Jennifer F. Falk

Jennifer F. Falk
Loan Officer
PA License #MLO-26790
NMLS # 141592
Branch NMLS # 604653
(click links above to check licenses)

Direct: 717-731-9703
Mobile: 717-877-8658
Fax: 717-731-9705

3920 Market Street, Ste. 202
Camp Hill, PA 17011

Questions? Call Jennifer F. Falk at 717-731-9703.
We are always available to help make sense of the market.

Mortgage News Daily News Feed


MBS RECAP: FOMC Announcement Wholly Overshadowed by GDP

Posted To: MBS Commentary

Tonight's theme: "not many." It's not many times that GDP will crack 4% after being down more than 2% in the previous quarter, but it did today. But that's because it's not many times that the US economy will grow at 3.5% in one quarter and then drop to -2.9% in the following quarter, all the while with job creation averaging over 200k, but it did that from Q4 2013 to Q1 2014 (i.e. something was wrong with that picture, and as we've discussed, it set today's result up to be much bigger). Finally, it's not many times that an FOMC Announcement will be second fiddle as a market mover, but it was today, because of all of the above. Less cryptically now... Bond markets tanked right after GDP and never looked back. The damage was fairly severe in the context...(read more)

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Mortgage Rates Highest in More Than a Month After GDP

Posted To: Mortgage Rate Watch

For weeks, we've discussed the prospects for increased volatility centered on today's economic calendar. The chances of a bigger move were much higher going into today's GDP data, and a bigger move is exactly what we got. Unfortunately, it was in an unfriendly direction. GDP was significantly stronger than expected, which caused an equally significant amount of weakness in the secondary mortgage market. With the data released at 8:30am and most lenders not putting out their first rate sheets until after 9am, mortgage rates shot rapidly higher right out of the gate. Bond markets (which include the mortgage-backed-securities or "MBS" that most directly affect mortgage rates) continued to weaken throughout the day, and never really leveled-off until 1-2pm. When MBS fall enough during the day,...(read more)

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California Realtors get Heads-Up on Short Sale Complications

Posted To: MND NewsWire

A short sale program for properties serviced by Nationstar, which bills itself as one of the nation's largest independent loan servicers, is the subject of a new member advisory from the California Association of Realtors (C.A.R.). C.A.R. is acquiescing to the program about which it has been in talks with the servicer for the last year but which it has been told by the California Bureau of Real Estate (BRE) does not violate any laws. Nationstar requires most of its mortgaged properties to be listed on auction.com before a short sale is finalized. The company says it utilizes this business model as a verification system to insure owners receive the best possible price. As a practical matter all potential short-sale properties are put through the appropriate MLS by their listing agents just as...(read more)

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Homeownership at 19 Year Low

Posted To: MND NewsWire

The rate of homeownership in the U.S. continued to slide in the second quarter of 2014, reaching a 19 year low . The Commerce Department said that the seasonally adjusted homeownership rate fell to 64.8 percent during the quarter, down 0.1 percentage point from the first quarter and 0.3 points compared to the second quarter of 2013. The recent rate was the lowest for the statistic since the second quarter of 1995. Homeownership peaked at 69.4 percent in the second quarter of 2004 and stayed within a range of 68.0 and 69.0 over the next 13 quarters before falling below 68.0 in the fourth quarter of 2007. While there have been quarterly ups and downs the homeownership rate has eroded at a fairly steady rate since then. Homeownership was highest in the Midwest at 69.6 percent, 0.3 percentage points...(read more)

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Differences Between Past and Current FOMC Statements

Posted To: MBS Commentary

Release Date: June 18, July 30, 2014 For immediate release Information received since the Federal Open Market Committee met in April June indicates that growth in economic activity has rebounded in recent months. the second quarter. Labor market indicators generally showed further improvement. The conditions improved, with the unemployment rate, though lower, rate declining further. However, a range of labor market indicators suggests that there remains elevated. significant underutilization of labor resources. Household spending appears to be rising moderately and business fixed investment resumed its advance, is advancing, while the recovery in the housing sector remained remains slow. Fiscal policy is restraining economic growth, although the extent of restraint is diminishing. Inflation...(read more)

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