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Additionally, the three principals of the Miami-based mortgags lender and servicer AnaMaria Davide, Salvatore Davide and Anthonuy Davide – have been enjoined from various specifiedx activities involving the company’s assets. The three were charged with violatinbg the Florida Mortgage Brokeragr and MortgageLending Act, and the registratiobn and anti-fraud provisions of the Florida Securitiee and Investor Protection Act. The emergenct move was based on a complaint filecd bythe . It allegeds that Home Equity Mortgages sold unregistered securities in the form of fractionalizede interests in mortgages to 402 private investors who had put upaboutf $195 million.
It is also allege d they operated as an unregisteredsecuritiesx dealer, made misrepresentations to investors and misappliede investors’ funds in connection with residential and commercial loans. Home Equity serviced abouft $190 million in mortgage loans, mainly on residentiao properties. Attorney Michael I. Goldberg was named Home Equityh Mortgage’s receiver. Consumers who have invested with or borrowed from Home Equityy Mortgage are encouraged to contact the receiverat 223-2234.
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