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AMERICAN BANKERS INS. CO. v. STATE

Nos. 0006-05848, A115183.

72 P.3d 666 (2003)

188 Or. App. 606

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, and Robert Graf and Sandra Graf, Appellants.

Court of Appeals of Oregon.

Decided July 16, 2003.

Attorney(s) appearing for the Case

Joseph D. McDonald, Portland, argued the cause for appellants. With him on the opening brief was Palmer, Feltz, Smith & McDonald LLP.

Laura Caldera Taylor, Portland, argued the cause for respondents Executive Reporting Services and Precision Appraisals. With her on the brief were Michael M. Ratoza and Ratoza Long, P.C. Joining on the brief were respondents Appraisal Express, Inc., David Griffith Real Estate Appraiser, Garrow Appraisals, and Lisa G. Farber & Assoc.

No appearance for respondents Rice Dersham, Inc., Oregon Appraisal & Associates, Portland Residential Appraisals, and Bratton Appraisal Group.

Before LANDAU, Presiding Judge, and LINDER and WOLLHEIM, Judges.

WOLLHEIM, J.

This is an interpleader action brought by American Bankers Insurance Company (American Bankers), a surety for Mortgage One, Inc. (Mortgage One), to determine the validity and priority of claims being asserted against a bond that was posted for Mortgage One's license. Robert and Sandra Graf (the Grafs) asserted a claim against the bond for financial losses they suffered as private lenders under a loan arranged by Mortgage One and asserted a cross-claim...

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