• HOME
  • solutions
    • RECURSION ANALYZERS
    • Mortgage Company Data
    • Recursion DataCloud
    • Customized Solutions
  • BLOG
  • CLIENT LOGIN
    • Recursion Analyzers
  • ABOUT US
    • OVERVIEW
    • OUR TEAM
    • News & Events >
      • Recursion In News
      • Recursion Data Citations
  • CONTACT
RECURSION CO
  • HOME
  • solutions
    • RECURSION ANALYZERS
    • Mortgage Company Data
    • Recursion DataCloud
    • Customized Solutions
  • BLOG
  • CLIENT LOGIN
    • Recursion Analyzers
  • ABOUT US
    • OVERVIEW
    • OUR TEAM
    • News & Events >
      • Recursion In News
      • Recursion Data Citations
  • CONTACT
BLOG

Recursion Joins Consortium in Climate Risk Statement

4/23/2021

 
On January 19, the Federal Housing Finance Agency (FHFA) issued a Request for Information (RFI) on “Climate and Natural Disaster Risk Management at the Regulated Entities”[1]. This RFI was issued as “A growing body of research is studying the risks that climate change and natural disasters pose to the stability of the economy, the financial system, the national housing finance markets, and FHFA’s regulated entities.” There are two main policy topics in which FHFA is seeking comment:

  1. Identifying and Assessing Climate and Natural Disaster Risk
  • This includes the identification of “methodologies, datasets, variables, assumptions, future climate scenarios, and measurement tools are used to measure and monitor climate risk to the national housing finance markets”.​
  2. Enhancing FHFA’s Supervisory and Regulatory Framework
  • This includes the question “Are there policies the regulated entities could pursue to mitigate such adverse effects for minority borrowers exposed to climate and natural disaster risk?”

Recursion joined with a consortium of experts in this field, including the Lincoln Institute of Land Policy, the Roosevelt Institute, the Carbon-Free Buildings Program and the Vulnerable Communities Initiative Inc that submitted a comment letter to FHFA Director Calabria on April 19[2].

This letter spelled out a statement of principles that reflect Recursion’s mission of building “Data Democracy”, including:


  • Decision making must be data-driven. High-quality data is a prerequisite for any accurate analysis, projection, and decision. This includes not only quantitative statistics but also qualitative data, such as case studies, interviews and lessons learned that capture the meaning and context of information.
  • Make data free, transparent, and accessible. Government, Enterprise and FHLBank-produced data are public goods and they create maximized economic benefits when they are open. Equal access to high-quality climate-risk data helps level the playing field for the average consumer and local communities to make better decisions. Determine the specifications for disclosures of loan-level mortgage data (e.g. geography, demographics, underwriting) needed to align with climate-risk data to ensure that the information needed to accomplish climate policy goals is available. Researchers can provide valuable feedback to help maintain the dataset’s quality and improve government’s data management practices.

We are pleased to work with such distinguished colleagues on this important topic.

[1] https://www.fhfa.gov/Media/PublicAffairs/Documents/Climate-and-Natural-Disaster-RFI.pdf
[2]
Response to FHFA RFI by: Recursion, Lincoln Insititute of Land Policy, Roosevelt Institite etc​

    Archives

    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    May 2019
    March 2019
    February 2019

    Tags

    All
    Affordability
    ARM
    Bank\Nonbank
    Borrower Assistant Plan
    Cash Window
    Climate Change
    CMBS
    CMO
    Conforming Loan
    Conventional Loan
    COVID 19
    CPR\CDR\CRR\CCR
    Credit Score\DTI\LTV
    CRT\CAS\STACR
    Delinquency
    Early Buyout
    Early Payment Default
    ESG
    ET Pools
    Fannie Mae
    Fed
    FHA
    FHFA
    Forbearance
    Foreclosure
    Foreign Investor
    Freddie Mac
    Ginnie Mae
    Green Loans
    HECM
    HELOC
    HMDA
    HUD
    LMI
    Manufactured Housing
    Modified Loans
    MSR
    Multifamily
    Occupancy Type\NOO
    Partial Claim
    Payoff
    PIW
    Prepayment
    Purchase Loans
    Recursion In News
    Refi Loans
    Reperforming
    RG Pools
    Rural Housing
    Single Family
    Special Eligibility Program
    TBA Market
    TIC
    TPO
    UMBS
    US Treasury
    VA

RECURSION

SOLUTIONS ​
Recursion Analyzers
​
Mortgage Company Data
Recursion DataCloud
Customized Solutions


ABOUT US  ​
Overview
​Our team
CLIENT LOGIN   ​
Recursion Analyzers

CONTACT

224 West 30th St., Suite 303, New York, NY 10001
Contact Us

Picture
Copyright © 2022 Recursion, Co. All rights reserved.​
  • HOME
  • solutions
    • RECURSION ANALYZERS
    • Mortgage Company Data
    • Recursion DataCloud
    • Customized Solutions
  • BLOG
  • CLIENT LOGIN
    • Recursion Analyzers
  • ABOUT US
    • OVERVIEW
    • OUR TEAM
    • News & Events >
      • Recursion In News
      • Recursion Data Citations
  • CONTACT