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As the market adjusts to a post-pandemic norm with higher mortgage rates, housing market potential will subside from recent highs, according to First American.
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In addition to increased rulemaking and outreach, there has also been an enforcement uptick.
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Sales have declined for five straight months.
Stephen Lewis, an industry veteran with over 30 years of experience in mortgage banking, will serve as EVP.
The competition rate dipped below 50% in June for the first time since the start of the pandemic.