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Bitcoin is now available from mainstream financial managers. Suddenly, it’s a significant part of U.S. investment and retirement portfolios. So, bitcoin is joining real estate as an asset class.
At this point, the leading cryptocurrency can influence the costs of housing in some markets. Its rise even allows some people to buy their first homes.
Let’s take a closer look.
Continue reading “Bitcoin Creating New Home Buyers? Why We’re Watching the Crypto Effect on Real Estate Markets”
October 31 was a spooky day for many. A cyberattack impacted millions of Mr. Cooper mortgage customers. Mr. Cooper is the biggest non-bank mortgage service provider in the United States. Its borrowers were unable to transfer last month’s mortgage payments by their due date.
A week later, on November 7, business consultant and popular YouTube influencer CryptoWendyO posted a video describing “How Crypto Can Solve the Alarming Issue in Mortgages.” The media didn’t cover the Mr. Cooper data breach, said Wendy. And the company, under SEC rules, didn’t have to notify borrowers for 30 days. But word got out through TikTok.
On November 9, Forbes Advisor reported on “a new headache”: Mr. Cooper customers’ personal data was exposed in the attack. A press release from Mr. Cooper announced that the company was “working around the clock with cybersecurity experts to resolve this issue as soon as possible.” The company promised to “help resolve any negative credit reporting tied to the delay in mortgage payments.” Yikes.
And Forbes Advisor stated: There’s no way to ensure that data held by your mortgage provider or other financial company will be kept safe in the event of a cyberattack. Yikes again.
Continue reading “Mr. Cooper Mortgage Payment System Breached. Are Digital Currencies the Solution?”