Earlier in the month, the Las Vegas Review-Journal reported that Bank of America would release 6,000 REO properties in the Vegas market though 2010 at a pace of about 500 a month.

A spokesperson for Bank of America denied the report, and told REO Insider earlier this week that the number was “an estimate used in planning for one possible scenario.”

According to the Review-Journal story, John Ciresi, vice president and portfolio manager for BofA, spoke at a panel discussion sponsored by the Nevada chapter of the National Association of Hispanic Real Estate Professionals in early January. He said the bank was taking back 11,000 to 14,000 homes a month in early 2010 – a number that could rise from 29,000 to 35,000 by the end of the year.

A spokesperson for BofA said the bank does not hold foreclosed properties off the market, and said the comments by Ciresi referred to properties being held out of foreclosure under various moratoria. Now that the foreclosure prevention programs are largely in place, such as the Home Affordable Modification Program (HAMP), the Home Affordable Refinance Program (HARP) and the Home Affordable Foreclosure Alternatives (HAFA) program –- which launches in March –- increased foreclosures could be on the way.

“The estimate provided at the Las Vegas event is just that – an estimate used in planning for one possible scenario,” according to the spokesperson. “When a foreclosure is completed, Bank of America prepares it for market and sells it as efficiently as possible. The vast majority of mortgages serviced by Bank of America are owned by third-party investors, and this is our contractual obligation.”

Write to Jon Prior.