More than 500 employees will be affected by the acquisition, which includes rights related to 140,000 residential loans, but Community Loan Servicing will retain its name and commercial operations.

The Soquel, California mortgage broker will retain its current branding for the time being.

The international consulting firm adds to its suite of mortgage compliance products, which includes eOriginal.

CEO Michael Isaacs is merging a nonbank lender acquired last year with stakes in real estate and insurance firms, and has an aggressive growth plan for servicing.

The Houston bank negotiated the agreement with the National Community Reinvestment Coalition after closing its merger with BancorpSouth. That deal created a lender with $50 billion of assets and operations in nine states.

The merger, which was initially expected to be approved last year, will create one of the 10 largest banks across Illinois, Indiana and Wisconsin.

Multifamily and specialty finance loans, which were highlights during the fourth quarter, should increase further in 2022, company executives said.

The mortgage lender's CEO Brett McGovern speaks on how the deal came together and how the two will work together once the deal closes.

He is leaving the Texas-based nonbank lender less than one year after it was acquired by New Residential Investment.

A $28 billion agreement with the National Community Reinvestment Coalition could help win regulatory approval for the acquisition of Michigan-based Flagstar Bancorp. The deal was originally expected to close last year.