The 227,000-member Kinecta Federal Credit Union has become one of the financial institutions that Fannie Mae has authorized to provide mortgages to the purchasers of Fannie's HomePath properties.

HomePath properties are those that the secondary mortgage market giant wound up owning after the housing crash and crisis that it has made available to the public at substantially reduced prices. HomePath mortgage providers are those that are authorized to write mortgages for the HomePath properties under terms that are generally more favorable to borrowers than conventional loans but might not be as beneficial to some borrowers as loans backed by the Federal Housing Administration or Veterans Administration, according to housing experts.

Only 62 financial institutions and other mortgage firms nationwide have been named as HomePath mortgage providers and only four credit unions. In addition to Kinecta, the 342,000-member, $2.9 billion Desert Schools Credit Union is listed as HomePath mortgage provider for properties in Arizona and the 3.7 million member, $44.1 billion Navy Federal Credit Union is listed as eligible to provide HomePath Mortgages around the country. The 173,000 member, $2.4 billion Lake Michigan Credit union is also listed as both a provider of HomePath mortgages and HomePath renovation loans.