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.

Both Keefe, Bruyette & Woods and BTIG believe the transaction — key to spinout of the mortgage business — will be completed despite the opposition of Sculptor founder Dan Och.

The founder of the company formerly known as Och-Ziff is threatening to oppose the transaction unless material changes are made to the agreement.

The business combination is anticipated to occur on or about August 22, and trade under the symbols BETR and BETRW.

The privately held company added a retail branch network and a $10 billion servicing portfolio — and is looking for more.

The delivery of immediate cash value to WMC stockholders was one of two points that solidified the deal.

Denver-based Proprietary Capital, who offers a platform for institutional investors seeking returns from mortgage-related assets, agreed to purchase the New Jersey-based lender as it seeks to increase the number of opportunities it offers.

The real estate investment trust declined to comment on its bid to buy Western Asset Mortgage Capital, a company that received a sweetened competing offer from Terra Property Trust last week.

Negotiations are ongoing, but the legal move ends the restraining order trial in federal court scheduled for Aug. 14.

But its mortgage business remains a money loser, and it wasn't a great period for the acquisition target either.

The mortgage company was able to move a lot closer to its goal to become a $1 trillion servicer with the expiration of the final tender offer and closing of the deal.

The deal is expected to help Stavvy further growth of digital self-service loss-mitigation options for borrowers and their lenders.