In Brief: Amresco to Purchase Calif. Lender for $95M

Amresco Inc. signed a letter of intent to acquire Quality Mortgage USA Inc. and Calmac Funding Inc. for $95.2 million.

Quality Mortgage, owned by Calmac and DLJ Mortgage Capital Inc., is a residential lender based in Irvine, Calif.

In a press release, Amresco said it expected the transaction to contribute immediately to earnings per share.

The company intends to file a registration statement covering common shares to fund a portion of the purchase price. The deal is expected to close in the fourth quarter.

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