{"id":8258,"date":"2021-08-19T06:09:49","date_gmt":"2021-08-19T05:09:49","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=8258"},"modified":"2021-08-19T06:09:53","modified_gmt":"2021-08-19T05:09:53","slug":"united-wholesale-mortgage-to-accept-crypto-payments-this-year","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/united-wholesale-mortgage-to-accept-crypto-payments-this-year\/","title":{"rendered":"United Wholesale Mortgage to accept crypto payments this year"},"content":{"rendered":"\n
During a conference call to discuss the company's second-quarter performance, United Wholesale Mortgage<\/a> CEO Mat Ishbia stated that the company intends to accept cryptocurrency payments this year.<\/h5>\n\n\n\n
\"United<\/figure>\n\n\n\n

In a move that will begin this year, United Whole\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>sale Mortgage <\/use><\/svg><\/span><\/a>(UWM), the second largest mortgage lender in the United States, plans to accept cryptocurrency payments, starting with Bitcoin (BTC).<\/p>\n\n\n\n

UWM CEO Mat Ishbia revealed the company's cryptocurrency <\/a>intentions on Monday during a conference call to discuss the company's second-quarter results, which showed a net profit of $138.7 million for the period.<\/p>\n\n\n\n

“We\u2019re excited that hopefully (this year) we can actually execute on that before anyone in the country,” Ishbia stated.<\/p>\n\n\n\n

\u201cWe are evaluating the feasibility and requirements in order to accept cryptocurrency to satisfy mortgage <\/a>payments.\u201d \u2013 @Mishbia15 <\/p>\u2014 United Wholesale Mortgage (@UWMlending) August 16, 2021<\/cite><\/blockquote>\n\n\n\n

On Aug. 16, Ishbia told the Detroit Free Press that the transfer will most likely happen later this quarter or at the start of Q4, adding, “I think we are starting with Bitcoin, but we are looking at Ethereum and others.”<\/p>\n\n\n\n

“We\u2019re going to walk before we run, but at the same time, we are definitely a leader in technology <\/a>and innovation and we are always trying to be the best and the leader in everything we do.\u201d<\/p><\/blockquote>\n\n\n\n

“That\u2019s the plan. Obliviously there\u2019s no guarantees \u2014 we\u2019re still working through some details,\u201d the CEO added.<\/p>\n\n\n\n

In 2020, UWM was the second-largest mortgage lender, originating 560,798 loans for almost $183 billion. Quicken Loans led the group, with $1.1 million loans totaling $314 billion originated.<\/p>\n\n\n\n

The usage of cryptocurrency in real estate transactions has a seven-year history, with BitPay assisting in the sale of a Lake Tahoe house that sold for $1.6 million in BTC<\/a> in 2014, but crypto mortgage repayments appear to be a relatively recent phenomena.<\/p>\n\n\n\n

Matrix Mortgage Global, a Toronto-based mortgage brokerage firm, announced in April that it would accept BTC, Ethereum (ETH), Bitcoin Cash (BCH), and various stablecoins via Bitpay for its services.<\/p>\n\n\n\n

On August 4, Cointelegraph reported that the People's Party of Spain<\/a> filed a bill proposal that would allow property owners to pay mortgages with cryptocurrencies and authorise the real estate sector to utilise their own coin for mortgage acquisitions.<\/p>\n","protected":false},"excerpt":{"rendered":"

During a conference call to discuss the company’s second-quarter performance, United Wholesale Mortgage CEO Mat Ishbia stated that the company intends to accept cryptocurrency payments this year. In a move that will begin this year, United Whole sale Mortgage (UWM), the second largest mortgage lender in the United States, plans to accept cryptocurrency payments, starting […]<\/p>\n","protected":false},"author":13,"featured_media":8264,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[132,128,3861,870],"class_list":["post-8258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-ethereum","tag-mortgage","tag-technology"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/image-204.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/8258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=8258"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/8258\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/8264"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=8258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=8258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=8258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}