Stories in this week’s Orange County Business Journal
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CoreLogic Inc. Chief Financial Officer Anthony “Buddy” Piszel resigned from the Santa Ana-based mortgage and data services company amid legal issues from his prior job. Piszel is part of a Securities and Exchange Commission probe of McClean, Va.-based Federal Home Loan Mortgage Corp., or Freddie Mac. He worked at Freddie Mac from late 2006 to late 2008, when the government-backed mortgage company was placed in conservatorship. Piszel stepped down from CoreLogic effective last week after receiving a Wells notice indicating regulators plan to recommend civil action. He and others will have a chance to respond before a final decision is taken. Piszel said he plans to fight any potential litigation. Piszel has been lauded for overseeing regulatory approvals and financing that paved the way for CoreLogic’s debut as a public company last year after splitting from Santa Ana’s First American Corp. Michael Rasic, senior vice president of finance and accounting, is set to handle financial duties during a CFO search.
Gov. Jerry Brown canceled a deal with an investment group that offered $2.3 billion to buy 11 state office buildings that would be leased back to Sacramento. Irvine-based Spyglass Realty Partners is part of California First LLC, the group that won bidding on the buildings after former Gov. Arnold Schwarzenegger put them on the block to fill the state’s $25 billion budget deficit. Leasing the buildings would cost the state the state $250 million to $1.5 billion in next 30 years, according to Brown, who called the proposed sale a “gigantic loan.”
