Albert Preciado Lawsuit and DRE License Revocation History

Albert Preciado’s lawsuit and DRE license history spans a 2010 salesperson license revocation tied to alcohol-related driving convictions, a 2022 settlement in which he surrendered his mortgage loan originator endorsement over a nationwide education fraud scheme, a separate 2022 DRE accusation over supervision and unlicensed activity that was dismissed in 2024, civil fraud and employment lawsuits that settled, and two unlawful detainer cases filed against him and his companies in 2025. Preciado is the designated officer of The Mortgage Guy Inc., a West Hollywood real estate and mortgage lending firm licensed by the California Department of Real Estate.

The 2010 Salesperson License Revocation

Preciado first obtained his California real estate salesperson license in 2005. In 2009, the California Department of Real Estate filed an accusation against him (Case No. H-35627 LA) citing violations of Business and Professions Code Sections 490 and 10177(b). The basis was two misdemeanor convictions in Los Angeles County Superior Court in January 2008: a DUI and a reckless driving involving alcohol. The DRE determined the offenses were “substantially related to the qualifications, functions or duties of a real estate licensee.”¹

His license was revoked on default judgment on March 2, 2010. A modified decision issued that June allowed him to apply for a restricted license, conditioned on participation in an alcohol diversion program and quarterly compliance reporting.¹ Preciado later petitioned for reinstatement and was granted an unrestricted real estate broker license on December 31, 2013.² The Mortgage Guy Inc. was licensed as a real estate corporation on March 11, 2014, with Preciado as its designated officer.³

The 2022 Mortgage Education Fraud Settlement

In January 2022, Preciado entered a Settlement Agreement and Consent Order over his participation in a nationwide mortgage loan originator education fraud scheme run by Danny Yen, the owner of Carlsbad-based Real Estate Educational Services. Preciado admitted to being a “knowing and active participant” and acknowledged that four of his pre-licensure or continuing education requirements had been completed on his behalf by REES, in violation of federal and state laws requiring mortgage licensees to complete their own coursework.⁴

Under the agreement, signed on January 3, 2022, Preciado surrendered his mortgage loan originator license, withdrew pending license applications in California and Florida, was barred from reapplying for three months, and paid a $2,000 administrative penalty. Before any reinstatement, he was required to complete 20 hours of pre-licensure education and 8 hours of continuing education, none of which could be online self-study.⁴ The DRE’s public license file for The Mortgage Guy Inc. records the voluntary surrender.³

The 2022 DRE Accusation and Its 2024 Dismissal

On August 23, 2022, the DRE filed a separate administrative accusation (Case No. H-42293 LA) naming Preciado, The Mortgage Guy Inc., and Kimberly Monique Rangell-Peleras, a broker associate affiliated with TMGI from February 2019 to September 2021.²

The accusation grew out of a DRE audit covering December 2019 through July 2021, triggered by an anonymous December 2020 complaint. The complaint alleged that an unlicensed individual, Dennise Patricia Ocampo Mosqueda, was showing houses, meeting clients, and closing escrow under Rangell-Peleras’ license, working alongside Emilio Rodriguez, a former salesperson whose license had been revoked in 2017. Instagram printouts attached to the complaint appeared to show Ocampo soliciting consumers to buy homes and qualify for loans.²

The DRE alleged operating without proper licensure, employing or compensating unlicensed persons for real estate activities, failure to supervise, and misrepresentation. Preciado was named in his capacity as TMGI’s designated officer with supervisory responsibility over the firm’s agents.²

The accusation against The Mortgage Guy Inc. was dismissed on July 10, 2024, and the accusation against Preciado personally was dismissed on September 16, 2024. Both dismissals were signed by the Chief Deputy Real Estate Commissioner. The filings do not state a reason for the dismissals.⁵

Civil Lawsuits Against Preciado

Carlson v. Preciado

Timothy R. Carlson filed a fraud lawsuit against Albert Preciado in Los Angeles County Superior Court (Case No. BC414181), categorized as “fraud (no contract).” The complaint also named RE/MAX, LLC, RE/MAX California and Hawaii, and JL Investments, Inc.⁶

After years of litigation, judgment was entered against JL Investments, Inc. on September 30, 2013. On October 10, 2013, the claims against RE/MAX were dismissed with prejudice and the claims against Preciado were dismissed without prejudice. The court retained jurisdiction to enforce a settlement under California Code of Civil Procedure Section 664.6.⁶

De Luna v. Preciado

On March 2, 2020, Luis De Luna and co-plaintiffs Fidel Melara and John Zambrana filed a wrongful termination and employment lawsuit against Preciado, The Mortgage Guy Inc., Ambiance Realty Inc., Driven Enterprises Inc., and Preciado Acquisitions LLC in Los Angeles Superior Court (Case No. 20STCV08687). The second amended complaint described claims involving overtime and damages.⁷⁸ A notice of settlement was filed on January 27, 2022, and the entire action was dismissed with prejudice on March 9, 2022, as to all plaintiffs and all defendants.

2025 Unlawful Detainer Cases

Two unlawful detainer suits were filed against Preciado and his affiliated entities in 2025, both alleging breach of rental or lease agreements.

Sunset Towers Partnership v. Ambiance Realty Inc. et al. was filed on July 9, 2025, in Los Angeles County Superior Court before Judge Harry Jay Ford III. The named defendants include Preciado, Ambiance Realty Inc., The Mortgage Guy Inc., Driven Enterprises, and more than a dozen individual defendants. A case management conference was scheduled for January 14, 2026.⁹

Midway HFCA LLC v. Alberto Preciado (Case No. 25STCV25578) was filed on September 2, 2025, before Judge Holly J. Fujie. As of the latest available filings, the complaint and summons had been filed and a case management conference was set for February 6, 2026.¹⁰

Current License Status

As of DRE records reviewed in mid-2026, The Mortgage Guy Inc. remains a licensed real estate corporation with an expiration date of April 18, 2026, and Preciado is still listed as its designated officer. His mortgage loan originator endorsement was voluntarily surrendered in January 2022 as part of the REES settlement, with a right to reapply after three months. The 2022 DRE accusation against both Preciado and TMGI was dismissed in 2024.³⁵

1
California Department of Real Estate. Accusation and Decision, Case No. H-35627 LA
2
California Department of Real Estate. Accusation, Case No. H-42293 LA
3
California Department of Real Estate. Public License Information, The Mortgage Guy Inc.
4
California Department of Real Estate. Settlement Agreement and Consent Order, Case No. H-05568 SD
5
California Department of Real Estate. Dismissal Orders, Case No. H-42293 LA
6
PlainSite. Timothy R. Carlson v. Albert Preciado Et Al
7
Trellis Law. Luis De Luna vs. Albert Preciado
8
Scribd. De Luna v. Albert Preciado and The Mortgage Guy
9
Trellis Law. Sunset Towers Partnership vs. Alberto Preciado Et Al
10
Trellis Law. Midway HFCA LLC vs. Alberto Preciado