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Loan Modification

: Mortgage Lender Implode-o-Meter

Attorney General Gansler Issues Cease and Desist Against Maryland Mortgage Company

By Implode-Explode Heavy Industries

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Attorney General Douglas F. Gansler announced today that his Securities Division has ordered Montgomery County-based WEI Mortgage Corporation, and its principal, Wesley Yuan, to cease and desist violating Maryland?s securities laws. The order charges WEI Mortgage Corporation and Yuan with engaging in the offer and sale of unregistered, non-exempt securities in the form of ?FPP? or ?Funding Participation Program? promissory notes, while misrepresenting to investors that the FPP notes were not securities investments, and that the investments involved ?little to no risks.?

Full post as published by Mortgage Lender Implode-o-Meter on April 23, 2010 (boomark / email).

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