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.

The mortgage broker business was never a driving force for the Chicago-based firm's purchase of Stearns Lending, so dropping it wasn't totally unexpected.

But the online real estate company is eliminating nearly half of the positions in its existing mortgage business as a result of the deal.

Lenders took advantage of the exceptional business environment to make deals throughout the last 12 months.

The central bank also signed off on Webster Financial’s acquisition of Sterling Bancorp and WSFS Financial’s purchase of Bryn Mawr Bank Corp. The moves come amid a political fight over the bank merger approval process.

Founded in the wake of the global financial crisis, KBRA has issued more than 51,000 ratings representing almost $3 trillion in rated issuance since 2010.