FARMINGTON HILLS, Mich. - Source One Mortgage Services Corp. reported that 2,239,261 or 8.42% cumulative preferred series A shares were tendered in its exchange offer, which expired Friday.

As reported, Source One offered to exchange up to $100 million of its 9.375% quarterly income capital securities (QUICS) for up to four million series A preferred shares.

In a press release, Source One said it will issue about $55,981,525 principal amount of QUICS.

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