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WESTERN SECURITIES CO. v. DERWINSKI

No. 90-3052.

937 F.2d 1276 (1991)

WESTERN SECURITIES COMPANY, A SUBSIDIARY OF UNIVERSAL MORTGAGE CORPORATION, Plaintiff-Appellant, v. Edward J. DERWINSKI, Secretary of Veterans Affairs, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided July 25, 1991.

Attorney(s) appearing for the Case

Dean B. Richards, Thomas L. Jacobs, George A. Coulter, Gray & End, Milwaukee, Wis., for plaintiff-appellant.

James L. Santelle, Asst. U.S. Atty., Office of the U.S. Atty., Milwaukee, Wis., for defendant-appellee.

Before POSNER, FLAUM, and EASTERBROOK, Circuit Judges.

POSNER, Circuit Judge.

Western Securities Company made a $73,000 home mortgage loan to a veteran in 1980. The Veterans' Administration (now the Department of Veterans Affairs) guaranteed a portion of the loan. The veteran later sold the property to Becky Shaw, who resold it to a couple who defaulted on the mortgage. Western notified the Veterans' Administration of intention to foreclose on the mortgage. The Administration responded by notifying Western that Western...

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