New York Guardian Mortgagee Corp. v. The United States

COWEN, Senior Circuit Judge.

Appellant, New York Guardian Mortgagee Corporation (Guardian), acquired 76 mortgages, guaranteed by the Veterans Administration (VA), which were defaulted upon. Guardian conveyed the property to the VA in accordance with 38 U.S.C. § 1832(5) (1988), and sought payment on the principal amounts. After delays of payment on the principal Guardian brought suit in the Claims Court, seeking interest under the Prompt Payment Act (PPA), 31 U.S.C. §§ 3901-3907(a) (1988). The Claims Court dismissed for failure to state a claim upon which relief can be granted. New York…