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-0.000426621160409623 -0.000426621160409623 0.000853242320819094 0.00127986348122872 0.000426621160409623 0.000853242320819094 0.00255972696245728 0.00255972696245728
Stock impact report

Why a $778 Billion Mortgage Lender Is Taking Bitcoin and Ethereum Seriously Now [Yahoo! Finance]

Rithm Capital Corp. (RITM) 
Company Research Source: Yahoo! Finance
The firm—which serviced a $778.3 billion portfolio of 3.7 million loans, as of last year—recently signaled that it would begin assessing both cryptocurrencies for mortgage qualification. Last week, it billed itself as the first major provider of mortgages in the U.S. to do so. That means the company intends to view Bitcoin and Ethereum as reserves that a homeowner could theoretically dip into to meet their mortgage obligations. Typically, applications ask prospective borrowers to report liquid assets like cash, as well as ones like stocks. In an interview with Decrypt, Newrez President Baron Silverstein said the move was aimed at Gen Z, noting that “future home buyers have a higher and higher percentage of crypto assets as part of their investments,” relative to generations that came before them. “We're looking to help first-time home buyers,” he added. In recognizing borrowers' digital assets, Newrez plans to apply a “haircut,” valuing Bitcoin and Ethereum at a discount to t Show less Read more
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