What Recursion does

Recursion Co. is a private mortgage data and analytics company headquartered in New York City that has operated since 2013 with a team of 11-50 employees. The company runs a cloud-based platform built on cleansed and standardized loan-level mortgage data drawn from multiple sources, including agency mortgage data (FHA, VA, Fannie Mae, Freddie Mac, Ginnie Mae), HMDA records, call reports, FHFA Designated Disaster Areas, and HUD LMI Neighborhood data. Its core product, Recursion Analyzers, is a set of GUI-based tools for querying billions of mortgage loan records, and is complemented by Mortgage Company Data (company-level reference data), Recursion DataCloud (direct SQL/programmatic access to selected database tables), and a Customized Solutions service line that delivers bespoke research and recurring client reporting.

The platform primarily serves policy makers and regulators, mortgage servicers, MBS trading desks, mortgage lenders, lender service providers, and mortgage-sector equity analysts. Named customers include US Bank, Dovenmuehler, Cerberus, MSCI, CREFC, the Conference of State Bank Supervisors, Housing Policy Council, AD-CO, Stavvy, the Center for Responsible Lending, and Commercial Mortgage Alert. Recursion data is cited by Bloomberg, Brookings, the Urban Institute, Columbia University, and Federal Reserve researchers, supporting a thought-leadership positioning across both commercial and policy audiences. The business monetizes through subscription-based enterprise access to Analyzers and DataCloud on annual billing cadence, with distribution via a direct client login portal and through its designation as a Fannie Mae authorized redistributor for research data.

Name

Recursion

Legal name

Recursion, Co.

Website

https://recursionco.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Recursion Co. is a private New York-based mortgage data and analytics company that provides cloud-based GUI tools and SQL access to cleansed, loan-level mortgage datasets for institutional clients, including banks, servicers, trading desks, regulators, and policy researchers.

Ownership category

akta.pro rank

Product category

Mortgage Data Analytics

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Prepackaged Software (7372)

akta.pro primary industry

Credit Risk Transfer (CRT) & Mortgage Credit Securities (CAS/STACR/ACIS) (FSALAFAH)

akta.pro secondary industries

Subservicing (Third-Party Servicing for Owners/Originators) (FSALAEAD), Fraud Detection, Identity & KYC/AML for Mortgages (FSALALAH)

Keywords

• Mortgage data analytics
• Loan-level analytics
• HMDA data platform
• Mortgage big data
• MBS analytics tools

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations

Revenue model

1. SaaS Data Analytics Subscription: Recursion Analyzers and DataCloud services provided through subscription-based client login access

Pricing tiers

Distribution channels2 records

Marketing channels4 records

Core offering

Recursion Co. provides cloud-based mortgage data analytics through GUI-based Analyzers that query cleansed, standardized loan-level mortgage data tables; Mortgage Company Data compiled from agency, HMDA, and call report sources; Recursion DataCloud, which delivers SQL/programmatic access to selected database tables; and Customized Solutions for bespoke mortgage research and reporting. The platform serves policy makers, servicers, trading desks, lenders, and equity analysts with prepay, delinquency, forbearance, EBO, and issuance analysis.

Product overview

Recursion Co is a mortgage data and analytics company offering a platform of tools and data products. The core product is Recursion Analyzers, a GUI-based querying tool for big mortgage data. This is complemented by Mortgage Company Data (company-level information from agency, HMDA, and call report sources), Recursion DataCloud (direct SQL/programmatic access to selected database tables), and Customized Solutions (custom research and reporting projects). The company serves policy makers, mortgage servicers, trading desks, lenders, and equity analysts in the mortgage industry.

Differentiator

Problem solved

Functional benefit

Products and services

• Recursion Analyzers A set of GUI-based tools used for querying meticulously cleansed and standardized big mortgage data tables, providing direct access to loan-level mortgage data for policy makers, servicers, trading desks, lenders, and analysts.
• Mortgage Company Data Company-level information compiled by Recursion from different data sources such as agency mortgage data, HMDA data, call reports and others, supporting market intelligence and competitive analysis.
• Recursion DataCloud Provides a copy of selected tables from the Recursion Cloud Database to clients who need direct access to mortgage big data using SQL and/or a programming language.
• Customized Solutions Customized projects including subject research and periodically customized reporting in the mortgage space for clients with specialized analytical needs.

Quantifiable outcome

• Loan-level analysis that previously took days can be completed in minutes using Recursion Analyzers
• +2 more outcomes

Named customers7 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• AWScoreTechnology or Integration · 1 January 2020Recursion leverages AWS cloud infrastructure to deliver its DataCloud services and analytical tools, enabling scalable access to mortgage big data
• Fannie MaecoreStrategic or Co-development PartnerRecursion is an authorized redistributor of Fannie Mae research data, integrating agency data into its mortgage analytics platform to provide comprehensive market intelligence to clients

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• ICE Mortgage Technology (formerly Black Knight): ICE's mortgage division is the largest provider of loan-level data, analytics and origination/servicing software to the US mortgage industry. It is the closest broad incumbent peer to Recursion's analytics and data aggregation offering, with far greater scale and enterprise distribution.
• Moody's Analytics: Moody's Analytics offers mortgage and structured-finance data, MBS analytics, and risk modeling to banks, asset managers and regulators. Its MBS prepayment, default and credit analytics overlap directly with Recursion's tools used by trading desks and servicers.
• S&P Global Market Intelligence: S&P Global Market Intelligence provides securitized products data, loan-level analytics, and regulatory datasets used by MBS investors, lenders and policy makers. It competes with Recursion for capital-markets and policy-research buyers of mortgage analytics.
• Cotality (formerly CoreLogic): Cotality aggregates property, mortgage and public-records data and provides analytics to lenders, servicers, capital markets participants and regulators. Its data breadth and integration with origination workflows overlap materially with Recursion's loan-level analytics platform.

Emerging players

• Mortgage Cadence (an Accenture company): Mortgage Cadence provides loan origination technology and analytics to mortgage lenders. While more origination-focused than Recursion, it competes for analytics budget and lender mindshare in overlapping mortgage technology buying centers.
• ATTOM Data Solutions: ATTOM aggregates property, mortgage, and public-record data and delivers analytics to real estate, lending and capital-markets customers. Its data-as-a-service model and emphasis on standardized property/mortgage datasets make it a comparable emerging peer.
• ComplianceEase: ComplianceEase provides mortgage compliance and analytics solutions to lenders and servicers, including loan-level quality and regulatory analytics. It overlaps with Recursion in serving the mortgage servicer and lender segments with regulatory-driven data products.
• HouseCanary: HouseCanary provides residential property valuations and mortgage market analytics powered by large-scale data and machine learning. It targets lenders, investors and servicers with similar loan-level and market-trend analytics to Recursion.

Others

• Informative Research: Informative Research provides credit reporting, verification, and mortgage technology services to lenders. It is adjacent rather than directly competitive, but operates in the same mortgage-data ecosystem and competes for lender technology spend.
• CBC Innovis: CBC Innovis is a credit reporting agency providing consumer credit data and related services to mortgage and lending customers. It is adjacent to Recursion's mortgage-data focus, operating in the broader credit-information infrastructure that supports the same buyers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Recursion