United States of America ex rel. Farmers Home Administration v. Wilcox

OPINION

GARRETT, Judge:

The Federal Land Bank of Wichita, now The Farm Credit Bank of Wichita (Land Bank), loaned money to Robert W. Shephard and Pamela A. Shephard (Shephards). Neither Shephards nor Land Bank are parties to this appeal. As collateral for the loan, Land Bank took a first mortgage on real property owned by Shephards. L. Faye Wilcox (Appellee or Wilcox) also loaned money to the Shephards. Wilcox is Pamela Shephard’s step-mother. As collateral for her loan, Wilcox took a second mortgage on the same real property.

Shephards were unable to make a payment due to Land Bank. They…