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NEW YORK GUARDIAN MORTGAGEE CORP. v. U.S.

No. 90-5043.

916 F.2d 1558 (1990)

NEW YORK GUARDIAN MORTGAGEE CORP., Plaintiff-Appellant, v. The UNITED STATES, Defendant-Appellee.

United States Court of Appeals, Federal Circuit.

October 11, 1990.

Attorney(s) appearing for the Case

Paul Mogin, Williams & Connolly, Washington, D.C., argued, for plaintiff-appellant.

Agnes M. Brown, Atty., Commercial Litigation Branch, Dept. of Justice, Washington, D.C., argued, for defendant-appellee. With her on the brief were Stuart M. Gerson, Asst. Atty. Gen., David M. Cohen, Director and Thomas W. Petersen, Asst. Director.

Before NIES, Chief Judge, and COWEN, Senior Circuit Judge, and MICHEL, Circuit Judge.

COWEN, Senior Circuit Judge.

Appellant, New York Guardian Mortgagee Corporation (Guardian), acquired 76 mortgages, guaranteed by the Veterans Administration (VA), which were defaulted upon. Guardian conveyed the property to the VA in accordance with 38 U.S.C. § 1832(5) (1988), and sought payment on the principal amounts. After delays of payment on the principal Guardian brought suit in the Claims Court, seeking interest under the Prompt Payment Act (PPA), 31...

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