Home Owners' Loan Corp. v. Gordon

The Home Owners’ Loan Corporation, a corporation, filed an action to foreclose a mortgage on real property, making appellants, among others, defendants. Two of these appellants are the original mortgagors, and the other, Morris J. Gordon, as cosigner of the note which was secured by the mortgage.

The answer filed by appellants sought to question the constitutionality of the act of Congress creating the Home Owners’ Loan Corporation, to deny the authority of the corporation to accept as security, a cosigner, and to abate the action under the foreign corporation statutes of this state.

To this…