ICE Climate, Property and Loan-Level Datasets Provide Holistic Visibility into Broad-Based Housing Sector Risk
17 Avril 2024 - 2:30PM
Business Wire
Loan-level data tied to climate-driven
insurance costs, property taxes, estimated utility bills, as well
as property damage risk from climate events
Original ICE research on the intersection of
climate risk and home affordability to be shared at AmeriCatalyst
conference in Washington, DC
Intercontinental Exchange, Inc. (NYSE: ICE), a leading global
provider of technology and data, will be presenting original
research made possible by the integration of the company’s growing
collection of climate, property and loan-level mortgage datasets
and proprietary analytics. The research, focused on the critical
intersection of climate risk and housing affordability, will be
presented during the AmeriCatalyst Going to Extremes Leadership
Summit in Washington, DC on Thursday, April 18, 2024.
“Home affordability has been a defining challenge of the U.S.
housing market since the pandemic,” said Ben Graboske, President of
Mortgage Data and Analytics at ICE. “Until now, the focus has
mainly been the low inventory, rising interest rates and high home
prices that have been straining affordability. But the potential
impact of climate-related events – and their ripple effects - on
the true cost of ownership cannot be overlooked. That holds true
for homeowners, lenders, investors and policy makers alike.”
Leveraging vast data assets from across its Mortgage and
Sustainable Finance businesses, ICE was able to quantify a more
all-inclusive cost of home ownership. Using granular, timely loan-
and property-level data, ICE researchers aggregated anonymized
mortgage payments, property taxes, property insurance, as well as
estimated utility bills for electric, water and heating fuels for
millions of homeowners.
Combining this information with ICE’s property-level climate
risk metrics that cover more than 100M US homes will help improve
transparency and risk understanding throughout the housing finance
sector. Soon to be available via the ICE Rapid Analytics PlatformSM
(RAP) and the contributory McDash® loan-level mortgage performance
dataset, the convergence will allow users to apply ICE’s climate
metrics to individual loans, properties as well as entire
portfolios. ICE is also leveraging the combined insight to
incorporate enhanced asset-level climate risk modeling for its
existing municipal bond and mortgage-backed securities
products.
The downstream impact goes beyond raising further barriers to
homeownership for first time buyers hoping to break into the
market. Even millions of current homeowners with low fixed-rate
loans are seeing such variable costs of homeownership on the rise.
ICE’s research shows how such climate-driven factors may contribute
to housing cost burdens at every level, and drills down into where
climate risk may continue to drive cost growth.
“The nexus of climate and affordability, especially as it
relates to insurance cost, is an important topic within the housing
and securitized sector right now,” said Larry Lawrence, Global Head
of Sustainable Finance at ICE. “Insurers have been raising premiums
or, in many cases, pulling out of major markets entirely in an
effort to manage their own risks. Climate impacts may also fuel
rising utility costs, and multi-billion-dollar disasters are
contributing to rising property taxes as well, further constricting
affordability. There are no simple solutions to these problems, but
what there can be is more transparency and data to aid market
participants.”
To learn more about ICE’s Sustainable Finance offering, visit:
https://www.ice.com/fixed-income-data-services/data-and-analytics/sustainable-finance-data
To learn more about ICE Mortgage Technology, visit
https://www.icemortgagetechnology.com/
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500
company that designs, builds, and operates digital networks that
connect people to opportunity. We provide financial technology and
data services across major asset classes helping our customers
access mission-critical workflow tools that increase transparency
and efficiency. ICE’s futures, equity, and options exchanges --
including the New York Stock Exchange -- and clearing houses help
people invest, raise capital and manage risk. We offer some of the
world’s largest markets to trade and clear energy and environmental
products. Our fixed income, data services and execution
capabilities provide information, analytics and platforms that help
our customers streamline processes and capitalize on opportunities.
At ICE Mortgage Technology, we are transforming U.S. housing
finance, from initial consumer engagement through loan production,
closing, registration and the long-term servicing relationship.
Together, ICE transforms, streamlines, and automates industries to
connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual
property rights of Intercontinental Exchange, Inc. and/or its
affiliates is located here. Key Information Documents for certain
products covered by the EU Packaged Retail and Insurance-based
Investment Products Regulation can be accessed on the relevant
exchange website under the heading “Key Information Documents
(KIDS).”
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 -- Statements in this press release regarding
ICE's business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion
of additional risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see ICE's Securities and Exchange Commission (SEC)
filings, including, but not limited to, the risk factors in ICE's
Annual Report on Form 10-K for the year ended December 31, 2023, as
filed with the SEC on February 8, 2024.
Category: Fixed Income and Data Services
SOURCE: Intercontinental Exchange
ICE-CORP
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ICE Media Contact Isabella Bezzone +1 212 748 3948
isabella.bezzone@ice.com media@theice.com ICE Investor
Contact Katia Gonzalez (678) 981-3882 katia.gonzalez@ice.com
investors@ice.com
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