BOA to increase foreclosure rate from 7500 per mo. to 45000 per mo.

[sdrealtor]

I dont know about foreclosures but BOA finally seems to be starting to get a handle on processing short sales. They have implemented systems that are dramatically reducing turn times. I think they have finally developed the capability to do this over a long time and effort rather than a decision at at any tipping point to do so.

[outtamojo]

JTR’s blog has a blurb on this “Tip-Toe to the Exits?”

Tip-Toe to the Exits?

“Hat tip to JimG for leaving this comment yesterday:

Really can’t say if this is a one day event or will be something more but LPS, who is a outsourcer of REOs for many banks just dropped 609 REOs in California today, all from Bank of America. Guess that means BAC has been sitting on foreclosed properties and who knows how many they have in their little piggy bank. About 40 of the 609 are in San Diego County today. Normal California daily assets for LPS is around 20-30 as a point of reference with 2 to 3 in San Diego County…”

[outtamojo]

JTR’s blog has a blurb on this “Tip-Toe to the Exits?”

Tip-Toe to the Exits?

“Hat tip to JimG for leaving this comment yesterday:

Really can’t say if this is a one day event or will be something more but LPS, who is a outsourcer of REOs for many banks just dropped 609 REOs in California today, all from Bank of America. Guess that means BAC has been sitting on foreclosed properties and who knows how many they have in their little piggy bank. About 40 of the 609 are in San Diego County today. Normal California daily assets for LPS is around 20-30 as a point of reference with 2 to 3 in San Diego County…”

[outtamojo]

JTR’s blog has a blurb on this “Tip-Toe to the Exits?”

Tip-Toe to the Exits?

“Hat tip to JimG for leaving this comment yesterday:

Really can’t say if this is a one day event or will be something more but LPS, who is a outsourcer of REOs for many banks just dropped 609 REOs in California today, all from Bank of America. Guess that means BAC has been sitting on foreclosed properties and who knows how many they have in their little piggy bank. About 40 of the 609 are in San Diego County today. Normal California daily assets for LPS is around 20-30 as a point of reference with 2 to 3 in San Diego County…”

[outtamojo]

JTR’s blog has a blurb on this “Tip-Toe to the Exits?”

Tip-Toe to the Exits?

“Hat tip to JimG for leaving this comment yesterday:

Really can’t say if this is a one day event or will be something more but LPS, who is a outsourcer of REOs for many banks just dropped 609 REOs in California today, all from Bank of America. Guess that means BAC has been sitting on foreclosed properties and who knows how many they have in their little piggy bank. About 40 of the 609 are in San Diego County today. Normal California daily assets for LPS is around 20-30 as a point of reference with 2 to 3 in San Diego County…”

[outtamojo]

JTR’s blog has a blurb on this “Tip-Toe to the Exits?”

Tip-Toe to the Exits?

“Hat tip to JimG for leaving this comment yesterday:

Really can’t say if this is a one day event or will be something more but LPS, who is a outsourcer of REOs for many banks just dropped 609 REOs in California today, all from Bank of America. Guess that means BAC has been sitting on foreclosed properties and who knows how many they have in their little piggy bank. About 40 of the 609 are in San Diego County today. Normal California daily assets for LPS is around 20-30 as a point of reference with 2 to 3 in San Diego County…”

[an]

40/day = 14600/year. That would definitely make a big dent.

[an]

40/day = 14600/year. That would definitely make a big dent.

[an]

40/day = 14600/year. That would definitely make a big dent.

[an]

40/day = 14600/year. That would definitely make a big dent.

[an]

40/day = 14600/year. That would definitely make a big dent.

[sdrealtor]

In the comment section of that post it said it was a one day event and hasnt been repeated.

FWIW, we have been getting written deficiency releases from BOA for several months. They Equator system that they implemented also seems to be cutting processing times for short sales with them dramatically. It looks like a case of not having the capacity and developing it over time.

[sdrealtor]

In the comment section of that post it said it was a one day event and hasnt been repeated.

FWIW, we have been getting written deficiency releases from BOA for several months. They Equator system that they implemented also seems to be cutting processing times for short sales with them dramatically. It looks like a case of not having the capacity and developing it over time.

[sdrealtor]

In the comment section of that post it said it was a one day event and hasnt been repeated.

FWIW, we have been getting written deficiency releases from BOA for several months. They Equator system that they implemented also seems to be cutting processing times for short sales with them dramatically. It looks like a case of not having the capacity and developing it over time.

[sdrealtor]

In the comment section of that post it said it was a one day event and hasnt been repeated.

FWIW, we have been getting written deficiency releases from BOA for several months. They Equator system that they implemented also seems to be cutting processing times for short sales with them dramatically. It looks like a case of not having the capacity and developing it over time.

[Author]

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