Significant case wherein the Appellate Division, Second Department reversed the lower court and rendered summary judgment in favor of defendant lender, dismissing quiet title claims of plaintiff prior purchase money mortgagee which recorded a satisfaction of its prior mortgage in error. Defendant lender accepted a mortgage in reliance on a recorded satisfaction of plaintiff’s prior purchase money mortgage. Plaintiff’s lis pendens of its claim seeking equitable subrogation to its purchase money mortgage was filed prior to the recording of defendant lender’s mortgage. The Court held that even though the defendant lender’s mortgage was subject to plaintiff’s lis pendens, plaintiff’s underlying claim for equitable subrogation and mortgage priority as to defendant lender was to be dismissed as a matter of law. Since the recording of the satisfaction was the result of the negligence of the plaintiff lender’s agent, such fault was imputed to plaintiff. The equities therefore did not weigh decisively in plaintiff’s favor where the defendant lender accepted its mortgage in reliance of the recorded satisfaction and had no notice the satifaction was recorded in error.