Mortgage lending company, United Wholesale Mortgage, is set to begin accepting Bitcoin mortgage payments. A Detroit Free Pass publication specifies that the company intends to start doing this by the end of this year.
Upon kick off, United Wholesale Mortgage would be the first major nationwide mortgage lender to accept Bitcoin, the CEO said during an earnings call with Wall Street analysts. In an interview, Ishbia added that the company is also looking into other cryptocurrencies. Ishbia said:
“I think we’re starting with Bitcoin, but we’re looking at Ethereum and others. We’re going to walk before we run, but at the same time, we are definitely a leader in technology and innovation and we are always trying to be the best and the leader in everything we do.”
He however added that although that is UWM’s current planning, there are little to no guarantees about the roll out.
As with other industries, the mortgage sector is also waking up to the crypto space. In a March announcement, Canadian digital payments company Mogo said its cashback rewards program would be extended to include mortgages.
Mogo founder and CEO David Feller said that the company is happy to let customers earn Bitcoin while providing the estimated $1.7 trillion Canadian mortgage market with much-needed solutions.
Image Credits: Pixabay
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