Federal Deposit Insurance v. McFarland

PATRICK E. HIGGINBOTHAM, Circuit Judge:

This appeal turns in part on whether the Federal Deposit Insurance Corporation (FDIC) as receiver must abide by Louisiana reinscription rules to preserve its liens. The district court determined that the mortgage and assignment held by the assignee of the FDIC, the Dennis Joslin Company (“Joslin”), lost priority status because of the FDIC’s failure to reinscribe the mortgage within the statutory period. The court found that two creditors, Bank One and David L. Jump, had valid liens that were senior to the FDIC’s interest.

In addition to its assertions…