Federal Housing Finance Agency Director Bill Putle said his department will review how crypto assets might be included in the income checks by entities such as Fannie Mae and Freddie Mac. Pulte owns up to $1 million in cryptocurrency and holds stakes in crypto firm MARA Holdings and Elon Musk’s X. Fannie Mae and Freddie Mac require that virtual currency only be used for “closing and reserves if it has been exchanged into U.S. dollars and is held in a U.S.- or state-regulated financial institution. There must be sufficient documentation to verify that the funds originated from the borrower’s cryptocurrency account.” Meanwhile, there is a “rise of bitcoin as a form of collateral in loans issued by big banks — used as inputs to determine applicants’ net worth and liquidity, and by extension, loan terms.”