In Brief: American ATM to Buy Conn. Lender for $8M

American ATM Corp., an installer of nonbank automated tellers, has agreed to purchase Fairfield Funding Corp., a warehouse lender and mortgage originator, for about $8 million in cash and securities.

Fairfield Funding Corp.'s wholly owned subsidiary, Fairfield Mortgage Corp., originates mortgages to borrowers of varying credit scores. The Brookfield, Conn., firm expects to originate more than $500 million this year through its six offices in Connecticut, Massachusetts, Pennsylvania, California, New Jersey, and Florida. It estimates it will surpass $900 million in originations next year.

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