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IN RE HOMEOWNERS MORTGAGE AND EQUITY, INC.

No. 02-50954.

354 F.3d 372 (2003)

In the Matter of HOMEOWNERS MORTGAGE AND EQUITY, INC., Debtor. Jeffrey W. Hurt, Trustee of the Liquidating Trust of Homeowners Mortgage & Equity, Inc., Appellant, v. Federal National Mortgage Association and Home Securitization Trust 1 (Fannie Mae), U.S. Bank, Appellees.

United States Court of Appeals, Fifth Circuit.

December 17, 2003.

Attorney(s) appearing for the Case

Gary C. Miller (argued), D. Michael Dalton, Elizabeth Ann Wiley, Andrews & Kurth, Richard P. Keeton (argued), Nickens, Keeton, Lawless, Farrell & Flack, Houston, TX, for Appellant.

Jeffrey Scott Levinger (argued), Carrington, Coleman, Sloman & Blumenthal, Dallas, TX, for Federal. Nat. Mortg. Ass'n and Home Securitization Trust 1.

Wayne W. Bost, Winstead, Sechrest & Minick, Austin, TX, for United States Bank.

Before JOLLY, SMITH and EMILIO M. GARZA, Circuit Judges.

JERRY E. SMITH, Circuit Judge:

After unilaterally terminating a contract it entered into with Homeowners Mortgage and Equity, Inc. ("Homeowners"), the Federal National Mortgage Association ("Fannie Mae") sought to enforce a provision of the contract that required Homeowners to repurchase loans that were in breach of the contract's warranty provision. The district court summarily affirmed the bankruptcy court's decision that Fannie Mae was entitled to a claim against...

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