Saturday, October 23, 2010

Recontrust trustee sales

Every week I check the Recontrust page and record how many NTS and Trustee Sales are posted. You can see the latest foreclosure moratorium affecting trustee sales. The trustee sales number is the total amount of sales over the last 30 days from the date I recorded the number.
While this will mean less REO supply over the short term I don't think it will affect sales that match. Lenders have been limiting the amount of inventory they take in and they could "play catch up" if they chose to do so. I've also noted some evidence of more pre-approved short sales and short sales coming back on market after long delays which usually means the bank is responding more. This leads me to believe that the banks have shifted idle resources to work on short sales while the moratorium is in place.

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