UWM hopes to become first US mortgage lender to accept crypto payments, gives nod to bitcoin

United Wholesale Mortgage (UWM) is hoping to become the first US mortgage company to accept cryptocurrency to satisfy mortgage payments

The Michigan-based UWM hopes to start accepting bitcoin in Q3, and it is currently weighing other digital currencies like ether.

CEO Mat Ishbia said during UWM's second-quarter earnings call that they have evaluated the feasibility, and we’re looking forward to it.

It is unclear whether UWM, the second-biggest mortgage lender in the US after Quicken, will hold on to the cryptocurrency it receives or convert it to fiat at the transaction point.

UWM's push into accepting cryptocurrency comes at a time of heightened scrutiny of crypto from all sides in the US.

UWM made its public debut in January via a special purpose acquisition merger.