{"id":353159,"date":"2021-10-15T12:15:57","date_gmt":"2021-10-15T09:15:57","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/second-largest-us-mortgage-lender-uwm-dumps-bitcoin-payment-plans\/"},"modified":"2021-10-15T12:15:57","modified_gmt":"2021-10-15T09:15:57","slug":"second-largest-us-mortgage-lender-uwm-dumps-bitcoin-payment-plans","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/second-largest-us-mortgage-lender-uwm-dumps-bitcoin-payment-plans\/","title":{"rendered":"# Second largest US mortgage lender UWM dumps Bitcoin payment plans"},"content":{"rendered":"<p>&#8220;<strong># Second largest US mortgage lender UWM dumps Bitcoin payment plans <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvNmU3ZjliMjktMTAxYy00OWNlLTg4MGEtMTNkNzY1MzMxNTk0LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>United Wholesale Mortgage (UWM), one of the largest wholesale and purchase lenders in the United States, is ditching Bitcoin (BTC) payment plans after running a test.<\/p>\n<p>UWM officially <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.businesswire.com\/news\/home\/20211014005141\/en\/United-Wholesale-Mortgage-Completes-First-Ever-Cryptocurrency-Mortgage-Payment-Transactions\">announced<\/a> Thursday that the company has successfully conducted its first-ever cryptocurrency mortgage pilot, accepting five crypto payments in October and one in September.<\/p>\n<p>The firm did not disclose more information about the test, neither specifying what cryptocurrencies were part of the pilot nor what companies have assisted the firm in completing it.<\/p>\n<p>\u201cWe\u2019re proud to be the first mortgage lender to successfully pilot this <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> and further demonstrate that we\u2019re innovating for the long term,\u201d UWM CEO Mat Ishbia stated.<\/p>\n<p>But despite running the test successfully, the mortgage company has decided to stay away from Bitcoin payments, citing associated issues like regulation:<\/p>\n<blockquote><p>\u201cDue to the current combination of incremental costs and regulatory uncertainty in the Crypto space we\u2019ve concluded we aren\u2019t going to extend beyond a pilot at this time.\u201d<\/p><\/blockquote>\n<p>UWM noted that the pilot process has helped the firm learn about crypto payment transactions and prepared the company to make it available \u201conce cryptocurrency transactions become something that will propel the organization forward.\u201d The firm noted that the lender will continue monitoring developments in the crypto and blockchain industry for potential use in the future.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bacon Protocol launches decentralized mortgage platform<\/em><\/strong><\/p>\n<p>The second-largest mortgage lender in the United States, UWM broke the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> on its plans to experiment with crypto mortgage payments in August, looking to test mortgage payments in cryptocurrencies like Bitcoin and Ether (ETH). The company disclosed its plans in conjunction with UWM\u2019s Q2 financial results, with the firm posting roughly $140 million in net profits. At the time of writing, UWM has not announced its Q3 results.<\/p>\n<p>Cointelegraph reached out to UWM with additional queries regarding the matter.\u00a0This article will be updated pending new information.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/second-largest-us-mortgage-lender-uwm-dumps-bitcoin-payment-plans\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Second largest US mortgage lender UWM dumps Bitcoin payment plans &#8221; United Wholesale Mortgage (UWM), one of the largest wholesale and purchase lenders in the United States, is ditching Bitcoin (BTC) payment plans after running a test. UWM officially announced Thursday that the company has successfully conducted its first-ever cryptocurrency mortgage pilot, accepting five&#8230;<\/p>\n","protected":false},"author":1,"featured_media":353160,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvNmU3ZjliMjktMTAxYy00OWNlLTg4MGEtMTNkNzY1MzMxNTk0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74863,74889,74355,117,71226,67874],"class_list":["post-353159","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrencies","tag-payments","tag-adoption","tag-business","tag-real-estate","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/353159","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=353159"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/353159\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/353160"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=353159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=353159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=353159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}