1163 Realty Corp. v. United Institutional Servicing Corp.

In an action to recover moneys wrongfully withheld, defendants appeal from a judgment of the Supreme Court, Richmond County, dated September 19, 1975, which, after a nonjury trial, is in favor of plaintiff and against them. Judgment reversed, on the law and the facts, with costs, and complaint dismissed. In 1965 the plaintiff corporation, a builder of one-family homes, entered into an oral agreement with defendants, mortgage bankers, whereby the latter, for set fees, were to provide plaintiff with construction loans and permanent mortgage financing on a proposed development in Staten Island.…