United Wholesale Mortgage (UWM) – a leading mortgage provider in the USA – has decided to stop allowing its customers to settle payments in cryptocurrencies, citing “regulatory uncertainty” in the industry as a reason.
Change of Heart
In August, the Michigan-based wholesale lender – United Wholesale Mortgage – announced that clients could pay for home loans in Bitcoin and thus became the first major US mortgage lender to adopt digital assets as a payment method. Later on, it added Ethereum and Dogecoin as options, too.
“We’re proud to be the first mortgage lender to successfully pilot this technology and further demonstrate that we’re innovating for the long term,” Mat Ishbia – President and CEO of UWM – said back then.
According to a CNBC report, though, UWM has suspended its cryptocurrency offering after only two months. Ishbia revealed that during this period, the customer demand was not on the necessary level as there was only one mortgage payment in Septem
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