Residential mortgage lender United Wholesale Mortgage (NYSE:UWMC) successfully evaluates and accepts the first-ever cryptocurrency mortgage payment in September along with five more crypto mortgage payments in October from borrowers, the company says. These payments are used as a "test-and-learn" process to better assess scaling crypto payments for consumers. However, "due to the current combination of incremental costs and regulatory uncertainty in the Crypto space we've concluded we aren't going to extend beyond a pilot at this time," said UWM President and CEO Mat Ishbia. Still, the company said it will continue to monitor crypto, the use of blockchain and opportunities for future use. Recall in mid-August, UWM had plans to accept crypto, starting with bitcoin (BTC-USD), for mortgage payments in Q3.
