A group publicly identified as Bidder J, that reportedly includes big names in finance, is willing to pay $1.61 per share above the $11.15 Rithm Capital agreed to.

Intercontinental Exchange Inc. can move forward with its takeover of Black Knight Inc. after the U.S. Federal Trade Commission accepted a binding settlement that will see key mortgage software products sold to rival Constellation Software Inc.

Its Encompass Lending unit will move into Austin as well as add to its Dallas-Fort Worth presence.

The company claims its founder is acting out after he was removed from his positions due to a bribery scandal, in which substantial penalties nearly forced the business to close.

The mortgage technology companies finalized an agreement with the Federal Trade Commission that permits the controversial deal to proceed.

The transaction will give the public mortgage shop a stronger foothold in the Midwest.

In a letter to the Federal Trade Commission, the California Democrat said assurances were needed from the potential combined company to ensure the buyer of divested assets would not be dependent on the "conglomerate" to offer fully functioning products.

The lender, which endured two difficult years of limbo before its listing, is touting a capital infusion of at least $550 million as a key to future growth.

The hedge fund accepted a $639 million offer from the mortgage REIT last month.

The job cuts come amid caution about the industry's growth potential in the second half of the year. Some 45,000 positions have been lost in banking and related industries over the last two-plus years.