This document summarizes a study comparing the performance of loans originated through a community lending program (CAP) versus subprime loans for borrowers with similar risk characteristics. The study found that for similar borrowers, subprime loans, adjustable-rate mortgages, loans with prepayment penalties, and loans originated by brokers had significantly higher risks of delinquency than loans from the community lending program. This suggests that reckless underwriting practices by lenders, rather than borrower risk alone, played a central role in the subprime crisis. When done responsibly, the study concludes, low-income homeownership can still be a sustainable path to asset-building.