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Business ProfileforReal Estate Educational Services
Current Alerts For This Business
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
On February 2, 2022, Danny Yen dba Real Estate Educational Services entered into a Settlement Agreement with the California Department of Financial Protection and Innovation. The agreement settles allegations that Danny Yen knowingly and actively coordinated with at least 607 mortgage loan originators (MLOs) to implement the Education Fraud Schemes, fraudulently completed Pre-Licensure (PE) and Continuing Education (CE) requirements on behalf of the MLOs in violation of federal and state law, and knowingly aided and abetted MLOs in violating the NMLS Rules of Conduct (ROC) and the Confidentiality Agreement (CA) by participating in the MLO Education Fraud Schemes. Under terms of the agreement, Danny Yen agrees to cooperate and make factual declarations, is barred from teaching, has an employment restriction to own or act as an instructor proprietor, owner, partner, officer, director, Experienced Person, manager, or occupy a position of similar status for a business or an entity that engages in providing education courses that are required by statute, regulation, rule, or practice subject to the jurisdiction of a settling state regulator under the SAFE Act. Danny agrees to a lifetime restriction not to take or complete, on behalf of any other person or persons, education courses that are required by statute, regulation, rule, or practice subject to the jurisdiction of a settling state regulator under the SAFE Act. He must pay civil monetary penalties and costs in the amount of $75,000.
This action is final.
At-a-glance
Related Categories
Business Details
- Location of This Business
- 3643 Adams St, Carlsbad, CA 92008
- BBB File Opened:
- 2/7/2022
- Years in Business:
- 2
- Business Started:
- 2/7/2022
- Type of Entity:
- Sole Proprietorship
- Business Management
- Mr. Danny Yen, Owner
- Contact Information
Customer Contact
- Mr. Danny Yen, Owner
Customer Complaints
0 Customer Complaints
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