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

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.

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

A number of mortgage companies are preparing to go public. Meanwhile, non-agency MBS issuers are churning out deals again after a slight delay.

Roughly $495 billion of residential MBS and non-mortgage ABS were issued during the second quarter of 2013, according to a new Inside MBS & ABS market analysis.

The silver lining in the 2Q numbers is a strengthening home-purchase market. Fannie and Freddie securitized $81.7 billion of home-purchase mortgages during the second quarter, their highest quarterly volume since the second quarter of 2009.

The review found that 37 percent of the mortgages were “deficient” and just 19 percent met FHA requirements.