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AMERICAN BANKERS INS. CO. v. STATE

(CC 0006-05848; CA A115183, SC S50816).

92 P.3d 117 (2004)

337 Or. 151

AMERICAN BANKERS INSURANCE COMPANY, on behalf of MORTGAGE ONE, INC., on behalf of MORTGAGE BROKER SECURITY BOND, Plaintiffs, v. STATE of Oregon; Stauber Real Estate Appraisal, Inc.; Appraisal Company; Hanson Appraisals; James C. Land Real Estate Appraiser, Inc.; Reinhart & Associates; Carl Goschie & Associates; Nationwide Real Estate Tax Services; On Line Documents; Kurt Bender Real Estate Appraiser; Rager Mountain Appraisals; and Ang Engineering Group, Inc., Defendants, and Executive Reporting Services; Precision Appraisals; Rice Dersham, Inc.; Oregon Appraisal & Associates; Appraisal Express, Inc.; David Griffith Real Estate Appraiser; Portland Residential Appraisals; Bratton Appraisal Group; Garrow Appraisals; and Lisa G. Farber & Assoc., Respondents on Review, and Robert Graf and Sandra Graf, Petitioners on Review.

Supreme Court of Oregon, En Banc.

Decided June 17, 2004.

Attorney(s) appearing for the Case

Joseph D. McDonald, of Smith & McDonald, LLP, Portland, argued the cause and filed the petition for review for petitioners on review.

No appearance contra.

Ryan Kahn, Assistant Attorney General, Salem, filed the brief for amicus curiae State of Oregon. With him on the brief were Hardy Myers, Attorney General, and Mary H. Williams, Solicitor General.

Phil Goldsmith, Law Office of Phil Goldsmith, Portland, filed the brief for amici curiae Oregon Trial Lawyers Association and Oregon Consumer League.

BALMER, J.

In this interpleader action, we are asked to decide who is entitled to assert a claim against a bond posted by a licensed mortgage broker. Robert and Sandra Graf loaned funds to Karl and Linda Keener through an agreement with a mortgage broker, Mortgage One, Inc. Oregon law required Mortgage One to obtain a bond, which American Bankers Insurance Company, Inc., supplied. After the Keeners defaulted on the loan, the Grafs alleged that Mortgage One had made...

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