A coalition of US Senate Democrats has formally requested details from the Federal Housing Finance Agency (FHFA) regarding its consideration of cryptocurrency in mortgage underwriting.
In a letter to FHFA Director William Pulte, Senators Jeff Merkley, Elizabeth Warren, Chris Van Hollen, Mazie Hirono, and Bernie Sanders expressed concerns over his recent order instructing Fannie Mae and Freddie Mac to develop a framework for evaluating crypto assets in single-family mortgage approvals—without requiring conversion to fiat currency.
The lawmakers seek a thorough risk-benefit analysis by August 7, citing potential implications for the housing finance system. The FHFA has supervised Fannie and Freddie since their government takeover during the 2008 financial crisis.
