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UWM, a mortgage lender in the United States, intends to accept Bitcoin payments

According to the Detroit Free Press, United Wholesale Mortgage intends to accept cryptocurrency payments later this year, presumably bitcoin.

In the beginning, the Michigan-based lender will only accept bitcoin, but it is looking into ether and other cryptocurrencies. The University of Wisconsin-Madison wants to be the first to market with their crypto service.

Last quarter, UWM lent $59.2 billion throughout the country. On Monday, Ishbia revealed UWM's crypto policy.

Paying down a mortgage using cryptocurrencies isn't new. Earlier last month, a Spanish opposition party proposed similar payouts. Other initiatives would use bitcoin as mortgage and loan collateral.

Requests for comment from UWM went unanswered.

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