Federal Deposit Insurance Corporation v. Steven M. Rayman

HARLINGTON WOOD, JR., Circuit Judge.

When he signed the guaranty for his $525,-000 land purchase loan back in 1969, promising to pay the holder of the note if the loan went into default, Defendant-Appellant Steven Rayman surely had no idea that nearly thirty years later the loan would still be unpaid and that he would owe nearly twice its amount. In this case, Rayman appeals the district court’s grant of summary judgment in favor of Plaintiff-Appellee Federal Deposit Insurance Corporation (FDIC) 1 in its suit to collect on the loan. He claims that genuine issues of material fact exist as to…