Secondary Market

Los Angeles' homebuyers have a chance to own a piece of Motown history. Located on Outpost Drive, the Hollywood Hills home once belonging to artist Marvin Gaye has been listed for $3.799 million.

Consumer confidence hit the wall in November as Americans sweat the rapidly approaching fiscal cliff, according to a survey.

Wingspan Portfolio Advisors, based out of North Texas, has been recognized as one of the fastest-growing companies in the area, the company announced. Wingspan was one of the top two recipients of the Dallas 100 Awards, marking it as the second fastest-growing privately held company in the Dallas Metroplex.

The FDIC and the Financial Crimes Enforcement Network (FinCEN) announced the assessment of $15 million in penalties against the First Bank of Delaware in Wilmington for violations of the Bank Secrecy Act (BSA) and anti-money laundering (AML) laws and regulations.

Banks continued to enjoy boosted earnings in the third quarter from increasingly strong gain-on-sale (GOS) margins.

Mortgage Insurance Companies of America (MICA), an association of private mortgage insurers, reported Monday that since 2009, its members have insured $86.9 billion in mortgages modified or refinanced through the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP) as well as in mortgages modified through other means. During the third quarter of 2012, the dollar volume of insurance written by MICA members reached nearly $11.6 billion, up 62 percent year-over-year.

Douglas Elliman is abiding by an old adage, proving that everything old is new again by adopting the company's original name. The announcement of the firm's revamped identity accompanies other updates for Douglas Elliman, including the recent launch of AskElliman, a new consumer-facing platform, and the relaunch of the company's lifestyle publication.

In October, home prices and sales increased compared to 2011 levels, while inventory remained a concern, RE/MAX revealed in a recent report. The median sales price in October 2012 stood at $158,900, a 3.7 percent decrease from September but a 2.1 percent increase from October 2011. Meanwhile, home sales posted "an impressive performance" in October, increasing both yearly and monthly despite the fact that seasonal patterns usually see a slight drop around that time.

JPMorgan Chase's leadership team is undergoing a few changes: The bank announced that effective early next year, Marianne Lake will be stepping into the role of CFO. Meanwhile, current CFO Doug Braunstein will become vice chairman of the company.

Radian Guaranty Inc., the mortgage insurance (MI) subsidiary of the Philadelphia-based Radian Group Inc., announced that it will now provide MI on loans within the HarmonyLoan platform.