It's "99.99" time in court again.

The owners of Vinson Mortgage Services  Inc. are going to court to regain their right to do business with the federal government, specifically FHA home loans.

In a complaint filed Wednesday in U.S. District Court in St. Louis, company president Ray Shawn Vinson III of Chesterfield and vice president Kevin Vester of St. Peters are asking the court to set aside a three-year ban placed last month by the Department of Housing and Urban Development.

HUD proposed the ban in May 2015 after claiming that the company's filings with the federal government contained "errors or false information," especially in the area of the company's net worth.

The ban, which had been postponed by reviews and hearings, was put in place March 23, court records show.

Barbara A. Smith, an attorney for the company, called the federal action "a grave and serious error" in a statement.

The statement said the company wants the court to delay implementing the penalty until a "fact-finding hearing" can be held. 

Vinson Mortgage arose from American Equity Mortgage, a company once owned by the current company president's father, Ray Vinson, and his then-wife Deanna Daughhetee.

Ray Vinson became a local celebrity delivering his "99-99" sales spiel with a nasal twang on TV and in radio ads. 

When the couple split in 2006 after a well-publicized divorce case, the elder Vinson formed Vinson Mortgage Services Inc.

In 2014, Vinson Mortgage was sued by three media companies and appraisal service for owing them a total of more than $310,000.

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