posted on August 20, 2021 08:42
Starting later this year, U.S. homebuyers will have the option to pay for their mortgage in bitcoin.
United Wholesale Mortgage, which made its public debut in January via a special purpose acquisition (SPAC) merger, announced plans this week to accept cryptocurrency for home loans, in what is being billed as a first for the national mortgage industry.
“We’ve evaluated the feasibility, and we’re looking forward to being the first mortgage company in America to accept cryptocurrency to satisfy mortgage payments,” CEO Mat Ishbia said in the company’s second quarter earnings call on Monday.
“That’s something that we’ve been working on, and we’re excited that hopefully, in Q3, we can actually execute on that before anyone in the country because we are a leader in technology and innovation.”
The Michigan-based mortgage company confirmed to CNBC that it’s aiming to start by accepting bitcoin, though UWM is in the process of evaluating ether and other cryptocurrencies as well.