Federal housing director orders crypto to count for mortgages, and now people are clowning on it with "fartcoin" memes.
In a move that instantly set off a wave of online mockery, Federal Housing Director William Pulte this week directed mortgage giants Fannie Mae and Freddie Mac to "consider cryptocurrency" as part of single-family loan applications. The idea, aimed at aligning with President Trump’s push to make America "the crypto capital of the world," has been met with everything from memes to skepticism. This is especially thanks to one internet favorite: Fartcoin.
Housing policy meets fartcoin memes
Pulte announced the directive on X. "After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage. SO ORDERED," he wrote, attaching a photo of the official memo.
The order, issued through the Federal Housing Finance Agency (FHFA), specifically instructs the agencies to only consider cryptocurrencies "evidenced and stored on a U.S.-regulated centralized exchange."
Critics immediately pointed out the vagueness of the directive. It did not name specific coins like Bitcoin or Ethereum, even though Trump previously endorsed both via a post on Truth Social as key parts of a planned "crypto strategic reserve." He also mentioned Solana, Cardano, and XRP as part of that imagined reserve back in March.
What is fartcoin?
Fartcoin is a meme coin that is known to be particularly volatile. These coins often start as jokes and only later become speculative assets in crypto circles. As Investopedia explained, "Meme coins are highly speculative and driven by social media hype rather than intrinsic value." The website added that they are very common "pump and dump" coins, made by the creator for quick cash before their value plummets to nothing.
When news broke that mortgage buyers were being told to "consider cryptocurrency," the jokes came quickly. Folks on social media imagined borrowers walking into a bank with a straight face, saying their down payment was backed by fartcoin. Others joked about needing to list their meme coin holdings on loan applications.
The satire may be funny, but it also raises valid questions. Even if crypto becomes a formally recognized asset in mortgage risk assessments, how will agencies determine its long-term value? Will they restrict this order to block meme coins from being included?
Serious policy, unserious response
Despite online mockery, this announcement aligns neatly with Trump’s broader pro-crypto stance during his second term. His campaign and administration have increasingly embraced digital assets. As a result, federal agencies are being nudged into modernizing their policies.
Still, many housing and finance experts remain wary. Cryptocurrency, for all its hype, remains a volatile and unregulated market. Tying it to mortgages brings high risk along with potential reward. Even with the restriction to U.S.-regulated exchanges, the measure leaves many money-savvy people scratching their heads.
For now, the directive is just that: an instruction to "prepare a proposal." No one is buying a house with fartcoin tomorrow. But the fact that meme coins are even entering mortgage conversations shows just how far the crypto conversation has gone and how absurd it sometimes sounds.
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