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.

Michael Hollander, principal at GTCR and a board member at Optimal Blue
Michael Hollander, principal at GTCR and a board member at Optimal Blue

"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 acquired the company.

GTCR has been focused on acquisitions of experienced financial technology providers in the mortgage, banking and insurance industries; and horizontal market opportunities in compliance.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.
Bonnie Sinnock

Bonnie Sinnock

Bonnie Sinnock is the capital markets editor of National Mortgage News.