Last week, a UMortgage originator took to LinkedIn to announce a unique loan he was working on — a $4 million non-QM loan for a borrower using cryptocurrency through an off-exchange XRP wallet to qualify. Industry observers say the deal highlights both the potential and the challenges of bringing digital assets into housing finance.

The development comes after Federal Housing Finance Agency Director Bill Pulte issued a directive to Fannie Mae and Freddie Mac in June to begin preparing for the use of crypto in single-family mortgages.

Tyler Hodgson, UMortgage’s executive vice president of growth and the man behind details ⇒

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