“US mortgages lenders have taken a step into crypto’s mainstream; payments” — Paul Ebeling
An announcement from the nation’s 2nd-largest home lender that it will soon accept borrowers’ monthly payments in cryptocurrency is evidence that crypto is cash money.
“We’re excited that hopefully, that by the end of September, we can actually execute on that before anyone in the country,” United Wholesale Mortgage CEO said during an earnings call with Wall Street analysts last week.
Giving borrowers who have locked down historically low mortgage rates more flexibility to make their payments would have benefits for a lender.
“We have nearly 1 million consumers who pay us a monthly mortgage payment,” he says, “and if accepting Bitcoin or other types of crypto makes it easier for our clients, we’re going to find a way to do it.”
For borrowers with crypto reserves to tap into, making mortgage payments could be easier at the times token values are surging.
The details are being sorted out now. Stay tuned.
Have a prosperous day, Keep the Faith!