Optimal Blue, a mortgage technology provider owned by private equity firm GTCR, has acquired Comergence Compliance Monitoring, a vendor that helps investors vet and monitor third-party originators.
Financial terms of the transaction were not disclosed.
Comergence founders Greg Schroeder and Michael Stallings will remain with the company, which is based in Mission Viejo, Calif.; and there are no immediate plans for changes to branding, staffing or facilities.
"We're retaining all the staff and their [Comergence's] presence in California," said Michael Hollander, principal at GTCR in Chicago and a board member at Optimal Blue in Plano, Texas.
Giving users of Optimal Blue's secondary mortgage market technology access to Comergence's TPO due diligence and monitoring automation will "help build confidence among users of our network," Hollander said.
The acquisition of Comergence is Optimal Blue's first since
GTCR has been focused on acquisitions of
