United Wholesale Mortgage (UWM) – ranking 2nd on the list of major mortgage lenders from the US – is reportedly moving forward with its plan to offer support for crypto-enabled payments in 2021, beginning with BTC. 

Specifically, Head of UWM – Mat Ishbia – reportedly disclosed details of the crypto plans on August 16th, via a conference call discussing the company’s Q2 results, with UWM recorded a $138.7 million net profit for the quarter.

Ishbia reportedly shared his and his firm’s anticipation in being the pioneering force across the US to begin crypto payment support, and further revealed that the development is scheduled to be available later in this quarter, or at the beginning of this year’s final quarter, and the firm will be supporting Bitcoin initially, with facilitation plan for Ether-enabled and others as well. 

“We’re going to walk before we run, but at the same time, we are definitely a leader in technology and innovation and we are always trying to be the best and the leader in everything we do. That’s the plan. Obviously there’s no guarantees — we’re still working through some details,” The CEO additionally remarked. 

UWM reportedly secured the second spot of the most major US-headquartered mortgage lender last year, originating 560,798 loans with the value equivalent to $183 billion in 2020. Quicken Loans is the leading entity across the market, having originated $1.1 million loans equal to a total value of $314 billion.

Crypto utilization seen in real estate acquisition reportedly goes back to seven years ago, when BitPay offered assistance to close the sale of a Lake Tahoe property for $1.6 million in BTC in 2014. Nonetheless, crypto mortgage repayments seem to be a freshly surfaced phenomenon.