The depository joins other mortgage players small and large in exiting the space amid the market's significantly reduced activity.

The deal will close for $10 million in cash, plus the right to purchase nearly 33.9 million shares of common stock.

On Nov. 29, Inlanta notified state officials it was terminating 62 employees contingent on its acquisition by a then-unnamed third party.

The $225 million deal has its roots in the creation of the mortgage technology company that currently owns the property information business.

Republican control of the U.S. House of Representatives will help advance financial services firms' priorities, with a wish list that includes curbing ambitious proposals by a top markets regulator and diminishing the clout of a popular U.S. consumer watchdog.

The latest move from the lender comes after a recent purchase of a Massachusetts brokerage and the appointment of several new leaders.

Amid scuttlebutt, the Atlanta company is mum on buyer, which is rumored to be CrossCountry Mortgage.

Although mortgage lending has been under pressure due to rising rates, executives said they've seen "consistent demand or even increasing demand from a depository perspective."

The acquisition, which was originally expected to close at the end of last year, ultimately took more than 18 months to receive regulatory approval. It is now expected to close on Dec. 1.

The lender reported a 24% drop in volume quarter-over-quarter but said it compared favorably to the average 29% decline projected by the Mortgage Bankers Association.