According to Cointelegraph, Coinbase has partnered with Better Home & Finance to launch a token-collateralized home down payment loan service this summer, allowing qualified borrowers to use Bitcoin or USDC as collateral to pay the down payment on Fannie Mae-backed mortgages. Better’s CEO, Vishal Garg, stated that the initiative aims to help homebuyers with the ability to repay loans but whose wealth is not held within traditional financial systems overcome the down payment barrier. The U.S. Federal Housing Finance Agency has instructed Fannie Mae and Freddie Mac to incorporate crypto assets into mortgage risk assessments without requiring conversion to fiat currency.
Coinbase and Better Launch Token-Collateralized Mortgage Service
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Summary
Coinbase and Better are launching token listing news this summer with a new token listing service. Qualified borrowers can use Bitcoin or USDC as collateral for Fannie Mae-backed mortgage down payments. Better CEO Vishal Garg said the move helps homebuyers with crypto wealth bypass traditional down payment hurdles. The Federal Housing Finance Agency has instructed Fannie Mae and Freddie Mac to assess crypto assets in mortgage risk models without converting them to fiat.
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