A few days the megabanks will reveal 2Q earnings, letting us know how gain-on-sale margins are holding up.

Agency MBS accounted for 98 percent of credit union investments in mortgage securities, according to Inside MBS & ABS.

New report sheds light on how much nonbank mortgage workers earn.

As with previous MBS issued by Springleaf, the mortgages in the security were originated by firms owned by Fortress Investment Group.

The sale price breaks down as follows: $2.43 billion for the servicing advances and $241 million for the MSRs.

Citigroup, which runs an active NPL trading desk, acquired the assets from a large money-center bank.

The suit was filed in December 2012 on behalf of hundreds of thousands of investors who bought stock in an offering by Fannie in May 2008, four months before the GSE was taken over by the government.

Most banks carry their MBS in the “Available for Sale” accounting category, carried on the balance sheet at fair value.

Mortgages modified by Fannie Mae and Freddie Mac performed about the same for a year after modification but Freddie’s loans had a slightly worse performance starting some 18 months after modification, according to the Office of the Comptroller of the Currency. The OCC Mortgage Metrics Report for the First Quarter of 2013 noted that Fannie and Freddie loans each had a 17 percent re-default rate six months after modification. The two GSEs were similarly tied at the 12-month mark, each posting a 24.4 percent re-default rate. Daylight begins to crack between the two GSEs at 18 months, with Fannie’s rate at an even 28.0 percent compared to Freddie’s 28.2 percent. At 24 months, Fannie’s mods saw a 29.4 percent re-default rate compared to Freddie’s 29.9 percent. The gap widens at 36 months when Fannie stood at 35.2 percent compared to Freddie’s 36.3 percent rate.

A sharp downturn in refinance activity reduced Fannie Mae’s and Freddie Mac’s business volume during the second quarter of 2013, but the GSEs posted their strongest quarter in purchase-mortgage activity in four years, according to a new Inside The GSEs analysis. Fannie and Freddie issued $337.74 billion in single-family mortgage-backed securities during the second quarter, a 5.1 percent decline from the first three months of the year. The decline put an end to an upward trend in GSE production that took hold during the third quarter of 2012. Despite this, Fannie and Freddie business was up 20.0 percent over the first six months of last year.