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FANNIE MAE v. F.D.I.C.

No. 91-1866.

970 F.2d 484 (1992)

FANNIE MAE, Appellant, v. FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver for FirstSouth, F.A., Appellee.

United States Court of Appeals, Eighth Circuit.

Decided July 23, 1992.

Attorney(s) appearing for the Case

John P. Gill, Little Rock, Ark., argued, for appellant.

Randal K. Miller, Little Rock, Ark., argued, for appellee.

Before LAY, Chief Judge, WOLLMAN and HANSEN, Circuit Judges.

LAY, Chief Judge.

This is an action arising from an alleged breach of contract brought by Fannie Mae, a federally chartered, privately owned corporation that participates in the secondary residential mortgage market. The suit was brought against the Federal Deposit Insurance Corporation (FDIC) as receiver for FirstSouth, F.A. (FirstSouth), which had originally contracted with Fannie Mae to service the various mortgages. The...

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