Senate Democrats Grill FHFA Chief Over Crypto Mortgage Plan
Five Democratic senators are scrutinizing the FHFA’s controversial move to explore cryptocurrency’s role in mortgage approvals, raising alarms about financial stability.
Led by Jeff Merkley, the group—including prominent progressives like Elizabeth Warren and Bernie Sanders—sent a letter to FHFA Director William Pulte on Friday, demanding an explanation of his directive to Fannie Mae and Freddie Mac. Pulte had ordered the agencies to draft a plan for considering crypto holdings in mortgage risk assessments without liquidating them.
The senators set an August 7 deadline for Pulte’s response, questioning how the policy would impact the housing market. Fannie and Freddie have been under federal conservatorship since the 2008 subprime mortgage collapse.
