Commentary: The Notices of Defaults increased slightly, but the majority of these defaults are private beneficiaries (non-bank). Of course AB284 will continually affect the numbers until the Banks can find a way to work with this new law. There was a slight increase in Notices of Sales in December but may begin to drop in the next few months since many of the Notices of Sales are determined by the Notice of Default activity. The New MLS REO listings have also dropped slightly but our hopes is that the banks will start unleashing the shadow inventory that we believe is still out there.
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