Owning a home is so important to American families. Despite the encouraging progress that has occured over the past several years, there remains a substantial gap in home ownership rates between minority and white families. Insuring that all families have equal access to mortgage credit with fair terms and prices is an important priority for the Department's civil rights enforcement program. We think that much can be done to educate borrowers in underserved communities on the full range of choices for mortgage credit and how and where they can obtain it.
Lenders can learn, too, how better to serve all the families in their communities.
This is an important and significant endeavor and we look forward to seeing the results of the Institute's efforts. I know that if we all work together, we can expand access to our housing and mortgage markets for all Americans.