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The 227,000-member Kinecta Federal Credit Union has joined the small number of financial institutions approved by Fannie Mae for its HomePath Mortgage program, an effort the organization has launched to help it move some of the thousands of properties it currently holds.

The HomePath Mortgage program allows purchasers of Fannie Mae-owned properties in the HomePath program to have lower down payment options and not face lender-required appraisals or mortgage insurance requirements, the CU said.

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