‘A bag of fartcoin’: US federal housing’s push to consider cryptocurrency for mortgages sparks ridicule

US president Donald Trump has been pretty clear on his love of cryptocurrency since entering the White House for the second time, but now, a directive issued this week on mortgages and crypto has sparked ridicule, as the Republican’s administration opens the door to cryptocurrency being a consideration in people’s mortgage applications.

Allow us to explain…

Federal housing director William Pulte orders mortgage buyers to “consider cryptocurrency” as an asset for single-family loans

US president Trump previously said he wants to make America the “crypto capital of the world”, and in line with that, the director of federal housing William Polte issued an order to mortgage buyers Fannie Mae and Freddie Mac on Wednesday to “prepare their businesses to count cryptocurrency as an asset for a mortgage”.

The document from the Federal Housing Finance Agency (FHFA) boss, shared by Polte to Twitter/X, reads: “Whereas, cryptocurrency is an emerging asset class that may offer an opportunity to build wealth outside of the stock and bond markets.

“Now therefore, the US Federal Housing FHFA, as conservator, hereby directs such Enterprise to prepare a proposal for consideration of cryptocurrency as an asset for reserves in their respective single-family mortgage loan risk assessments.

“Each Enterprise is directed to consider only cryptocurrency assets that can be evidenced and stored on a US-regulated centralized exchange subject to all applicable laws.”

Wait, so can fartcoin be considered in my mortgage application?

If that’s the first time you’ve heard of that word, fartcoin, like Dogecoin, is a ‘meme coin’ – a cryptocurrency that originated from an internet meme, essentially.

Polte’s order doesn’t mention specific cryptocurrencies such as bitcoin (BTC) and Etherium (ETH), but back in March, Trump took to Truth Social to discuss his plans for a “crypto strategic reserve” - which includes XRP, Solana (SOL) and Cardano (ADA).

He later added: “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum!”

So no, probably not.

But that hasn’t stopped the memes…

Many Twitter/X users began to imagine a scenario where an individual has to explain that their mortgage was “backed by fartcoin”:

And banks approving loans based on the memecoin:

Or, as one Twitter/X user put it: getting a loan approved based on a person’s “bag of Fartcoin”:

Another joked that employees at Freddie Mac will now have to determine “if an unemployed teenager has enough fartcoin to secure a mortgage”:

Why not read…

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