June 14, 2024

The second largest U.S. mortgage company, Crypto, expects to accept Bitcoin later this year

2 min read
© Reuters. The second largest U.S. mortgage company expects to accept Bitcoin later this year

United Wholesale Mortgage (UWM), formerly known as United Shore Financial, is the second largest US mortgage lender, lending nearly $ 183 billion by 2020 and announcing that it will begin accepting payments by the end of 2021.

According to the Detroit Free Press report, the next move was first revealed by the company’s CEO Matt Ishbia during a revenue conference call on Monday.

“We hope to be able to implement this before anyone else in the country this year,” he said.

UWM initially planned to add support for Bitcoin, but it and other altcoins are also on the table, Ishbia said.

“I think we’re starting with Bitcoin, but we’re looking at Ethereum and so on.

Meanwhile, friendly companies and sites Cryptocurrencies The mortgage sector has also expanded over the past two years.

“Unlike traditional reward schemes, Bitcoin rewards have the unique characteristics of an asset class, which can increase in value over time – $ 3,100 invested in Bitcoin 5 years ago, and today is over $ 350,000,” said David Feller, CEO of Mortgage Mogo. .

In 2019, actor Brock Pierce also made headlines after taking out the world’s first Bitcoin-backed mortgage to buy a home in Amsterdam.

Borrowing against one’s cryptoactives offers options when you want to buy property. I was able to keep my cryptocurrency and settle the transaction with Fiat, ”said Pierce.

By cryptography

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