United States Third Circuit

When evaluating the legitimacy of the assignment of a mortgage as it relates to diversity jurisdiction, courts must consider: the amount of interest the assignor retains in the foreclosure action; what legitimate business purpose motivated the assignment; and the amount of consideration given by the assignee for the assignment. Examining the above factors here, there was no evidence the assignment at issue was a sham and, thus, diversity jurisdiction was proper.

Appellate Information

• Argued 12/06/2001
• Decided 03/15/2002
• Published 03/15/2002

Judges

• Before BECKER, Chief Judge, NYGAARD and COWEN, Circuit Judges.

Court

• United States Third Circuit

Counsel

• For Appellant:
  
• Kathy Mullen d/b/a Regency Charter Services and Aquamarine Tours, Inc., Appellants., John H. Benham, III, (Argued), Watts & Benham, Saint Thomas USVI, for Appellant.


• For Appellees:
  
• Richard H. Dollison, (Argued), Stryker, Duensing, Casner & Dollison Drakes Passage, St. Thomas USVI, for Appellee.