U.S. Court of Appeals for the Sixth Circuit
Franklin Am. Mortg. Co. v. Univ. Nat'l Bank of Lawrence
Panel
The judges who heard this appeal.
- Judge Gilbert Stroud Merritt Jr.
- Senior Judge Deborah L. Cook
- Judge Joan Louise Larsen
Case history
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Dec. 6, 2018decided Decision issued in Franklin Am. Mortg. Co. v. Univ. Nat'l Bank of Lawrence
Opinions and writings
LARSEN, Circuit Judge. Franklin American Mortgage Company (FAMC) purchased two loans from the University National Bank of Lawrence (UNB) and promptly resold them to Wells Fargo. Years later, Wells Fargo discovered defects in UNB's underwriting and demanded that FAMC repurchase the loans or indemnify Wells Fargo for its losses. FAMC similarly demanded that UNB indemnify FAMC for its payments to Wells Fargo in accordan…
RECOMMENDED FOR FULL-TEXT PUBLICATION Pursuant to Sixth Circuit I.O.P. 32.1(b) File Name: 18a0263p.06 UNITED STATES COURT OF APPEALS FOR THE SIXTH CIRCUIT FRANKLIN AMERICAN MORTGAGE COMPANY, ┐ Plaintiff-Appellee, │ │…
MERRITT, Circuit Judge, concurring. I concur in the panel's approach to the indemnity aspect of this case. We conclude that "[t]he 2013 complaint was, therefore, filed well within the limitations period, regardless of whether Kansas's five-year or Tennessee's six-year limitations period applies." But we do not address whether Tennessee law recognizes a discovery rule that would toll the statute of limitations for bre…