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TROY SAV. BANK v. AM. EQUITY FUNDING, INC.

120 A.D.2d 828 (1986)

Troy Savings Bank, Respondent, v. American Equity Funding, Inc., et al., Appellants. (Action No. 1.) American Mortgage Banking, Ltd., Appellant, v. Troy Savings Bank, Respondent. (Action No. 2.)

Appellate Division of the Supreme Court of the State of New York, Third Department.

May 8, 1986

Main, J. P.

American Mortgage Banking, Ltd. (American), previously known as American Equity Funding, Inc., is engaged in the business of "mortgage banking". As part of such business, American entered into a contract with Troy Savings Bank (Troy) whereunder Troy would supply short-term financing of residential mortgages obtained by American and be named as the mortgagee. When American later arranged for permanent...

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