New government rules allow Crypto to be used for mortgage collateral. At the same time Crypto just hit its lows for the year plunging 52% over the last year while the S&P return is about + 24%. Should lenders accept crypto for mortgages? How does this impact lending risk? Does Fairview Accept Crypto?
If you missed my recent interview with Mortgage Professional America on crypto mortgages, it is a must read. Here are some highlights:
Glen Weinberg, COO and partner of Fairview Commercial Lending, said his firm has been asked to do crypto mortgages before. He has turned them all down.
“We’ve been asked to do a bunch of crypto mortgages, but I won’t touch it,” Weinberg told Mortgage Professional America. “It’s just so volatile. You can have huge changes from day to day. I’m not in the hedging risk. I tell our borrowers, I don’t care how you get us the money, as long as it’s green. Don’t care how you get it. But no alternative assets. It’s just got to be cash or dollar-denominated. There’s just too much volatility.”
Additional Reading/Resources:
What the latest inflation upsurge means for the mortgage market | Mortgage Professional
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Glen Weinberg personally writes these weekly real estate blogs based on his real estate experience as a lender and property owner. I’m not an armchair reporter/writer. We are an actual private lender, lending our own money. We service our own loans and own commercial and residential real estate throughout the country.
My day job is and continues to be private real estate lending/ hard money lending which enables me to have a unique perspective on the market. I don’t accept any paid sponsorships or ads on my blog to ensure accurate information. I’ve been writing this for almost 20 years and have over 30k subscribers. Please like and share my blogs on linkedin, twitter, facebook, and other social media and forward to your friends 😊. I would greatly appreciate it.
Fairview is a hard money lender specializing in private money loans / non-bank real estate loans in Georgia, Colorado, and Florida. We are recognized in the industry as the leader in hard money lending/ Private Lending with no upfront fees or any other games. We fund our own loans and provide honest answers quickly. Learn more about Hard Money Lending through our free Hard Money Guide. To get started on a loan all we need is our simple one page application (no upfront fees or other games). Learn how to find a reputable hard money lender and why Fairview is the best hard money lender for investors.
Written by Glen Weinberg, COO/ VP Fairview Commercial Lending. Glen has been published as an expert in hard money lending, real estate valuation, financing, and various other real estate topics in Bloomberg, Businessweek ,the Colorado Real Estate Journal, National Association of Realtors Magazine, The Real Deal real estate news, the CO Biz Magazine, The Denver Post, The Scotsman mortgage broker guide, Mortgage Professional America and various other national publications.
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