US lender Rate unveils mortgage program recognizing crypto holdings

• US lender Rate unveils mortgage program recognizing crypto holdings The nationwide RateFi product allows borrowers to count crypto holdings toward mortgage underwriting requirements without selling their assets. • Cointelegraph in your social feed US mortgage lender Rate has launched a nationwide program that allows qualified borrowers to use verified cryptocurrency holdings to help meet underwriting requirements without liquidating their assets, marking a formal step toward integrating digital assets into traditional home financing. • The product, called RateFi, operates within the lender’s existing non-qualified mortgage framework and permits borrowers to count verified crypto assets as qualifying reserves and, in some cases, as an income source. • Kate Amor, EVP and head of enterprise products at Rate, told Cointelegraph that for underwriting purposes, RateFi assesses digital asset holdings through a proprietary valuation framework that factors in market price, liquidity and asset-specific volatility. • The approach enables certain crypto assets to count toward borrower qualification without being liquidated, while still applying traditional mortgage risk standards. • However, any digital assets used for a down payment or closing costs must still be converted to cash.

Article Summaries:

• US mortgage lender Rate has introduced RateFi, a nationwide program that lets qualified borrowers use verified cryptocurrency holdings as qualifying reserves-and in some cases income-without liquidating the assets. The service operates within Rate’s existing non‑qualified mortgage framework and applies a proprietary valuation model that considers market price, liquidity and volatility. Only high‑liquidity large‑cap cryptocurrencies and US‑dollar‑backed stablecoins held with approved custodians are eligible, and any crypto used for down‑payment or closing costs must still be converted to cash. Rate emphasizes AML/KYC compliance and cites housing‑affordability pressures, especially among younger buyers, as a key driver for the initiative.

Sources:

• https://cointelegraph.com/news/us-lender-rate-unveils-mortgage-program-recognizing-crypto-holdings?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound