In case you haven't heard, Irvine Housing Blog said they were are at a conference on Friday when the "OREO Managing Executive for West Region" of BofA said they would be increasing the number of foreclosures a month from 7,500 to 45,000 (this wasn't just for California).
One of the data points pointing to this statement coming to fruition can be seen in my tracking of data from Recontrust the trustee that was acquired during the Countrywide deal. They handle many of the old Countrywide (now BofA) loans.
Here are the Notice of Trustee Sales:
Here are the foreclosures made on a rolling 30 day basis:
As you can see these numbers do seem to be spiking. We shall see if this trend continues.