He is in regular contact with asset managers for the largest lenders/servicers in the country. He knows what is coming his way and he’s not seeing much coming anytime soon. By that I mean he’s not getting a pile of new REO files to start processing in the next few weeks. That means he wont have piles of new REO’s coming on the market in May, June and likely July. He has been a big time REO guy in more than a couple cycles and is exceptionally good at what he does. If he’s not getting them it is very likely others arent either.
Lots of folks are blogging that there is a huge upsurge around the corner. We both agreed that it had to be coming sooner or later but the later was more likely than the sooner. Around the corner there will be more frustration not an open flow of REO’s this Spring or even this Summer. Patience is what is needed.
