Select the best answer choice.
Henry obtained a loan through ABC Mortgage Group to buy a
house in Texas. After the sale, ABC transferred its interest in the
loan to XYZ Mortgage Group. Subsequently, XYZ transferred its
interest to 123 Mortgage Group. It is common practice in the
mortgage industry for loans to be transferred amongst lenders.
Eventually, when Henry failed to make the loan payments, 123
Mortgage Group notified Henry that it was going to foreclose on
the property and sell the house.
Henry filed a lawsuit, claiming that the lenders had impropesy
assigned the mortgage loan.
Under Texas law, only parties directly involved in an assignment
can challenge the validity of an assignment.
Does Henry have standing to sue?
O No, because the requisite standing elements cannot be met.
O Yes, because the court may provide Henry remedy by a favorable
judgement.
O Yes, because the assignment caused Henry harm.
O Yes, because Henry was harmed by the assignment.
Henry obtained a loan through ABC Mortgage Group to buy a
house in Texas. After the sale, ABC transferred its interest in the
loan to XYZ Mortgage Group. Subsequently, XYZ transferred its
interest to 123 Mortgage Group. It is common practice in the
mortgage industry for loans to be transferred amongst lenders.
Eventually, when Henry failed to make the loan payments, 123
Mortgage Group notified Henry that it was going to foreclose on
the property and sell the house.
Henry filed a lawsuit, claiming that the lenders had impropesy
assigned the mortgage loan.
Under Texas law, only parties directly involved in an assignment
can challenge the validity of an assignment.
Does Henry have standing to sue?
O No, because the requisite standing elements cannot be met.
O Yes, because the court may provide Henry remedy by a favorable
judgement.
O Yes, because the assignment caused Henry harm.
O Yes, because Henry was harmed by the assignment.