The effect of halted or delayed foreclosure completions and REO sales was realized in the November ABX remittance reports, according to Bank of America Merrill Lynch analysts. This was evidenced by the fact that default rates on each index were down on the month, they said.

Analysts said that the processing freezes made by banks began at the end of September. As a result, this remittance period was the first one where the full impact could be seen.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.