Finance of America Mortgage revealed a new unit that will target small financial institutions. Included in the offering are correspondent acquisitions.

As part of the Mortgage Daily Mortgage Origination Survey, the lender reported that it closed nearly $8 billion in single-family loans during the first half of this year.

But all of the Horsham, Pennsylvania-based mortgage banking firm’s loan production was generated through the retail and wholesale lending channels.

Source: Mortgage Daily