From the tempting prospect of mortgage-free homeownership for $1,000-a-month to the launch of a new bitcoin-collateralized mortgage product, digital currencies and blockchain technology are having a major impact on the mortgage industry.
For more on these stories and other developments that are transforming the mortgage landscape, scroll through to read our roundup.
Mortgage product allows borrowers to post bitcoin as collateral
Borrowers who are looking to use bitcoin as collateral for a real estate purchase can now take advantage of a new mortgage product launched by venture-backed fintech Milo Credit. The product allows bitcoin holders to post the digital assets without converting them to dollars.
“We are looking at their crypto, plus other factors that we have in our underwriting, but they don't have to come with dollars,” said Milo Credit CEO Josip Rupena. “That allows them to not have to go out in the conventional world and sell their crypto.”
For some, however, cryptocurrency...
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