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Subsequent Events
6 Months Ended
Jun. 30, 2013
Subsequent Events

Note 20. Subsequent Events

At June 30, 2013, we had identified for purchase $1.39 billion of residential mortgage loans that were in various stages of the origination process with third-party originators. Some of these loans may not ultimately close and, therefore, would not be available for purchase. Since June 30, 2013, and through August 5, 2013, $753 million of these loans closed and were purchased by us. During July 2013, we transferred $7 million of these purchased loans to Sequoia entities in connection with the consummation of two Sequoia securitization transactions. We expect the purchase of an additional amount of these loans to occur during the third quarter of 2013, subject to loan availability and delivery.