Federal Deposit Insurance Corp. v. Farrar

MOORE, Chief Justice.

Defendant Foster Wayne Farrar (Farrar) appeals from deficiency judgment entered on promissory notes executed by him and held by plaintiff Federal Deposit Insurance Corporation (FDIC), as Receiver of State Bank of Prairie City (State Bank).

In Division I of its petition FDIC sought a deficiency judgment of $1694.42, plus interest, on the note secured by Farrar’s mobile home and in Division II a deficiency judgment of $445, plus interest, on the note secured by Farrar’s automobile. FDIC further prayed for statutory attorney fees and costs.

Farrar’s answer alleged, inter alia,…