Michael Bright is resigning as acting president of Ginnie Mae to run the Structured Finance Industry Group, a trade association that's been without a CEO since Richard Johns resigned in July amid a reported split with the group's board.

CarMax Superstores' first $1.2B-$1.5B prime loan securitization of 2019 has its lowest concentration to date of passenger vehicles in its nearly 20 years selling notes backed by receivables.

Acting Ginnie Mae President Michael Bright will leave his post on Jan. 16 and will no longer seek confirmation to be the permanent head of the mortgage secondary market agency.

The latest deal from the sponsor's DRIVE platform for deep subprime loans benefits from recent improvements in underwriting; both S&P and Moody's have lowered loss expectations.

S&P sees some potential integration risk that could materially affect the business being reinsured; in November it lowered its issuer credit ratings and financial strength ratings on Aetna.

The $748 million Navient Student Loan Trust 2019-1 looks a lot like the four FFELP deals the sponsor completed in 2018; it is backed by a mix of rehab (19.6%) and non-rehab (80.4%) loans.

Z Capital's $350M CLO can hold up to 50% of its assets in risky triple-C rated assets, giving it a wide cushion to bulk up on the growing supply of single-B loans near the CCC-rating threshold.

The agency refuted claims by the Conference of State Bank Supervisors that the OCC was overstepping its authority.

David Klass is known for his insights into tax developments in the U.K. related to Brexit; he joins the firm after more than a decade at Gide Loyrette Nouel.

The asset manager obtained a leasehold on floors 28-50 of 620 Eighth Avenue through its purchase of Forest City; the property is now encumbered by $750 million of loans from four banks.

The market has not seen a prolonged period of widening spreads since an eight-month period before early 2016, which was the launching point for a nearly two-year run of AAA spread narrowing.

Lagging construction, rising interest rates and the broader economy don't really bode well for buyers of commercial real estate, but most CRE lenders still expect originations to increase in 2019, according to the Mortgage Bankers Association.