Becker v. Four Points Investment Corp.

OPINION .

RILEY, Judge

STATEMENT OF THE CASE

Plaintiffs-Appellants are a group of loan applicants (“Applicants”) who appeal following the trial court’s grant of summary judgment in favor of surety Washington International Insurance Company (“Washington”) on the issue of whether the Applicants may make a claim against the bond issued by Washington to loan broker Four Points Investment Corp. (“Four Points”).

We reverse.

ISSUE

Applicants present a number of issues, one of which we find dispositive and restate as follows: whether parties claiming damages may sue on the bond issued to loan brokers…