Coinbase and Better Home & Finance debut the first Fannie Mae-conforming crypto-backed mortgage, offering 60% LTV for Bitcoin with no margin calls, but requiring relinquishing private keys. FHFA Director Pulte's push draws conflict-of-interest allegations.
Coinbase and Better Home & Finance have issued the first Fannie Mae-conforming crypto-backed mortgage. Borrowers get only 40% of BTC's market value as collateral with no margin calls. The product stems from FHFA Director Pulte's initiative, raising conflict-of-interest concerns.
Coinbase and Better.com introduce crypto-backed mortgages using BTC (250% collateral) and USDC (125%) for home purchases, avoiding capital gains tax. The FHFA-compliant product targets the $18.5 trillion mortgage market, with Better.com stock rising 5.41%.
Coinbase and Better Home & Finance are set to launch a crypto-collateralized mortgage program in summer 2026, allowing borrowers to use Bitcoin or USDC as collateral for down payments on Fannie Mae-backed loans. The move follows FHFA guidance to incorporate crypto assets into mortgage risk assessment, with other lenders like Newrez already following suit, though some lawmakers remain concerned about volatility risks.
