Mortgage Lenders Network USA stops funding loans

Mortgage Lenders Network USA Inc. -- which employs 1,800 people nationwide originating and servicing Alt-A and nonconforming mortgage loans -- says it has stopped funding loans and accepting applications for new loans.

The Associated Press reports that telephone recordings at several MLN wholesale lending offices also say the lender is "exploring strategic alternatives" for its wholesale business lines. AP and Inman News were unable to reach company officials for further comment.  more...

Florida home sales, prices slide

Existing single-family home sales in Florida dropped 30 percent in November compared to the same month last year, while the median sales price fell 3 percent, the Florida Association of Realtors reported.

For the first 11 months of 2006, sales were down 28 percent compared to the same period in 2005, while prices increased 6 percent.

There were 11,912 existing single-family home sales statewide in November, and 167,545 sales from January through November.  more...

Job growth 'considerably slower' in November

A key indicator that measures job offerings in major U.S. newspaper held steady for the second straight month in November, suggesting no big changes ahead for the labor market, The Conference Board reported Friday.

The Help-Wanted Advertising Index remained at 30 in November, unchanged from October, but was still much lower than the 38 reading recorded a year earlier.  more...

Midwest home sales tumble

Home sales and prices in Ohio and Illinois fell further in November, as markets eased from their year-ago levels for the eighth straight month, according to Realtor associations in both states.

In Ohio, sales of new and existing homes totaled 10,145 in November, down considerably from 11,518 sales in October and down 7.3 percent from 10,941 sales posted a year earlier, the Ohio Association of Realtors reported.

The state's average home sales price of $147,618 is 4.4 percent below the year-ago average of $154,340.  more...

ABN Amro laying off 5% of North American workforce

ABN Amro Bank NV, the Netherlands-based parent of LaSalle Bank Corp., announced Thursday it will cut 900 jobs in North America, most of them in Chicago, where LaSalle is based.

ABM Amro employs 110,000 people worldwide, including about 3,000 at its North American headquarters in Chicago.  more...