddie Mac is problematic. “You have stacked those boards with industry allies,” the letter said.

Senators Slam FHFA for Lack of Clarity on Crypto Mortgage Order

The lawmakers criticized the lack of transparency surrounding the order, stating it “includes no information on how Fannie Mae and Freddie Mac would develop a proposal” or how the FHFA would assess risks or collect feedback.

They referenced the 2023 banking crisis, where crypto exposure contributed to the collapse of three banks, as a cautionary tale.

They also noted that in 2021, Fannie Mae concluded that crypto use for deposits, payments, or collateral was the “least appealing application” of blockchain.

The senators asked Pulte to provide internal communications related to the order, details on the approval process, and information on how he plans to address potential conflicts of interest.


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US Housing Agency Authorizes Crypto Assets In Mortgage Assessments https://earlybirdsinvest.com/us-housing-agency-authorizes-crypto-assets-in-mortgage-assessments/ https://earlybirdsinvest.com/us-housing-agency-authorizes-crypto-assets-in-mortgage-assessments/#respond Thu, 26 Jun 2025 15:15:57 +0000 https://earlybirdsinvest.com/us-housing-agency-authorizes-crypto-assets-in-mortgage-assessments/

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to recognize cryptocurrency as an asset in their assessments of single-family mortgage loan risks. 

This directive, issued by FHFA Director William J. Pulte, marks a pivotal moment in the integration of digital assets within the traditional finance framework, particularly in the realm of home lending.

Crypto As Asset For Home Loans

According to CNBC, the order mandates that both Fannie Mae and Freddie Mac create proposals that allow borrowers to use digital assets without needing to convert them into US dollars before closing a loan. 

Pulte emphasized that this initiative aligns with President Donald Trump’s vision of positioning the United States as a global leader in cryptocurrency.

Historically, cryptocurrency has been largely excluded from mortgage underwriting due to concerns over its volatility, regulatory ambiguities, and the challenges associated with verifying asset reserves. 

However, this new directive signals a shift in perspective, recognizing the increasing acceptance of crypto within institutional finance and federal policy.

A ‘Monumental Shift’

The FHFA’s order acknowledges cryptocurrency as an emerging asset class that could provide opportunities for wealth building outside of conventional stock and bond markets.

Yet, the directive specifies that only digital assets stored on US-regulated, centralized exchanges (CEX) will be considered, ensuring that these assets can be clearly evidenced. 

Additionally, Fannie Mae and Freddie Mac are required to implement measures to account for the “inherent volatility of cryptocurrencies,” ensuring that these assets do not jeopardize their underwriting standards.

Both enterprises will need to submit their proposals for assessment to their respective boards of directors and subsequently to the FHFA for final approval. 

Fannie Mae and Freddie Mac, which were placed under government control in September 2008 as government-sponsored enterprises (GSEs), play a crucial role in the US housing market, holding over $7 trillion in housing loans.

Market expert Echo X weighed in on this development in a recent social media post on X (formerly Twitter), asserting that the decision to allow digital assets as reserves represents a monumental shift. 

The expert noted that this change will enable borrowers to use their crypto holdings as part of their home loan qualifications, eliminating previous barriers that required users to liquidate their assets to qualify for loans. 

According to Echo X, this move opens the floodgates for genuine adoption of cryptocurrency within the housing market, signaling the dawn of a tokenized real estate market supported by the US mortgage system.

Crypto
The daily chart shows the total crypto market cap surge. Source: TOTAL on TradingView.com

This decision caused an uptick in prices across the broader digital asset ecosystem, with Bitcoin (BTC) surging 1.5% toward $107,000 in the 24-hour chart. Consequently, the total crypto market cap also surged to $3.27 trillion.

Featured image from DALL-E, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

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Limits on housing and energy have made politics toxic in the US https://earlybirdsinvest.com/limits-on-housing-and-energy-have-made-politics-toxic-in-the-us/ https://earlybirdsinvest.com/limits-on-housing-and-energy-have-made-politics-toxic-in-the-us/#respond Sun, 23 Mar 2025 07:23:33 +0000 https://earlybirdsinvest.com/limits-on-housing-and-energy-have-made-politics-toxic-in-the-us/

If you’re anything like me — a policy dork who spends too much time on X — you’ve been unable to escape discussion of a new book called Abundance.

Written by the Atlantic’s Derek Thompson and the New York Times’s Ezra Klein (also a co-founder of Vox), Abundance is one of those policy books with one big idea that everyone has to have an opinion on — whether they’ve read it or not.

In Abundance, Thompson and Klein’s big idea is that American politics and life for the past 50-plus years has been warped by an “ideology of scarcity” that has artificially reduced the supply of vital goods like housing and energy through a growing thicket of government restrictions and regulations. They argue for embracing a politics of abundance that encourages building and innovation and unlocks American prosperity, aiming for a future of “more” rather than “less” for everyone.

Thompson and Klein are self-identified liberals, and their book is mainly meant to diagnose what they see has gone wrong with Democratic governance in recent decades, as progressives have consciously adopted policies that aim to put limits on growth. They point to the examples of Democratic cities like San Francisco or New York, where regulations have made it virtually impossible to build new living spaces, putting the cost of housing out of reach for more and more people.

Even on issues that Democrats care deeply about, like climate change, their policies have inadvertently had the effect of slowing progress by making it difficult to build out the vast amount of clean energy needed to reduce carbon emissions without hurting the economy.

The result was that even as technological progress continued, we stopped feeling it and we stopped appreciating it — a consistent theme of this newsletter. Instead, bit by bit, and often with the best intentions, we put countless invisible brakes on development, with the net result that we reduced the supply and raised the price of the goods that we needed for a good life. And once we lost the ability to build physically, we lost the ability to build a better future.

Abundance isn’t just for Democrats

Given how much of Abundance focuses on where Democrats went wrong, the book has ignited debate among progressives. If you want to read more about that but don’t want to get lost in endless post threads or three-hour-long podcasts, my Vox colleague Eric Levitz has a great piece on the arguments and why Democrats should heed the message of Abundance.

But it’s a mistake to think of Abundance as a book that has meaning only for readers who vote blue. At its heart is a message that matters for Americans of all political backgrounds: we don’t have to fight endlessly over who gets what piece of a shrinking pie. For far too long we’ve let ourselves be convinced that we have to treat American life as a zero-sum game, but we can change the rules. We can embrace policies that actively grow that pie — policies that make housing more affordable in the places people want to live, that give us energy to power a high-tech economy without burning up the planet, that bring us better health care at lower costs.

Thompson and Klein recognize that Americans will never agree on everything, that there are issues where there are simply fundamental differences between the right and the left. But they’re right to argue that most Americans want a better life for themselves and their children, and that a politics focused on improving material progress in the areas that matter — housing, education, energy — is one that can appeal to almost everyone. As Thompson wrote in the Atlantic this week, abundance can “combine the progressive virtue of care for the working class and a traditionally conservative celebration of national greatness.”

If we can do that, we might just be able to break the polarization that has gridlocked progress and turned American politics into a winner-takes-all death match.

I’m sure not everyone who reads Abundance will agree with every page. Diagnosing the mistakes that have held back progress is a lot easier than creating a political movement that can unlock it. But I do believe there is a hunger in this country for a vision of the future that isn’t inherently fearful, that recaptures something of the optimism that was once synonymous with America. That gives me hope at a moment when we desperately need it.

A version of this story originally appeared in the Good News newsletter. Sign up here!

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Department of Housing and Urban Development Exploring Use of Blockchain and Stablecoins To Track Grants: Report https://earlybirdsinvest.com/department-of-housing-and-urban-development-exploring-use-of-blockchain-and-stablecoins-to-track-grants-report/ https://earlybirdsinvest.com/department-of-housing-and-urban-development-exploring-use-of-blockchain-and-stablecoins-to-track-grants-report/#respond Tue, 11 Mar 2025 19:28:13 +0000 https://earlybirdsinvest.com/department-of-housing-and-urban-development-exploring-use-of-blockchain-and-stablecoins-to-track-grants-report/

The U.S. Department of Housing and Urban Development (HUD) is reportedly mulling over the use of blockchain technology and stablecoins.

ProPublica, citing a meeting recording, “three officials familiar with the matter” and other reviewed materials, reports that the executive department is considering using blockchain technology to track HUD grants.

Irving Dennis, HUD’s principal deputy chief financial officer, has reportedly been driving the blockchain conversation, according to one unnamed official at the department, though Dennis denied that idea to ProPublica.

Dennis previously worked as a partner at the accounting giant EY, which reportedly sent an executive to discuss the blockchain idea with HUD officials earlier this year. EY confirmed that discussions took place, according to ProPublica.

HUD has also reportedly explored the use of stablecoins. The blockchain and stablecoin discussions have generated some concern at the executive department.

Said one HUD official to ProPublica,

“I don’t see any way this will help anything. I see a lot of ways this could hurt.”

Elon Musk, who heads President Donald Trump’s new Department of Government Efficiency (DOGE), has reportedly looked into leveraging blockchain technology to slash government expenses, monitor federal outlays, shield US data against bad actors, process payments and manage properties.

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US housing dept mulls blockchain, stablecoin to pay and monitor grants: Report https://earlybirdsinvest.com/us-housing-dept-mulls-blockchain-stablecoin-to-pay-and-monitor-grants-report/ https://earlybirdsinvest.com/us-housing-dept-mulls-blockchain-stablecoin-to-pay-and-monitor-grants-report/#respond Mon, 10 Mar 2025 03:45:49 +0000 https://earlybirdsinvest.com/us-housing-dept-mulls-blockchain-stablecoin-to-pay-and-monitor-grants-report/

The US Department of Housing and Urban Development is reportedly looking to experiment with using blockchain and a stablecoin for some of its functions.

The department, whose duties include overseeing social housing, has so far discussed the possibility of using blockchain to monitor grants, ProPublica reported on March 7, citing a meeting recording, documents and three officials familiar with the matter. 

Also discussed was the idea of experimenting with paying a HUD grantee using a stablecoin, which could first be tested in one of the department’s offices before being applied broadly across other offices.

HUD, headed by Trump pick Scott Turner, has also been wrapped up in Musk’s cost-cutting blitz. Source: Secretary Turner Press Office

Two officials told ProPublica they believe the HUD blockchain experiment could be a trial run for the use of crypto and blockchain across the federal government.

A meeting last month discussed a project where the Community Planning and Development office, which oversees billions of dollars in grants that support affordable housing and homeless shelters, would track funds to one grantee on the blockchain.

One meeting attendee later wrote the need for the project was “not well articulated,” and a HUD official slammed the plan in a staff memo as “dangerous and inefficient.” They added it was unnecessary and complicated and that stablecoin payments would add volatility.

Related: Trump turned crypto from ‘oppressed industry’ to ‘centerpiece’ of US strategy

At a follow-up meeting, HUD staffers had a more mixed review, with some saying the blockchain project could involve paying grantees with crypto and one official saying it could be done with “a stable currency.” Another finance official said blockchain would be implemented across the agency, starting in the CPD.

However, a HUD spokesperson told ProPublica that “the department has no plans for blockchain or stablecoin. Education is not implementation.”

President Donald Trump has closely embraced the crypto industry, and the reported HUD experiment mimics the ideas of his cost-cutting czar Elon Musk, who supports using blockchain in a bid to curb federal spending.

Meanwhile, US Treasury Secretary Scott Bessent said at the White House Crypto Summit on March 7 that the government would ”put a lot of thought into the stablecoin regime” in a bid to “keep the US [dollar] the dominant reserve currency in the world.”

Magazine: Elon Musk’s plan to run government on blockchain faces uphill battle 

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