Martin v. STM Mortgage Co.

HANNA, Judge.

The defendant, STM Mortgage Company, appeals the trial court’s judgment awarding the plaintiffs a statutory penalty pursuant to § 443.130, RSMo 1986, for defendant’s failure to release a deed of trust within thirty days following payment and a request by the plaintiffs.

In August 1987, plaintiffs executed a promissory note to Corinthian Mortgage Corporation in the amount of $71,500. The repayment of the note was secured by a deed of trust on the plaintiffs’ real property located in Clay County. STM Mortgage later acquired the promissory note and deed of trust.

In May 1993, the…