Fannie Mae Updates Requirements for Virtual Currencies

May 17, 2022

Fannie Mae issued an update on May 4 to its Selling Guide with new requirements for virtual and cryptocurrencies. The new policies went into effect immediately.

The new requirements include:

  • Income paid in the form of virtual currency may not be considered when qualifying a borrower.
  • Assets used to establish continuance for certain income types cannot be in the form of virtual currency.
  • The purchase price of the property and any earnest money deposit may not be designated in virtual currency.
  • The payment used as rental income must be in U.S. dollars.
  • Payment on any installment debt secured by virtual currency must be included in the debt-to-income ratio calculation.

According to the Selling Guide, virtual currency that has been exchanged into U.S. dollars is acceptable for the down payment, closing costs and financial reserves provided

  • there is documented evidence that the virtual currency was exchanged into U.S. dollars and is held in a U.S. or state regulated financial institution, and
  • the funds are verified in U.S. dollars prior to the loan closing.

Contact ALTA at 202-296-3671 or

[eGuide] Access 'The Title Operator's Guide to Implementing ALTA Best Practices' from Qualia.