The Real Deal Miami

Home Equity Mortgage in receivership

February 13, 2009 10:39AM

The Florida Bureau of Financial Regulation said Home Equity Mortgage is in temporary receivership and under a temporary injunction. A Miami-Dade County Circuit Court judge also enjoined principals Ana Maria Davide, Salvatore Davide and Anthony Davide from a variety of activities related to the company. The actions follow a complaint filed by the Office of Financial Regulation alleging that Home Equity Mortgage sold unregistered securities to 402 private investors who had put up about $195 million.