United Wholesale Mortgage ditches plan to accept Bitcoin payments

United Wholesale Mortgage ditches plan to accept Bitcoin payments
фото показано с : invezz.com

2021-10-15 13:43

A major US mortgage lender, United Wholesale Mortgage, came up with a plan to start accepting Bitcoin payments earlier this year, in August. It was the first company of this kind to announce opening its doors to crypto. However, its CEO, Mat Ishbia, now announced that the company has decided not to go through with the plan.

According to Ishbia, the company conducted its tests, and it decided that it is not worth it. There is too much regulatory uncertainty in the crypto space, which, in combination with incremental costs, make the entire initiative more trouble than it is worth. Ishbia said that the firm will not go beyond the pilot at this time, leaving the option of a later introduction of crypto payments open.

The company apparently tried out three different cryptocurrencies — Bitcoin (BTC/USD), Ethereum (ETH/USD), and Dogecoin (DOGE/USD). They also tested the system with multiple different borrowers in order to check the functionality of the process.

The pilot worked, but there was no demand

The company successfully accepted its first crypto mortgage payment in September, followed by five more in October, thus far. However, they noticed that there was no demand for this kind of payment method. Borrowers did like it, according to Ishbia, and many thought it was cool. However, the option to make payments in crypto “wasn’t a driver.”

While unfortunate, the decision is quite understandable, given the circumstances, and it shows that many in the industry still treat cryptocurrencies as an investment instead of a replacement for money. Especially now, with the growing prices, everyone seems to be more interested in HODLing rather than spending coins.

On the positive side, US officials, including the Treasury Secretary Janet Yellen as well as the SEC chair Gary Gensler, said that there are no plans to impose restrictions regarding crypto trading or payments.

The post United Wholesale Mortgage ditches plan to accept Bitcoin payments appeared first on Invezz.

origin »

Plancoin (PLAN) на Currencies.ru

$ 0.0015893 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: -3.82 %
Cегодня L: $0.0015893 - H: $0.0015893
Капитализация $42.871k Rank 99999
Доступно / Всего 26.975m PLAN / 35m PLAN

mortgage bitcoin payments united plan wholesale company

Источник: invezz.com

mortgage bitcoin → Результатов: 46


Фото:

$1 Trillion in Housing Bonds: US Real Estate Crisis Held Back by Fed’s Mortgage Purchases

The U.S. real estate market is facing a conundrum, as there’s now a tidal wave of renters who can’t pay rent and a massive number of mortgage defaults stacking up like never before. Amid the looming real estate chaos, the Centers for Disease Control and Prevention (CDC) enacted public health emergency powers to stop landlords […] The post $1 Trillion in Housing Bonds: US Real Estate Crisis Held Back by Fed’s Mortgage Purchases appeared first on Bitcoin News.

2020-9-3 01:30


Is The ‘King Of The Geeks’ The Creator Of Bitcoin? The Argument About Linus Torvalds

Is The ‘King Of The Geeks' The Creator Of Bitcoin? The Argument About Linus Torvalds A dramatic over extension in the volume of lending, the integration of sub-prime mortgages and other toxic assets into Mortgage Backed Securities (MBS') were not components that came up as a surprise during the recession of 2008. On May 3rd, […]

2019-7-29 21:51


Фото:

The Next Big Financial Meltdown Is Around the Corner, Many Voices Warn

“The economy is looking great,” how many times have they told you that? And why do you usually hear it when you are late on a mortgage payment or during a downsizing purge at your company? Relying on your senses is always a safer bet than trusting the wishful thinking of those who invested political […] The post The Next Big Financial Meltdown Is Around the Corner, Many Voices Warn appeared first on Bitcoin News.

2019-7-25 19:00


The Best Way to Know Bitcoin is a Conservative Investment

Before looking at the best way to know bitcoin is a conservative investment (a very impressive 10 year bitcoin trend that has many investors pouring money into bitcoin)… Here’s the best way to know bitcoin is not a conservative investment, but a terrible get rich quick scheme, “probably rat poison squared” even, as Warren Buffet calls bitcoin: Best Way to Know Bitcoin Is Rat Poison Squared You see bitcoin or another cryptocurrency’s ATH (All Time High) prices going higher and higher, and you think now’s not a bad time for a second mortgage on your house.

2019-3-6 06:04


Фото:

Lenders May Deny Your Mortgage Application if You Sold Bitcoin in the Past

Over the past year, cryptocurrencies like bitcoin have gained in value and some people have ‘cashed out’ their digital assets in order to purchase cars or a new home. However, some people who have sold cryptocurrencies in the past may have a hard time getting a home loan even though they have the funds to […] The post Lenders May Deny Your Mortgage Application if You Sold Bitcoin in the Past appeared first on Bitcoin News.

2018-7-10 03:05


Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Дата-центры, связанные с ИИ могут стать причиной пожаров в электросетях США

Распространение питающих искусственный интеллект дата-центров может привести к проблемам в энергосистеме США. Об этом говорится в новом отчете Bloomberg. Агентство обнаружило, что больше половины домохозяйств, в которых фиксируются наиболее сильные искажения электропитания, живут в пределах 32 км от крупных ЦОД.

Sonic Labs and Immunefi to offer $2m bug bounty program

Sonic Labs, the team behind the Ethereum Virtual Machine (EVM) layer-1 blockchain Sonic, has partnered with Immunefi, a leading bug bounty platform, to launch a $2 million bug bounty program. In its announcement on X, Sonic Labs said it had…

Real estate AI platform Janover to accept crypto payments

Janover, a publicly-traded real estate platform tapping into artificial intelligence, is set to accept Bitcoin and crypto for payments. The Nasdaq-listed company announced on Dec. 30 that it will accept payments in Bitcoin (BTC) and top altcoins Ethereum (ETH) and…

Christmas gift as MOVE, BGB, ZEC lead altcoin gainers

Cryptocurrencies, including Movement, Bitget Token and Zcash, celebrated massive gains as Santa’s gifts showed in significant price rallies on Dec. 25. With Bitcoin (BTC) reclaiming some footing after trading to near $92,000 on Dec. 23, the gains to above $98k…

Crypto taxes: What does regulation look like around the world?

Cryptocurrencies are becoming increasingly integrated into the modern financial reality, and like any other asset, they are subject to taxes. As a relatively new and rapidly growing asset class, cryptocurrencies attract increasing interest from investors and governments. As the global…