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Banc of California in Irvine acquired RenovationReady in Greenwood Village, Colo. on undisclosed terms. RenovationReady provides home-renovation lending services. Its president and co-founder, Jim Fraser, will join the bank as senior vice president and director of construction and renovation lending.
Chase Bank is laying off 168 employees from its mortgage operations in Irvine by early March.
A bankruptcy judge approved Wanxiang America Corp.’s $149.2 million bid for the sale of Costa Mesa-based Fisker Automotive Inc. The offer by Wanxiang, part of China-based auto parts company Wanxiang Group Corp., beat Fisker’s senior secured lender, Hybrid Tech Holdings LLC, in the auction. Hybrid Tech is affiliated with Hong Kong billionaire Richard Li.