Latest news with #U.S.FederalHousingFinanceAgency
USA Today
06-07-2025
- Business
- USA Today
Bitcoin just became a path to homeownership. Here's how
Due to the rising cost of housing in America, many young people now think they might not ever be able to afford a new house. But don't worry, Bitcoin (CRYPTO: BTC) could change all that and make home ownership a reality. At the end of June, the U.S. Federal Housing Finance Agency issued a new directive, instructing both Fannie Mae and Freddie Mac to count Bitcoin as an asset on single-family home mortgage applications. Previously, mortgage applicants had to convert any Bitcoin holdings into U.S. dollars if they wanted their crypto to count. Given Bitcoin's rapid price appreciation over the past decade, this move could end up being a real game-changer. Here's why. The price of housing is out of control Most people agree that the American dream of buying a new home is currently out of reach. Prices for homes have been soaring, and higher interest rates have put mortgage payments out of reach for many would-be home buyers. There's plenty of evidence to support this. In July 2024, a CNN survey reported that 86% of all renters said they would like to buy a home but can't afford one. And 54% of those said that it was "unlikely" that they would ever be able to. The problem is even more profound for young would-be homeowners, who now face a slowing economy and nagging thoughts that AI could be coming for their jobs. How are they ever possibly going to be able to afford a new house? Bitcoin as a hedge against inflation And that's where Bitcoin comes into the picture. If you think the prices of new homes are soaring, then what about the price of Bitcoin? In 2022, the price of Bitcoin was $17,000. Today, the price of Bitcoin is $107,000. If you had purchased Bitcoin in 2012, when it was trading for less than $100, you'd be able to afford just about any type of home you could imagine today. A new 30-second ad from Coinbase Global makes this point perfectly. The Coinbase ad shows a beautiful, two-story, pastel blue suburban home with a manicured lawn — the stuff that homeowner dreams are made of. A voice intones: "In 2012, you'd need 30,000 Bitcoin to buy this house... A decade later, it would only take you 20 Bitcoin... And, today, it could be yours for 5." But the real kicker comes at the end of the ad: "If home prices keep falling in Bitcoin, why do they keep rising in dollars?" That, in a nutshell, is why investing in Bitcoin could help you afford your next house. Bitcoin is a disinflationary asset and a potential hedge against inflation. Best of all, Bitcoin is widely available to everyone. You don't need to be an accredited investor and you don't need millions of dollars. In fact, most cryptocurrency exchanges will let you start buying Bitcoin with just a few bucks. How will the new rules work? The U.S. government is thinking out of the box on this one. According to William J. Pulte, Director of the U.S. Federal Housing Finance Agency, this new thinking about Bitcoin is part of a bigger vision by the Trump administration to make America the "crypto capital of the world." And what better way to do that than by making the American dream of home ownership a reality again? Right now, it's just a directive, instructing Fannie Mae and Freddie Mac to get busy on this. According to the text of this directive, it will apply to all crypto "evidenced and stored on a U.S.-regulated centralized exchange." And it will give Fannie Mae and Freddie Mac a bit of wiggle room when it comes to adjusting for risk, volatility and overall market conditions. One big winner in all of this could be centralized cryptocurrency exchanges such as Coinbase. It's still early, but it looks like you won't be able to list Bitcoin as an asset on a mortgage application if you have it stored anywhere else. So, for example, you won't be able to count your Bitcoin if you have it in cold storage on a hardware device hidden under your bed. Also, the directive doesn't mention spot Bitcoin ETFs, so it will be interesting to see what develops here. With these ETFs, Bitcoin is held only "indirectly," not "directly." So will this Bitcoin count also? If it doesn't, it's easy to envision a scenario in which people stop buying the spot Bitcoin ETFs and shift to buying Bitcoin on Coinbase. Get ready to buy a new home with Bitcoin The really exciting part about all this is that many top investors now expect Bitcoin to hit $1 million within the next five years. For example, Cathie Wood of Ark Invest thinks Bitcoin will hit $1.48 million by the year 2030. Given Bitcoin's current price of $107,000, that's a more than 10x increase within a very short period of time. With those types of gains, you could be well on your way to home ownership in just a few years. Dominic Basulto has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy. The Motley Fool is a USA TODAY content partner offering financial news, analysis and commentary designed to help people take control of their financial lives. Its content is produced independently of USA TODAY. Should you invest $1,000 in Bitcoin right now? Offer from the Motley Fool: Before you buy stock in Bitcoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Bitcoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider whenNetflixmade this list on December 17, 2004... if you invested $1,000 at the time of our recommendation,you'd have $713,547!* Or when Nvidiamade this list on April 15, 2005... if you invested $1,000 at the time of our recommendation,you'd have $966,931!* Now, it's worth notingStock Advisor's total average return is1,062% — a market-crushing outperformance compared to177%for the S&P 500. Don't miss out on the latest top 10 list, available when you joinStock Advisor. See the 10 stocks »
Yahoo
01-07-2025
- Business
- Yahoo
Could Investing in Bitcoin Help You Buy Your Next House?
The U.S. Federal Housing Finance Agency will now enable potential homebuyers to use Bitcoin as part of their mortgage application. The move is significant, because the price of homeownership is falling in Bitcoin but rising in dollars. In 2012, Bitcoin traded for less than $100; today, it trades for over $100,000. 10 stocks we like better than Bitcoin › Due to the rising cost of housing in America, many young people now think they might not ever be able to afford a new house. But don't worry, Bitcoin (CRYPTO: BTC) could change all that and make home ownership a reality. At the end of June, the U.S. Federal Housing Finance Agency issued a new directive, instructing both Fannie Mae and Freddie Mac to count Bitcoin as an asset on single-family home mortgage applications. Previously, mortgage applicants had to convert any Bitcoin holdings into U.S. dollars if they wanted their crypto to count. Given Bitcoin's rapid price appreciation over the past decade, this move could end up being a real game-changer. Here's why. Most people agree that the American dream of buying a new home is currently out of reach. Prices for homes have been soaring, and higher interest rates have put mortgage payments out of reach for many would-be home buyers. There's plenty of evidence to support this. In July 2024, a CNN survey reported that 86% of all renters said they would like to buy a home but can't afford one. And 54% of those said that it was "unlikely" that they would ever be able to. The problem is even more profound for young would-be homeowners, who now face a slowing economy and nagging thoughts that AI could be coming for their jobs. How are they ever possibly going to be able to afford a new house? And that's where Bitcoin comes into the picture. If you think the prices of new homes are soaring, then what about the price of Bitcoin? In 2022, the price of Bitcoin was $17,000. Today, the price of Bitcoin is $107,000. If you had purchased Bitcoin in 2012, when it was trading for less than $100, you'd be able to afford just about any type of home you could imagine today. A new 30-second ad from Coinbase Global makes this point perfectly. The Coinbase ad shows a beautiful, two-story, pastel blue suburban home with a manicured lawn -- the stuff that homeowner dreams are made of. A voice intones: "In 2012, you'd need 30,000 Bitcoin to buy this house... A decade later, it would only take you 20 Bitcoin... And, today, it could be yours for 5." But the real kicker comes at the end of the ad: "If home prices keep falling in Bitcoin, why do they keep rising in dollars?" That, in a nutshell, is why investing in Bitcoin could help you afford your next house. Bitcoin is a disinflationary asset and a potential hedge against inflation. Best of all, Bitcoin is widely available to everyone. You don't need to be an accredited investor and you don't need millions of dollars. In fact, most cryptocurrency exchanges will let you start buying Bitcoin with just a few bucks. The U.S. government is thinking out of the box on this one. According to William J. Pulte, Director of the U.S. Federal Housing Finance Agency, this new thinking about Bitcoin is part of a bigger vision by the Trump administration to make America the "crypto capital of the world." And what better way to do that than by making the American dream of home ownership a reality again? Right now, it's just a directive, instructing Fannie Mae and Freddie Mac to get busy on this. According to the text of this directive, it will apply to all crypto "evidenced and stored on a U.S.-regulated centralized exchange." And it will give Fannie Mae and Freddie Mac a bit of wiggle room when it comes to adjusting for risk, volatility, and overall market conditions. One big winner in all of this could be centralized cryptocurrency exchanges such as Coinbase. It's still early, but it looks like you won't be able to list Bitcoin as an asset on a mortgage application if you have it stored anywhere else. So, for example, you won't be able to count your Bitcoin if you have it in cold storage on a hardware device hidden under your bed. Also, the directive doesn't mention spot Bitcoin ETFs, so it will be interesting to see what develops here. With these ETFs, Bitcoin is held only "indirectly," not "directly." So will this Bitcoin count also? If it doesn't, it's easy to envision a scenario in which people stop buying the spot Bitcoin ETFs and shift to buying Bitcoin on Coinbase. The really exciting part about all this is that many top investors now expect Bitcoin to hit $1 million within the next five years. For example, Cathie Wood of Ark Invest thinks Bitcoin will hit $1.48 million by the year 2030. Given Bitcoin's current price of $107,000, that's a more than 10x increase within a very short period of time. With those types of gains, you could be well on your way to home ownership in just a few years. Before you buy stock in Bitcoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Bitcoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $713,547!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $966,931!* Now, it's worth noting Stock Advisor's total average return is 1,062% — a market-crushing outperformance compared to 177% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 30, 2025 Dominic Basulto has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy. Could Investing in Bitcoin Help You Buy Your Next House? was originally published by The Motley Fool
Business Insider
27-06-2025
- Business
- Business Insider
BTC, ETH, XRP: U.S. to Consider Crypto Assets on Mortgage Applications
In what's being called a major shift, the U.S. Federal Housing Finance Agency is directing lenders to consider a person's cryptocurrency assets when evaluating home mortgage applications. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter The Housing Finance Agency has issued a directive ordering Fannie Mae (FNMA) and Freddie Mac (FMCC) to formally consider crypto as an asset in single-family mortgage assessments. The new order directs both housing finance agencies to develop proposals that include digital assets without requiring borrowers to liquidate them into U.S. dollars prior to a home loan closing. The move is being viewed as a new era of crypto integration into traditional finance and comes as the administration of U.S. President Donald Trump pushes to legitimize digital assets such as Bitcoin (BTC), Ethereum (ETH), and XRP (XRP). New Approach The U.S. Federal Housing Finance Agency said in a social media post that the move aligns with President Trump's efforts 'to make the United States the crypto capital of the world.' Historically, cryptocurrency has been excluded from consideration in loan and mortgage applications due to its volatility and price swings, as well as the inability to easily verify reserves. That approach is now changing as the U.S. federal government and institutions embrace crypto across banking, payments, and as policy. 'Cryptocurrency is an emerging asset class that may offer an opportunity to build wealth outside of the stock and bond markets,' states the U.S. Federal Housing Finance Agency's order. The new directive restricts crypto mortgage consideration to digital assets that are stored on U.S.-regulated, centralized exchanges and can be clearly verified. It also requires Fannie Mae and Freddie Mac to develop internal adjustments to account for crypto's market volatility. Bitcoin, the largest cryptocurrency by market capitalization, has gained 11% this year. Is BTC a Buy?
The Herald Scotland
09-05-2025
- Business
- The Herald Scotland
FBI opens investigation into NY AG Tish James, reports say
President Donald Trump has frequently attacked James since she won a $454 million judgement against Trump for defrauding lenders by inflating his assets in 2024. In a criminal referral filed in April, the Trump-appointed director of the U.S. Federal Housing Finance Agency accused James of falsifying bank documents and property records in multiple instances in order to acquire government backed assistance loans and more favorable loan terms. FHFA head William Pulte alleged in the referral that James potentially misrepresented property descriptions and claimed her primary residential status as Norfolk. He cited "media reports" as the basis. On April 24, attorney Abbe Lowell sent a letter to the Justice Department arguing the accusations against James are meritless and that they are motivated by Trump's personal animus towards James. "These baseless and long-discredited allegations, put to rest by my April 24th letter to the Department of Justice, are suddenly back in the news just days after President Trump publicly attacked Attorney General James," Lowell said in a May 8 statement on behalf of James. "This appears to be the political retribution President Trump threatened to exact that AG Bondi assured the Senate would not occur on her watch. If prosecutors are genuinely interested in the truth, we are prepared to meet false claims with facts." The Justice Department declined to comment. James is currently suing the Trump administration over cuts to the Department of Health and Human Services' and executive actions pertaining to elections that she says are unconstitutional. At the White House on May 6, the United States attorney general, Pam Bondi, declined to comment on the referral. "Well, I don't want to get involved in something that Pamela is involved with," Trump said, before he lit into James. The president said James is a "disaster for New York" and called her a "horrible, horrible human being" and "total crook." "That's just my opinion," he said. "Pam is going to have to do what she wants. She's a very bad person. She's a very, very bad, a very bad person who campaigned solely on, I'm going to get Donald Trump, over and over again." Trump again said that his comments, made in the presence of his hand-picked attorney general, have "nothing to do with what Pam does. Pam is going to do what's right. She always does." News outlets began reporting that DOJ had opened an investigation into James two days later.
The Independent
18-04-2025
- Business
- The Independent
Trump official urges criminal probe of New York attorney general, who calls request 'retaliation'
In the summer of 2023, New York Attorney General Letitia James helped her niece buy a modest house in Norfolk, Virginia, by becoming a co-borrower on the mortgage loan. A top housing official in the Trump administration has now seized on a document in that transaction to argue that James should be prosecuted for bank fraud, asking the U.S. Justice Department in a letter to open a criminal investigation into the Democrat. The request for an investigation comes as the administration has pursued a campaign of retribution against President Donald Trump 's longtime foes in the legal world. James won a $454 million judgment against Trump last year in a lawsuit claiming he had lied about the value of his assets on financial statements given to banks. James called the allegations against her 'baseless." 'It is nothing more than a headline, nothing more than retaliation against all the actions I have taken successfully against Donald Trump," she said Wednesday in an interview on the New York cable news station NY1. In an April 14 letter to Attorney General Pam Bondi asking for an investigation, U.S. Federal Housing Finance Agency Director William Pulte cited 'media reports' claiming James had falsely listed a home in Virginia as her principal residence, which he hypothesized was an effort to avoid the higher interest rates people often pay for mortgages on second homes. As evidence, Pulte cited a legal form James signed on Aug. 17, 2023, in which she gave her niece, Shamice Thompson-Hairston, the authority to sign documents on her behalf in connection with the sale two weeks later. Those forms are required when a person involved in buying a house can't be present for the closing. That form included a line that says, 'I hereby declare that I intend to occupy this property as my principal residence.' 'At the time of the 2023 Norfolk, VA property purchase and mortgage, Ms. James was the siting Attorney General of New York and is required by law to have her primary residence in the state of New York — even though her mortgage applications list her intent to have the Norfolk, VA property as her primary home,' Pulte wrote in the letter asking for an investigation. James' office, however, shared a partial copy of a loan application in which she appeared to disclose that she didn't intend to live in Virginia. On the application, James was asked the question, 'Will you occupy the property as your primary residence?' She checked the box that said 'no." 'Donald Trump's weaponization of the federal government continues to careen out of control – and now they are using cherry-picked information to attack the Attorney General,' her office said in a statement. On another part of the loan application, James indicated she was applying for joint credit with Thompson-Hairston, who intended to use the home as her primary residence. That kind of arrangement isn't uncommon when parents help their children buy a starter home. Real estate lawyers who spoke to The Associated Press said it was difficult to tell, based on the limited number of documents available publicly, whether anything improper had taken place or whether James had tried to deceive anyone about where she intended to live. One Virginia lawyer told the AP he had never seen a power-of-attorney form before that had a reference to a primary residence. Brooklyn town house subject of scrutiny Pulte also accused James of lying about the number of apartments in a New York City town house she has owned since 2001. Pulte's letter cited a certificate of occupancy issued to a previous owner authorizing up to five living units in the Brooklyn building, where James lives and has rented apartments to some tenants. Multiple other city records indicate that the town house has four units. James has indicated in building permit applications and in mortgage documents for years that the building has four units. Past news articles about the building have also referred to it as having four units. Pulte hypothesized that James had misrepresented the number of units in order to qualify for federally backed mortgages offering interest rates unavailable to the owners of buildings with more than four units. Experts in New York real estate said discrepancies about the number of units in a building aren't uncommon when property changes hands and typically only draw scrutiny from regulators when the change allows an owner to reap some improper advantage, such as skirting rent regulations. 'For regulatory and income-generating purposes, going from five units to four units doesn't really help her,' said Andrew Scherer, a professor at New York Law School focused on housing law. 'It seems highly unlikely that this kind of a difference would in and of itself be legally consequential.' James' office said the building has four units and noted that the certificate of occupancy listing it as having five predated her ownership. City inspection finds no violation Beginning in July 2023, shortly before the start of Trump's civil fraud trial, the city's Department of Buildings began receiving anonymous complaints claiming James had illegally misclassified the property. 'Why is she NOT being prosecuted for fraud and filling false documents when other people have been persecuted for far less crimes,' one complaint read. Inspectors with the city's Department of Buildings have found no violations. During their most recent visit on Wednesday, an inspection report determined the complaint was 'unsubstantiated based on department records.' Trump's lawyers have appealed the judgment that James won against him. The president says he didn't mislead anyone about the value of his properties. ___ Sisak and Offenhartz reported from New York.
