A Suffolk County judge has ordered the Emigrant Mortgage Company to pay a Huntington couple $100,000 as compensation for the bank’s “deplorable” mortgage agreement and its bad-faith foreclosure negotiations.
“The Court…determines that the imposition of exemplary damages upon [the plaintiff bank] is equitable, necessary and appropriate, both in light of Plaintiff’s shockingly inequitable, bad-faith conduct, as well as to serve as an appropriate deterrent to any future outrageous, improper and wrongful activities,” Acting Supreme Court Justice Jeffrey Arlen Spinner wrote in Emigrant Mortgage Co. v. Corcione, 2009-28917.
