Ong Building Corp. v. GMAC Mortgage Corp. of Pennsylvania

SPINDEN, Judge.

GMAC Mortgage Corporation of Pennsylvania, appeals the trial court's judgment, following a bench trial, that GMAC pay $12,555 to Ong Building Corporation as a penalty for failing to deliver a deed of release within the statutory deadline. Ong was the broker in the sale of property for which GMAC was the mortgagee and had sought the deed of release on behalf of the property’s seller. GMAC contends that the statute’s deadline did not apply to Ong because it was only a broker and not a party to the transaction, and, even if it did, it should be excused from the statute’s penalty…