Sigurd's mother, was daughter to Lyngheid, but if that is intended,
it may only be due to the Norse passion for genealogy. The next
fragment brings Regin and Sigurd together, and the smith takes the
young Volsung for his foster-son. A speech of Sigurd's follows, in
which he refuses to seek the treasure till he has avenged his father
on Hunding's sons. The rest of the poem is concerned with the battle
with Hunding's race, and Sigurd's meeting with Odin by the way.

The fight with Fafni is not described in verse, very little of this
poetry being in narrative form; but _Fafnismal_ gives a dialogue
between the wounded dragon and his slayer. Fafni warns the Volsung
against the hoard: "The ringing gold and the glowing treasure, the
rings shall be thy death." Sigurd disregards the warning with the maxim
"Every man must die some time," and asks questions of the dragon in the
manner of _Vafthrudnismal_. Fafni, after repeating his warning, speaks
of his brother's intended treachery: "Regin betrayed me, he will betray
thee; he will be the death of both of us," and dies. Regin returning
bids Sigurd roast Fafni's heart, while he sleeps. A prose-piece tells
that Sigurd burnt his fingers by touching the heart, put them in
his mouth, and understood the speech of birds. The advice given him
by the birds is taken from two different poems, and partly repeats
itself; the substance is a warning to Sigurd against the treachery
plotted by Regin, and a counsel to prevent it by killing him, and so
become sole owner of the hoard. Sigurd takes advantage of the warning:
"Fate shall not be so strong that Regin shall give my death-sentence:
both brothers shall go quickly hence to Hel." Regin's enjoyment of
the hoard is therefore short. The second half of the story begins
when one of the birds, after a reference to Gudrun, guides Sigurd to
the sleeping Valkyrie: