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Wholesale Lender Offers Special Financing for Fannie Mae REOs

California-headquartered ""Kinecta Federal Credit Union"":http://www.LoanKinection.com now provides its brokers and business partners with HomePath mortgages from ""Fannie Mae"":http://www.fanniemae.com.

""HomePath"":http://www.HomePath.com is the GSE's venture for marketing and selling REO properties it takes ownership of after foreclosure, and it offers special financing terms for the purchase of select Fannie Mae-owned properties.

Currently, Kinecta is the only approved credit union in California and one of only five in the nation to offer HomePath mortgages.

""Kinecta is constantly looking for ways to offer more affordable financing options to potential homeowners,"" said Brian Robinett, SVP and chief credit officer of Kinecta Federal Credit Union.

""With HomePath, our business partners can offer borrowers special financing terms on single-family homes, condominiums, and town houses in a variety of neighborhoods,"" Robinett continued. ""It's a great option for virtually anyone looking for a home, from first-time homebuyers to experienced investors.""

Fannie Mae is currently ""offering additional incentives"":http://dsnews.comarticles/fannie-mae-extends-selling-agent-bonus-to-move-reo-properties-2011-06-14 via HomePath, including a 3.5 percent closing cost incentive for borrowers and $1,200 bonus to selling agents. These incentives are valid through October 31.

About Author: Heather Cernoch


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