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LIBERTY BANK v. TALMAN HOME MORTG. CORP.

No. 88-2633.

877 F.2d 400 (1989)

LIBERTY BANK and Its Successor in Interest, the Federal Deposit Insurance Corp., Plaintiffs-Appellees Cross-Appellants, v. TALMAN HOME MORTGAGE CORPORATION, Defendant Talman Home Federal Savings & Loan Association, Defendant-Appellant Cross-Appellee.

United States Court of Appeals, Fifth Circuit.

July 18, 1989.

Attorney(s) appearing for the Case

Stephen W. Smith, James C. Slaughter, Houston, Tex., for defendant-appellant cross-appellee.

William B. Allison, Geoffrey H. Bracken, Houston, Tex., for plaintiffs-appellees cross-appellants.

Before THORNBERRY, WILLIAMS and DAVIS, Circuit Judges.

JERRE S. WILLIAMS, Circuit Judge:

Talman Home Federal Savings & Loan Association appeals an adverse summary judgment requiring it to repurchase three mortgage loans as a remedy for its breach of a loan participation agreement with appellee Liberty Bank. We find that the district court incorrectly interpreted the loan participation agreement and as a result erred in ordering that the loans must be repurchased. We reverse the judgment of the district court, remanding...

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