This U.S Lender Is Working On Accepting Crypto For Mortgage Payments
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 […]
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United Wholesale Mortgage previously announced plans to test Bitcoin and Ether for mortgage payments in August. United Wholesale Mortgage (UWM), one of the largest wholesale and purchase lenders in the United States, is ditching Bitcoin (BTC) payment plans after running a test.UWM officially announced Thursday that the company has successfully conducted its first-ever cryptocurrency mortgage pilot, accepting five crypto payments in October and one in September.The firm did not disclose more information about the test, neither specifying what cryptocurrencies were part of the pilot nor what....
Speaking during a conference call about the firm’s Q2 results, United Wholesale Mortgage CEO Mat Ishbia outlined plans to accept crypto payments this year. United Wholesale Mortgage (UWM), the second-largest U.S.-based mortgage lender is planning to accept cryptocurrency payments this year starting with Bitcoin (BTC).UWM CEO Mat Ishbia revealed the crypto plans on Monday in a conference call regarding the firms’ Q2 results — with the firm posting a $138.7 million net profit for the quarter. "We’re excited that hopefully (this year) we can actually execute on that before anyone in the....
Business consulting firm Zventus announce a blockchain lab designed to revolutionize the mortgage sector. Global business provider Zventus announced a new blockchain initiative on Monday titled “Mortgage Blockchain Lab.” The proposal is meant to collate the resources of several mortgage experts, technology firms and academic institutions to collaborate on blockchain research and development focused on the mortgage sector. The California-based firm, whose product and service offering spans a broad business spectrum including business consultancy, human resource strategy and tech support,....
Blockchain technology and smart contracts are helping to expand the residential mortgage market beyond the grip of big banks and governments. Decentralized mortgage lender Bacon Protocol has minted its first seven mortgages as nonfungible tokens, or NFTs, offering investors and borrowers new options for accessing the residential mortgage market. The interest rate for each NFT mortgage ranges from 1.5% to 3.1% on properties in four U.S. states, the company disclosed Wednesday. That’s the interest rate borrowers pay after minting their mortgage through Bacon Protocol. By comparison, the....
The first and the largest cryptocurrency by market capitalization, Bitcoin, gets more adoption from reputable companies. Unified Wholesale Mortage, the US mortgage lender, aspires to include digital assets as a payment option by 2021. Its first adoption in the plan is Bitcoin, though it will subsequently explore the potential of other cryptocurrencies like Ethereum. Similarly, […]