Second largest US mortgage lender will accept crypto payments this year

Yes, money launderers and tax evaders would like to continue laundering and evading -- I think the real question is why are we making this easy for them?

Buying property with ill-gotten gains is an extremely common method of money laundering. Having a large hoard of cryptocurrency that you prefer not to liquidate screams "I'm trying to pretend that this isn't a taxable event."

We don't let people pay their mortgages with pre-tax stock gains, why the fuck are we bending over backwards to let people pay their mortgage with cryptocurrency?

United Wholesale Mortgage was the subject of some reddit /r/wallstreetbets pumping earlier this year which then later fizzled out.

I guess they are trying to piggyback off crypto hype to keep up their meme stonk status.

Looks like a SPAC stock too. Never the most reputable...

> Better question - why not?

Because crypto payments are niche and likely come with more hassle (e.g. volatile value, lender needs dollars and has to take on any risk with liquidating bitcoin/other cryptocurrencies). You might as well ask why US mortgage lenders don't accept payments in RMB or Euros.

So my understanding is that you’d owe a set amount in Fiat but you can make payments in crypto. Would you be locked into crypto for payments, at a designated fiat value or designated crypto value?

Because if you borrowed in crypto for a house and then the price of crypto skyrocketed you would be screwed. Seems like a nice option for people trying to short the crypto market, but I doubt this has much viability.

Companies realize they can get a headline by adding crypto as a payment method, but nobody cares anymore. It’s the equivalent of a brick and mortar store accepting Venmo and then gathering everyone in the town to tell them how innovative they are…