Center researchers contribute three chapters to a new book that reexamines the goals, risks and rewards of homeownership in the wake of the housing bubble and subprime lending crisis.

As the nation rebuilds its housing finance system, a key question is whether lending institutions have “duties to serve” (DTS) – obligations to reach out to traditionally underserved communities and borrowers – and, if so, by whom, with what and how. This paper discusses the importance of homeownership for economic opportunity and recommends reforms that will make DTS more effective.