United Wholesale Mortgage, the second largest mortgage lender in the United States, has stopped accepting cryptocurrency. for home loans according to the companyannounceon thursday
earlier in August The company said it would startofferCrypto payment options via pilot program to measure the need for this service This will make it the first lender to do so.
“As we said last quarter, We will be considering cryptocurrency adoption and testing to see if it is a faster, simpler, and cheaper solution,” its CEO Mat Ishbia said in a press release. “Due to rising costs and regulatory uncertainty in the current crypto space, we can conclude that we are not extending beyond the pilot program at this time.”
United Wholesale Mortgage has been experimenting with bitcoin, ether and dogecoin and has worked with various borrowers to assess the crypto lending process and see how it works. and achieved its first cryptocurrency payment in September and five more in October. followCNBC reports.
The 2nd Largest Mortgage Service in the US Announces Stop Accepting Crypto Payments Appeared First on Bitcoin Addict.