Economist Peter Schiff is sounding the alarm over a new housing finance initiative. The plan allows borrowers to use digital assets for home purchases. Schiff argues the move creates a “free ride” for crypto holders at the expense of the public.
The Crypto-Collateral Structure
Fannie Mae (OTC:FNMA) is entering the crypto-backed mortgage space through a strategic partnership. Better Home & Finance Holding Co. (NASDAQ:BETR) and Coinbase Global Inc. (NASDAQ:COIN) lead the rollout.
Under the program, borrowers obtain a conventional mortgage for the property. A separate second loan is secured by Bitcoin (CRYPTO: BTC) or USDC custodied with …Full story available on Benzinga.com
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