Federal Deposit Insurance v. Verex Assurance, Inc.

HILL, Senior Circuit Judge:

Appellant Federal Deposit Insurance Corporation (“FDIC”) brings this appeal from the district court order granting summary judgment to Appellee Verex Assurance, Inc. (“Verex”). 795 F.Supp. 404. FDIC sought to recover sums allegedly due and owing under two certificates of insurance issued pursuant to a standard mortgage guaranty insurance policy. The district court held Verex was entitled to rescind the two certificates of insurance due to material misrepresentations contained in the application packages for the certificates. FDIC contends this judgment is erroneous.

F…