Danny Yen, owner of Real Estate Educational Services and defendant in a multi-state lawsuit, has settled with the California Department of Financial Protection and Innovation, Maryland’s Office of the Commissioner of Financial Regulation, and the Oregon Division of Financial Regulation.
The settlement relates to a scheme where Yen fraudulently reported loan originators (LOs) completing required education courses. He also sat for courses in LOs’ stead, for a fee.
Read on for more details.