Over the past two years, lenders have taken title to property securing over $27.3 billion of commercial mortgages and have sold just $5.3 billion of that, leaving current inventories of REO at roughly $22 billion. But REO inventories have started to increase rapidly with $8 billion added in the last quarter alone and more of it is being offered for sale as well. However, with REO sales totaling just $2 billion in Q4’09, dispositions are still well below inflows into REO.
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