Amresco Inc. has signed a definitive agreement to buy substantially all of the operating assets of Quality Mortgage USA Inc., Irvine, Calif., for $65 million.

Amresco had reported Sept. 4 that it signed a letter of intent to acquire Quality Mortgage and Calmac Funding Inc. for $95.2 million. An Amresco spokesman said the company would not complete the acquisition of Calmac.

The Quality deal is expected to close by Oct. 31.

Amresco also filed for an offering of 7.76 million common shares to repay borrowings used to fund the acquisition.

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