The ledes, why must we find them?
Due to their significant financial influence in the mortgage market and indirect control by government entities, both Fannie Mae and Freddie Mac set the industry standards that all other home lenders follow. Each piece of guidance offered to lenders looking to have mortgages securitized by either Fannie Mae and Freddie Mac therefore carries with it a de facto regulation that all other lenders follow.Bringing this back to bitcoin, if Fannie Mae amended key language in their Selling Guide (SEL-2022-04) on virtual currencies, it would unlock the ability for Americans to use bitcoin as collateral for home loans, giving potentially millions of families the ability to also live out their dreams of home ownership.
> First, it would need to establish that income earned in bitcoin and its crypto-offspring should be considered when qualifying as a borrower. Second, assets used to establish coinsurance for certain income types can be in the form of bitcoin and its crypto-offspring.
By reversing the previous guidelines and including bitcoin as an appropriate asset for income and net worth calculation, Fannie Mae would implicitly greenlight an innovative boom when it comes to bitcoin-based mortgages and lending.That is it.