​On Nov. 15, 2021, the U.S. Department of Housing and Urban Development (HUD) released its fiscal year 2021 report to Congress regarding the financial status of the Federal Housing Administration (FHA) Mutual Mortgage Insurance Fund. In the statement, HUD emphasized the critical role of FHA in the U.S. housing market and its mission of providing access to credit to expand first-time and low-and-moderate-income homeownership.
 
Recursion data was cited several times in the report, notably with regards to first-time homeownership, the share of loans originated under $70K, and the Agency share of total market output. Recursion is proud that HUD recognizes Recursion’s powerful analytic capabilities in supporting FHA’s “essential role in advancing homeownership”.

​New York, NY Nov.3rd 2021 --- New York based FinTech company Recursion is teaming up with Fordham University’s Center for Research in Contemporary Finance to work on ESG aspects of mortgage market.
 
The group will utilize Recursion’s cutting edge big data tool, HMDA analyzer, that is based on HMDA data released by CFPB and FFIEC from 1990 to 2020 consisting of more than 600mm mortgage applications, originations, and purchases that is widely used to evaluable affordable housing policies in the US.  Recursion also recently introduced FHFA’s newly released fair lending dataset, such as low-income areas, minority tracts, disaster areas and rural areas to HMDA analyzer.

Recursion is teaming up with Lincoln Institute of Land Policy and Rice University to work on the Underserved Mortgage Markets Coalition project and the Social Policy Analysis Capstone Course (“SOPA”). 

Our Chief Research Office Richard Koss gave a speech at the forum Food for Thought on Wednesday, September 22 at Columbia University about housing policy changes during the Covid-19 Pandemic.
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Food for Thought is a speaker series that focuses on the Covid-19 crisis and social justice reform. Richard will discuss his paper about the policy response to the unexpected arrival of the global pandemic.

His speech paper The New Housing Policy is available to download.

Food for Thought is a speaker series that discuss the Covid-19 crisis and social justice reform at the Columbia University School of International and Public Affairs (SIPA). Our Chief Research Office Richard Koss will give a talk at this forum on Wednesday, September 22 at 12PM EST about housing policy changes during the Covid-19 Pandemic.
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“The onset of the Covid-19 Pandemic represents a massive shock impacting all sectors of the global economy. It has been particularly felt in the real estate sector as households reconsider their work/living arrangements and adjust their lives accordingly. It has also greatly exacerbated the trend towards wealth inequality. The new Biden Administration and other government agencies, notably the Federal Reserve, are engaging in innovative policy making to improve the functioning of the economy, expand access to credit and provide affordable rental housing to low-income households. What are the barriers to success facing these programs and what more needs to be done?”  
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MSCI has just released a report “Managing Against MBS Indexes: A Duration Perspective[1]” that details the reasons that the MBS Index duration extended dramatically even though the 30-year mortgage rate was little changed over the period from June 2020 – June 2021. Six main factors are examined in the article to have impacts on MBS index duration.  

​One of the main factors, the distribution of coupon drift due to record refinance activity, was documented using Recursion data.

Support of cutting-edge research is one of our proudest activities. To learn more contact us at inquiry@recursionco.com.

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We are delighted to announce our partnership with Clear Capital, a national real estate valuation and analytics fintech leader.
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Founded in Truckee, California, Clear Capital provides automated valuation and underwriting solutions for the real estate market, as well as portfolio valuations for mortgage servicers. Recursion‘s over 30 million loan-level mortgage records across hundreds of data points will help Clear Capital produce even more accurate valuation models and timely solutions. We are excited to work with Clear Capital to apply the most advanced fintech tools to address the mortgage and real estate industry’s most pressing challenges.

Read More - Press Release by Clear Capital

​Recursion’s Chief Research Officer Richard Koss published an article in Housing Wire Magazine on agency mortgage forbearance and the capital markets. When the CARES act was originally passed on March 27, 2020, there were notable concerns that these measures would merely postpone an inevitable correction in the housing market once the programs expired. However, home price appreciation came to the rescue. But the mortgage market continues to face the prospect of involuntary buyouts of loans from agency pools. Check out the details at:
https://www.housingwire.com/articles/the-end-of-forbearance-and-the-capital-markets/