Fannie Mae and Freddie Mac Going Full Crypto: Is This Peak Clown World?

Another Day Another Dollar...or Bitcoin?

Alright alright alright… what is going on you beautiful bald bastards! Asmongold here and I just saw the news and honestly I had to put down the Dr. Pepper for a second and rub my eyes. The Federal Housing Finance Agency – try saying that five times fast – is telling Fannie Mae and Freddie Mac to *actually* consider crypto when you're trying to get a mortgage. A mortgage! Are you kidding me? I thought the 'rona was wild but this is straight up clown world.

From Memes to Mortgages

So apparently Director William J. Pulte – no relation to the home builder I presume which is a missed opportunity if you ask me – signed off on this. They want Fannie and Freddie to figure out how to include digital assets in their risk assessments. No need to sell your Shiba Inu for filthy fiat dollars before buying a house. I'm just picturing some dude trying to explain to his loan officer how his Pepe coin collection is totally going to moon and cover the payments. This has disaster written all over it. But hey 'content' right?

Trump's Crypto Dream: Making America the Next El Salvador?

Pulte apparently said that this aligns with Trump's vision of making the US the crypto capital of the world. Well that's one way to own the libs. Seriously though I can already see the headlines: 'Mortgage Crisis 2.0: This Time It's Personal (and Decentralized)'. I mean historically crypto was a no go for mortgages because it's more volatile than my hairline. But now? HODL your house!

The Rise of the Digital Underclass...with Houses?

The FHFA is saying that crypto is an “emerging asset class” that lets you "build wealth outside of the stock market." Yeah like that time I bought that NFT for 10 grand and now it's worth about tree fiddy. But hey who am I to judge? Maybe this will actually help some people get a foot in the door. Or maybe it’ll be another way for the rich to get richer while the rest of us eat ramen and watch the world burn on Twitch.

Terms and Conditions Apply (Always)

Of course there are catches. Your crypto has to be on a US regulated exchange and they want evidence. No using your dodgy Binance account to buy a mansion sorry. Also Fannie and Freddie have to figure out how to account for the volatility. So they're going to 'adjust' things to make sure underwriting standards don't get completely yeeted into oblivion. Sounds legit.

The Future Is Now (and Probably Broken)

So Fannie and Freddie have to come up with these proposals and then send them to the FHFA for approval. Which means…more bureaucracy! Just what we needed. But hey at least it's something to talk about right? Look I'm not saying this is a good idea. I'm not saying it's a bad idea. All I'm saying is…*points at head*…content! Anyway back to Final Fantasy 14. Gotta grind those relics you know how it is. Stay safe out there and don't invest more than you can afford to lose. Even if it means buying a house.