Black Knight Financial Services released on Monday its year-end Mortgage Monitor Report, showing significant, sustained improvements in both delinquency and foreclosure numbers throughout 2013. Echoing data released in its first-look report at the end of January, the company revealed delinquency rates last year were about 1.5 times the pre-crisis average, while foreclosure rates were 4.6 times their pre-crisis level. While those percentages are still elevated, Black Knight says they're a substantial improvement from their peaks.
The company also explored the rate of recovery between judicial versus non-judicial foreclosure states, finding that judicial areas have been a bit slower to bounce back in price growth and the number of problem loans. Herb Blecker, SVP of data and analytics for Black Knight, discussed the difference in growth:
Fannie Mae's book of business shrank in December, ending a short streak of growth as new business acquisitions slowed. According to the GSE's monthly volume summary, total business contracted at a compound annual rate of 0.4% in December, bringing the full-year growth rate to negative 0.8%. The total book was valued at about $3.16 trillion as of the end of 2013.