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BEAL MORTG., INC. v. F.D.I.C.

Nos. 97-5016, 97-5029.

132 F.3d 85 (1998)

BEAL MORTGAGE, INCORPORATED, f/k/a BSB Mortgage, Inc., Appellee/Cross-Appellant, v. FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver for Bell Federal Savings Bank and Federal Deposit Insurance Corporation, as Manager for the FSLIC Resolution Fund, Appellants/Cross-Appellees.

United States Court of Appeals, District of Columbia Circuit.

Decided January 9, 1998.

Rehearing Denied March 2, 1998.

Attorney(s) appearing for the Case

Lawrence H. Richmond, Counsel, Federal Deposit Insurance Corporation, argued the cause for appellants/cross-appellees, with whom Ann S. DuRoss, Assistant General Counsel, was on the briefs.

Charles A. Gall argued the cause for appellee/cross-appellant, with whom James W. Bowen, Amy Loeserman Klein and John McJunkin were on the brief.

Before: GINSBURG, SENTELLE and TATEL, Circuit Judges.

SENTELLE, Circuit Judge:

Beal Mortgage, Inc. ("Beal") brought suit under a contract with the Resolution Trust Corporation, later assumed by the Federal Deposit Insurance Corporation ("FDIC"), to purchase for over $7 million several mortgages and real properties of a failed institution taken over by the agency. After stipulation by the parties as to certain facts, the district court granted summary judgment for Beal, holding that the contract obligated the FDIC to...

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