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Warren Buffett to Donald Trump: ‘Have you no sense of decency?’

While introducing Hillary Clinton at a presidential campaign rally in Omaha, Nebraska, on Monday, billionaire Warren Buffett challenged Donald Trump over his war of words with the family of a fallen Muslim U.S. soldier. “I ask Donald Trump: ‘Have you no sense of decency, sir?'” Buffett said, comparing the incident with the anti-communist McCarthy hearings in the 1950s. Buffett also dismissed Trump’s claim that building his business empire constituted a sacrifice, while noting that his own family had not suffered as has the family of Army Capt. Humayun Khan, who was killed in Iraq. “Me, my family . . . Trump and his family have sacrificed nothing; building buildings is not sacrifice,” Buffett said. The founder of Berkshire Hathaway also called for the Republican nominee to release his tax return. Buffett said he, like Trump, is under an IRS audit, and volunteered to meet with Trump and go over each other’s tax returns together. Buffett also urged voters to turn out in November, and said he would help drive people to the polls who otherwise would not get out to vote.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Tenet Healthcare shares slide on earnings, outlook miss

Tenet Healthcare Corp. shares declined in the extended session Monday after the hospital operator’s earnings and outlook fell well below Wall Street estimates. Tenet shares fell 5.7% to $27.25 after hours. The company reported adjusted second-quarter earnings of 38 cents a share on net operating revenue of $4.87 billion. Analysts surveyed by FactSet had estimated earnings of 52 cents a share on revenue of $4.82 billion. Tenet forecast adjusted third-quarter earnings of 10 cents to 25 cents a share, while analysts had estimated 43 cents a share.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Amkor shares jump after earnings, outlook top Street view

Amkor Technology Inc. shares rallied in the extended session Monday after the chip packaging and testing service company’s earnings and outlook topped Wall Street estimates. Amkor shares jumped 11% to $7.16 after hours. The company reported earnings of 2 cents a share on revenue of $917.3 million. Analysts surveyed by FactSet had forecast a loss of 8 cents a share on revenue of $876.2 million. Amkor forecast third-quarter earnings of 12 cents to 28 cents a share on revenue of $1.01 billion to $1.09 billion. Analysts had estimated earnings of 9 cents a share on revenue of $943 million.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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G-Fee Disparity Between Large-Small Lenders Eliminated

A disparity that had once existed between larger and smaller sellers on guarantee fees charged by the government-sponsored enterprises has been eliminated.

In general, G-Fees charged by Fannie Mae and Freddie Mac during 2015 were little changed compared to the G-Fees in place as of one year previous.

G-Fees remained similar to 2014 even though the GSEs were directed by their regulator in April 2015 to eliminate adverse market charges in place since 2008.

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From:: Financing

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Despite Drop in Underlying 1 Year Yield, MTA Up

Although the underlying yield on the one-year Treasury note has been lower lately, the Monthly Treasury Average still moved higher.

As of July 2016, the MTA was was 0.50750 percent based on a Mortgage Daily analysis of Federal Reserve Board data.

The index hasn’t been this high since October 2009, when it was 0.54417 percent. That was the lowest level on record at the time.

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From:: Financing

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Williams Cos. cuts dividend

Williams Cos. late Monday said it will cut its dividend to 20 cents a share in the third quarter, from 64 cents a share. The energy company reported a second-quarter loss of $405 million, or 54 cents a share, compared with a net income of $114 million, or 15 cents a share, in the year-ago period. Adjusted for one-time items, the company reported earnings of 19 cents a share in the quarter. Analysts polled by FactSet had expected Williams Cos. to report adjusted earnings of 22 cents a share. Williams Cos shares rose 4% in the after-hours session after ending the regular trading day down 6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Changes to ‘Know Before You Owe’ Rule on Their Way

By Susanne Dwyer

Since the October 2015 implementation of the Consumer Financial Protection Bureau’s ‘Know Before You Owe’ mortgage initiative, REALTORS® have raised red flags over challenges in gaining access to what’s known as the mortgage “closing disclosure” form, or CD. The CD is delivered to homebuyers in advance of their closing and contains important financial information related to their purchase.

Unfortunately, many lenders have chosen to withhold this document from real estate agents since Know Before You Owe went into effect, despite a longstanding tradition of sharing similar information.

Earlier this year, the Consumer Finance Protection Bureau announced that it was considering changes to Know Before You Owe – also known as the TILA-RESPA Integrated Disclosure, or TRID – including a clarification of the rules regarding sharing the CD.

Recently, the CFPB made good on that promise when it announced a proposed rule on TRID, and stated in their announcement that “the Bureau understands that it is usual, accepted and appropriate for creditors and settlement agents to provide a closing disclosure to consumers, sellers and their real estate brokers or other agents.”

The National Association of REALTORS® believes this announcement marks significant progress for consumers, as well as for its members. Giving REALTORS® access to the CD would strengthen consumers’ understanding of their mortgage and home purchase by helping agents continue to provide expert advice to their clients.

“REALTORS® have reported challenges gaining access to the Closing Disclosure ever since TRID went into effect, despite a long history of access to the substantively similar HUD-1 that is replaced,” says NAR President Tom Salomone. “The CFPB acknowledged that concern by making it clear that it is appropriate and accepted for creditors and settlement agents to share the CD with consumers, sellers and their real estate agents.

“This is a significant victory that will help REALTORS® continue to provide the expert service their clients have come to expect. We appreciate the CFPB’s willingness to reconsider the TRID-related challenges our members face and will continue to monitor the progress on this important issue in the months ahead.”

For more information, visit www.realtor.org.

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From:: Finance and Economy

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Dow, S&P 500 close lower as oil prices drop

The Dow Jones Industrial Average and S&P 500 Index closed lower Monday as oil prices slipped, while the Nasdaq Composite Index finished at its highest level in more than a year. The Dow industrials closed down 27.73 points, or 0.2%, at 18,404.51, weighed by more than 3% drops in shares of Exxon Mobil Corp. and Chevron Corp. The S&P 500 declined 2.76 points, or 0.1%, at 2,170.84, as the energy sector dropped 3.3%. Oil prices settled down 3.7% at $40.06 a barrel. The Nasdaq rose 22.06 points, or 0.4%, to close at 5,184.20, its highest close since July 21, 2015.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Oil futures end sharply lower on glut concerns

Oil futures fell sharply Monday, hit by concerns over a global supply glut. September West Texas Intermediate crude dropped $1.54, or 3.7%, to end at $40.06 a barrel. The U.S. benchmark traded below $40 for the first time since April, notching a session low of $39.82. Concerns about production by members of the Organization of the Petroleum Exporting Countries, a rise in U.S. rig counts and large gasoline stockpiles contributed to the weakness, analysts said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News