Final Order — Mortgage Broker

Index: OFR 2026 - 199 ,./ DOC ( 4/14/2026 I.EGA. STATE OF FLORIDA OFFICE OF FINANCIAL REGULATION In Re: MILES FUNDING L.L.C., and REI WEI RYAN, Case Number: 131177 Respondents. FINAL ORDER The State of Florida, Office of Financial Regulation ("Office"), being authorized and directed to administer and enforce chapter 494, Florida Statutes, hereby enters this Final Order with Notice of Rights ("Final Order") as authorized by the provisions of chapters 120 and 494, Florida Statutes, against MILES FUNDING, L.L.C., and REI WEI RY AN, ("Respondents"). FINDINGS OF FACT

1. The Office has jurisdiction over the subject matter of this case and the parties hereto.

2. At all times material to this case, Respondents were and have been licensed in Florida as a mortgage broker with license number MBR2305 .

3. The Office conducted an examination (No. I 30447) to ascertain Respondents' compliance with chapter 494, Florida Statutes, and found that grounds existed to initiate legal action. On December 2, 2025, the Office issued an Administrative Complaint ("Complaint") seeking an administrative fine of $3,500.00 and a ten (10) day license suspension. (Exhibit A).

4. Respondents were served the Complaint via U.S. Certified Mail on December 15,

5. (Exhibit B). Accordingly, a response was due no later than January 5, 2026.

6. The Complaint contained a Notice of Rights, which fully advised Respondents that they had twenty-one (21) days after the receipt of the Complaint within which to petition the Office for an administrative hearing to contest the allegation set forth in the Complaint, in accordance with sections 120.59 and 120.57, Florida Statutes, including the following information: TO PRESERVE THE RIGHT TO A HEARING, A WRITTEN RESPONSE MUST BE FILED WITH THE OFFICE OF FINANCIAL REGULATION WITHIN TWENTY-ONE (21) DAYS AFTER THE RECEIPT OF THE ADMINISTRATIVE COMPLAINT. SAID RESPONSE MUST BE RECEIVED BY THE OFFICE NO LATER THAN 5:00 P.M. ON THE TWENTY￾FIRST DAY AFTER RECEIPT OF THE ADMINISTRATIVE COMPLAINT. A FAILURE TO TIMELY RESPOND IN WRITING WILL CONSTITUTE A W AIYER OF THE LICENSEE'S RIGHT TO REQUEST A HEARING AND A FINAL ORDER MAY BE ENTERED WITHOUT FURTHER NOTICE.

7. To date, the Office has neither received a written response to the Complaint nor have Respondents made a claim of equitable tolling.

8. The Findings of Fact alleged in the Complaint are hereby incorporated by reference and adopted as Findings of Fact in this Final Order. CONCLUSIONS OF LAW

9. Pursuant to sections 494.0011 and 494.0012, Florida Statutes, the Office is charged with administering and enforcing the provisions of chapter 494, Florida Statutes, and conducting examinations and investigations to determine whether any provision of chapter 494, Florida Statutes, has been violated. Thereby, the Office has jurisdiction over the subject matter of this case and of the parties hereto.

10. The Findings of Fact herein serve as the basis of the entry of this Final Order against Respondents. 2

11. Section 120.569(2)(a), Florida Statutes, and Rule 28-106.111 (2), Florida Administrative Code, require, among other things, that a response or a petition to an action which affects the substantial interests of a party be filed with the agency within 21 days of receipt of written notice of the action.

12. Pursuant to Rule 28-106.111(4), Florida Administrative Code, the failure of Respondents to timely respond to the Complaint constitutes a waiver of Respondents' right to an administrative proceeding.

13. The doctrine of equitable tolling can be applied in administrative cases when a party has been misled or lulled into inaction, i.e., has in some extraordinary way, been prevented from asserting his rights, or has timely asserted his rights in the wrong forum. Machules. v. Department of Admin., 523 So. 2d 1132 (Florida 1988).

14. Without any evidence of equitable tolling, it is appropriate for the Office to conclude there was none. Patz v. Dept. of Health, 864 So.2d 79, 80 (Fla. 3d DCA 2003).

15. Respondents failed to submit a response to the Complaint and failed to present a claim, or evidence of equitable tolling. Therefore, it is appropriate for the Office to conclude there was no equitable tolling and Respondents waived the right to an administrative proceeding.

16. The Findings of Fact and Conclusions of Law that form the basis for the Complaint, together with the waiver of a hearing by Respondents, constitute grounds for the Office to impose an administrative fine against Respondents. Based on the foregoing Findings of Fact and Conclusions of Law, it is hereby ORDERED: A. Within thirty (30) days of the date of this Final Order, Respondents shall pay an ADMINISTRATIVE FINE of Three Thousand Five Hundred Dollars ($3,500.00) and a ten (10) day license SUSPENSION shall be imposed. 3

B. Respondents shall submit the administrative fine in the form of a money order, cashier's check, or wire transfer made payable to the "OFFICE OF FINANCIAL REGULATION." Such payment shall reference Case Number 131177 and shall be sent to the attention of the Agency Clerk, c/o Damaris E. Reynolds, Post Office Box 8050, Tallahassee, Florida 32314-8050. DONE and ORDERED this )~~ day of April, 2026, in Tallahassee, Leon County, Florida. Commissioner 4

NOTICE OF RIGHTS A PARTY WHO IS ADVERSELY AFFECTED BY THIS FINAL ORDER IS ENTITLED TO JUDICIAL REVIEW PURSUANT TO SECTION 120.68, FLORIDA STATUTES. REVIEW PROCEEDINGS ARE GOVERNED BY THE FLORIDA RULES OF APPELLATE PROCEDURE. SUCH PROCEEDINGS ARE COMMENCED BY FILING THE ORIGINAL NOTICE OF APPEAL WITH THE AGENCY CLERK FOR THE OFFICE OF FINANCIAL REGULATION AS FOLLOWS: By Mail. Facsimile or Email Agency Clerk Office of Financial Regulation Office of General Counsel P.O. Box 8050 Tallahassee, FL 32314-8050 Phone: (850) 410-9889 Fax: (850) 410-9663 Email: Agency.Clerk(a:flofr. gov OR By Hand Delivery Agency Clerk Office of Financial Regulation Office of General Counsel The Fletcher Building IO I East Gaines Street Tallahassee, FL 32399 Phone: (850) 410-9889 A COPY OF THE NOTICE OF APPEAL, ACCOMPANIED BY THE FILING FEES AS REQUIRED BY LAW, MUST ALSO BE FILED WITH THE DISTRICT COURT OF APPEAL, FIRST DISTRICT, 2000 DRAYTON DRIVE, TALLAHASSEE, FLORIDA 32399-0950, OR WITH THE DISTRICT COURT OF APPEAL IN THE APPELLATE DISTRICT WHERE THE PARTY RESIDES. THE NOTICE OF APPEAL MUST BE FILED WITH BOTH THE AGENCY CLERK FOR THE OFFICE OF FINANCIAL REGULATION AND THE DISTRICT COURT OF APPEAL WITHIN 30 DAYS OF THE RENDITION OF THE ORDER TO BE REVIEWED. 5

CERTIFICATE OF SERVICE I HEREBY CERTIFY that a true and correct copy of the foregoing Final Order has been sent for service via U.S. Certified Mail to Miles Funding LLC. and Rei Wei Ryan c/o Registered Agent: United States Corporation Agents Inc, 13302 Winding Oak Court, Suite A, Tampa, FL 33612 on this J.S!ray of April, 2026. 050 . . flofr.gov Tel: (850) 410-9889 9489 0090 0027 662 □ 8203 14 6

1 STATE OF FLORIDA OFFICE OF FINANCIAL REGULATION In Re: MILES FUNDING, L.L.C., Case Number: 131177 AND REI WEI RYAN, Respondents. ADMINISTRATIVE COMPLAINT The State of Florida, Office of Financial Regulation, (“Office”) files this Administrative Complaint against MILES FUNDING, L.L.C. AND REI WEI RYAN (together “Respondents”), alleging: GENERAL ALLEGATIONS

1. Pursuant to sections 494.0011 and 494.0012, Florida Statutes, the Office is charged with administering and enforcing the provisions of chapter 494, Florida Statutes, and conducting examinations and investigations to determine whether any provision of chapter 494, Florida Statutes, has been violated.
2. Section 494.00255(1), Florida Statutes, sets forth the acts that constitute grounds for which disciplinary action may be taken against a person licensed or required to be licensed under chapter 494, Florida Statutes.
3. Pursuant to section 494.00255(l)(u), Florida Statutes, failure to comply with any provision of chapter 494, Florida Statutes, or its corresponding rules, constitutes grounds for disciplinary action. Exhibit A

2 4. Pursuant to section 494.00255(2), Florida Statutes, the Office may impose penalties against a person it finds to be in violation of any act specified in section 494.00255, Florida Statutes; such penalties may include the revocation of a license and the imposition of a fine in an amount up to $25,000.00 for each count or separate offense. 5. Section 494.001(23), Florida Statutes, defines a “mortgage broker” as an entity that, for compensation or gain, arranges or negotiates mortgage loans on real estate, but does not make the loans themselves. 6. Section 494.001(30), Florida Statutes, defines a “principal loan originator” as the licensed loan originator in charge of, and responsible for, the operation of a mortgage lender or mortgage broker, including all of the activities of the mortgage lender’s or mortgage broker’s loan originators, in-house loan processors, and branch managers, whether employees or independent contractors. 7. The Nationwide Multistate Licensing System and/or Registry (“'NMLS”) is the mortgage licensing system and data repository of record which is statutorily mandated to be used by the Office to manage the licensing of all mortgage loan originators and mortgage entities in Florida. See section 494.001(33), Florida Statutes. 8. At all times material, MILES FUNDING, L.L.C. is and has been licensed with the Office as a mortgage broker (License number MBR2305) since May 11, 2017. 9. At all material times, REI WEI RYAN is and has been the 100% owner and CEO of MILES FUNDING, L.L.C. As such, (s)he is responsible for the daily operations of MILES FUNDING, L.L.C., pursuant to section 494.001(30), Florida Statutes. 10. As part of its most recent examination (Examination number 130447), the Office reviewed certain documents from Respondents to ascertain compliance with chapter 494.

3 11. Rule 69V-40.111(1), Florida Administrative Code, provides that the penalties, which are applicable to each ground for disciplinary action that may be imposed by the Office against a person for a violation of chapter 494, Florida Statutes, are set forth in the “Office of Financial Regulation, Division of Consumer Finance, Disciplinary Guidelines for Mortgage Loan Originators and Mortgage Entities, Form OFR-494-14.” 12. Pursuant to Rule 69V-40.111(5), Florida Administrative Code, the range for an “A” level administrative fine is between $1,000.00 to $3,500.00 and a 3 to 10-day suspension. COUNT I 13. The above general allegations are hereby re-alleged and incorporated by reference as if fully stated herein. 14. Section 494.004(2), Florida Statutes, provides that a mortgage broker must submit a Mortgage Call Report (“MCR”) to the Office on a quarterly basis via NMLS. 15. Pursuant to Rule 69V-40.176(3), Florida Administrative Code, mortgage brokers who are not approved Fannie Mae, Freddie Mac Sellers/Servicers, or Ginnie Mae Issuers are required to submit the Financial Condition component of the NMLS Mortgage Call Report within 45 days of the end of each calendar quarter. 16. Previously, a notice of non-compliance was issued on August 9, 2021, following Respondents’ late filing of the MCR for the first quarter of 2021. Additionally, a Final Order was issued in OFR Legal Case No. 117170 (Examination No. 106937) on October 10, 2023, imposing an administrative fine due to the late filing of the MCR for the second quarter of 2021. Furthermore, a Final Order was issued in OFR Legal Case No. 124508 (Examination No. 123203) on February 7, 2025, imposing an administrative fine for the late filing of the MCR for the fourth quarter of 2023 and the first quarter of 2024.

4 17. During the examination, the Office found that Respondents, who are not approved as Fannie Mae, Freddie Mac Seller/Servicer or Ginnie Mae Issuers, failed to timely submit the MCR for the fourth quarter of 2024, ending on December 30, 2024, which was due on February 14, 2025, and has not been filed. 18. By failing to timely submit its Second, Third, and Fourth Quarter 2024 MCRs, Respondents violated Rule 69V-40.176(3), Florida Administrative Code, and thereby section 494.004(2), Florida Statutes. 19. Pursuant to the Disciplinary Guidelines for Mortgage Loan Originators and Mortgage Entities Form OFR-494-14, incorporated by reference in Rule 69V-40.111, Florida Administrative Code, violation number 65, a licensee cited for a violation of section 494.004(2), Florida Statutes, is subject to an “A” level administrative fine and 3 to 10 day license suspension. 20. Therefore, the Office is seeking to impose a $3,500.00 administrative fine and 3 to 10 day license suspension. WHEREFORE, Respondents, MILES FUNDING, L.L.C. and REI WEI RYAN, are hereby notified that the Office intends to enter an Order imposing an administrative fine of $3,500.00 and a 10 day license suspension. [this space intentionally left blank with Notice of Rights appearing on the next page]

5 NOTICE OF RIGHTS The licensee is entitled to be represented by counsel or another qualified representative. The licensee also has the right to request a hearing pursuant to sections 120.569 and 120.57, Florida Statutes. Such request must comply with Rules 28-106.2015 and 28-106.104, Florida Administrative Code. An Election of Proceeding form is attached for your convenience. Any such request must be filed as follows: By Mail, Facsimile or Email OR By Hand Delivery Agency Clerk Agency Clerk Office of Financial Regulation Office of Financial Regulation Office of General Counsel Office of General Counsel P.O. Box 8050 The Fletcher Building Tallahassee, FL 32314-8050 101 East Gaines Street Phone: (850) 410-9889 Tallahassee, FL 32399 Fax: (850) 410-9663 Phone: (850) 410-9889 Email: Agency.Clerk@flofr.gov TO PRESERVE THE RIGHT TO A HEARING, A WRITTEN RESPONSE MUST BE FILED WITH THE OFFICE OF FINANCIAL REGULATION WITHIN TWENTY￾ONE (21) DAYS AFTER THE RECEIPT OF THE ADMINISTRATIVE COMPLAINT. SAID RESPONSE MUST BE RECEIVED BY THE OFFICE NO LATER THAN 5:00 P.M. ON THE TWENTY-FIRST DAY AFTER THE RECEIPT OF THE ADMINISTRATIVE COMPLAINT. A FAILURE TO TIMELY RESPOND IN WRITING WILL CONSTITUTE A WAIVER OF THE LICENSEE’S RIGHT TO REQUEST A HEARING AND A FINAL ORDER MAY BE ENTERED WITHOUT FURTHER NOTICE. You may not make an oral request for an administrative hearing. With regard to a written request, if you fail to follow the outlined procedure, your request may be dismissed. Any request for an administrative proceeding received prior to the date of this notice is deemed abandoned and to be considered, must be timely renewed in compliance with the procedure set forth above. Mediation of this matter pursuant to section 120.573, Florida Statutes, is not available.

6 NOTICE TO RESPONDENTS In accordance with the Americans with Disabilities Act, persons with disabilities needing special accommodation to participate in this proceeding should contact the Agency Clerk no later than seven (7) days prior to the filing deadline or proceeding, at the Office of Financial Regulation, The Fletcher Building, 200 East Gaines Street, Tallahassee, Florida 32399, Phone: (850) 410- 9889, or by Email: Agency.Clerk@flofr.gov. By:_____________________________ Damaris E. Reynolds Assistant General Counsel Office of Financial Regulation Office of General Counsel Fla. Bar No. 0037176 200 E Gaines Street Tallahassee, FL 32399-0370 Tel: 850-410-9830 Email: Damaris.Reynolds@flofr.gov CERTIFICATE OF SERVICE I HEREBY CERTIFY that a true and correct copy of the foregoing Administrative Complaint has been sent for service via U.S. Certified Mail to MILES FUNDING, L.L.C. and Rei Wei Ryan c/o Registered Agent: United States Corporation Agents, Inc., 13302 Winding Oak Court, Suite A, Tampa, FL 33612 on December 2, 2025.

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Damaris E. Reynolds Assistant General Counsel Office of Financial Regulation

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