Weiss Ratings issues warning over crypto mortgage risks
Weiss analysts are wary over the usage of volatile crypto assets as collateral for long-term property loans. Florida-based ratings and research firm Weiss Ratings has fired out a warning over the risks of crypto mortgages amid the current economic climate in the United States. The company paid particular focus to Milo, a digital banking startup from Miami that offers 30-year mortgages backed by Bitcoin (BTC), Ethereum (ETH), or stablecoins as collateral. The firm requires zero down payments, and its loan rates vary between 3.95% and 5.95%.In the May 3 report, Weiss analyst Jon D. Markman....
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A report published on May 2 by the rating agency Weiss Ratings warns that crypto-backed mortgages “spell risk.” Weiss editor Jon D. Markman said backing a mortgage with crypto is an “interesting strategy,” but stressed that during these market conditions “investors should be skeptical.” Weiss Ratings Editor Doesn’t Believe Crypto and Mortgages Mix According to the editor at Weiss Ratings, Jon D. Markman, lenders who allow people to use crypto to back a mortgage might be adding more risk to current market conditions. Markman uses the firm....
Weiss Crypto, the subsidiary of financial ratings firm Weiss Ratings slammed Cardano’s partnership with Confirm, describing it as a “bad move all around.” Cardano founder Charles Hoskinson has responded to criticism over The Cardano Foundation’s partnership with Confirm, saying it was necessary for adoption of ADA. The Cardano Foundation announced its partnership with the blockchain analytics provider on Aug. 24, which will see Confirm’s analytics being utilized to ensure compliance with frameworks such as the 6th Anti Money Laundering Directive and Financial Action Task Force’s....
A new partnership between Cardano and blockchain-based firm Coinfirm has drawn criticism from its community. The Cardano-Coinfirm partnership will enable authorities to track ADA transactions on the blockchain from as far back as when it was first created. This, according to the press release, will enable the apprehension of bad actors and prevent illegal transactions from being carried out on the platform. Complying with anti-money laundering (AML) regulations within regulations. Related Reading | Hoskinson Celebrates Ethereum Smart Contracts On Cardano, How This Company Enables It....
Eric Weiss joined the "Bitcoin Magazine Podcast" to discuss BTC in 2014, his Bitcoin investment fund and onboarding Michael Saylor.
Michigan-based United Wholesale Mortgage (UWM) said it plans to accept crypto for payments before 2021 ends. This would make it the first major U.S mortgage lender to offer this service. The crypto industry has arguably struggled to find its feet as far as mainstream use cases are concerned. That by no means reflects the significant […]