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.
“At the Center for Research of Contemporary Finance, we conduct research and provide continuous discourse on contemporary challenges and developments in the financial industry, with a view to bringing together diverse participants of the industry and to providing meaningful guidance to policymakers in the context of Fordham's fundamental Jesuit philosophy of critical analysis, ethics and social justice, carrying out ESG using HMDA data fits our objective perfectly. ” said Professor An Yan, Co-Director of the Center for Research. “Working with Recursion’s Cloud-based big data tools lets the faculty and student members in the research achieve the level of efficiency that we could only have previously dreamed of. We’re thrilled to all that’s to come through this joint-effort with Team Recursion.”
“By using our clean, accurate and consistent data sets as a foundation, research team at Fordham can focus on carrying ESG research to have real-life impact without carrying an intimidating technological burden,” said Richard Koss, Chief Research Officer of Recursion, who also serves as an adjunct Professor at Columbia’s SIPA. “The coalition marks a big step for Recursion in its program to get more involved in academics and education, demonstrating the power of big data technologies.”
The team will explore the socio-economic aspects and then environmental of the ESG aspects of mortgage market.
Recursion is the country’s preeminent provider of mortgage big data analytics. It has a track record of supporting federal government agencies in their efforts to monitor market trends at both a macro and individual firm level and staying on top of emerging risks by mining big mortgage data from a variety of different sources. Recursion’s mission is to democratize mortgage big data to promote transparency in the financial markets and counter the information asymmetry between big firms/monopolies and smaller organizations. Recursion is a Certified 8(a) Small Business (Economically Disadvantaged Minority Owned Small Business) and EDWOSB (Economically Disadvantaged Woman Owned Small Business).
About Center for Research of Contemporary Finance of Fordham University:
Center for Research of Contemporary Finance operates under Fordham University’s School of Business. The primary mission of the center is to conduct research and provide continuous discourse on contemporary challenges and developments in the financial industry, with a view to bringing together diverse participants of the industry and to providing meaningful guidance to policymakers in the context of Fordham's fundamental Jesuit philosophy of critical analysis, ethics and social justice. The Center provides a platform for discussion, critical analysis and exchange of ideas among practitioners, academics and policymakers on contemporary issues and challenges in the financial industry.