The Future of Homeownership

Published: September 21, 2012


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Recovering the American Dream

After years of steady progress, the homeownership rate in America has seen its biggest drop since the Great Depression. Lax lending rules and Wall Street’s lust for bad mortgages triggered a financial crisis that unraveled previous ownership gains and pushed economic security even further out of reach for millions of Americans.

Today we have an opportunity to return to a stable lending environment with rising homeownership, providing working families a path to greater economic security and prosperity. But we’re at a crossroads. Policymakers face major decisions on new lending rules and the government’s role in supporting the mortgage market. A key question: How will these policies affect homeownership opportunities for lower- and middle-income families who bore the brunt of the recent crisis?

Highlights

QRM Down Payment Rules Threaten Home Buyers—and the Economy

Refinancing: Helping Responsible Homeowners Save Money

Comments on Qualified Mortgages to the CFPB

The Impact of Dodd-Frank on Mortgage Reforms

Lending Rules & Down Payments (“Qualified Mortgages”)

Fannie Mae & Freddie Mac

The Community Reinvestment Act
Policymakers debate the future of the Community Reinvestment Act, which requires lenders to serve all of the communities in which they receive deposits. CRA was enacted by Congress in 1977.