Nonbank

Seven years after the housing bubble collapsed, Wall Street's appetite for riskier mortgages is returning.

Two independent mortgage banks agreed to settlements in the past week with the Justice Department for failing to meet Federal Housing Administration guidelines. The cases are a warning to nonbank lenders that they need to beef up self-reporting of deficiencies, and they remind large banks about the legal risks associated with FHA lending.

There are no easy fixes to Nationstar's myriad problems — including a plunging stock price and increased regulatory scrutiny — but Chief Executive Jay Bray says the turnaround starts with a commitment to improving customer service.

Poppi Metaxas, the former chief executive of Gateway Bank in Oakland, Calif., was sentenced to 18 months in prison for perpetrating a scheme involving mortgages.

Hiring by nonbank mortgage lenders stalled in October after adding new employees to their payrolls for eight straight months.

Quicken Loans will be the primary sponsor for Kasey Kahne of Hendrick Motorsports for three races during the 2016 NASCAR season.

Kal Raman has resigned as president and chief executive of Xome, the digital platform of the nonbank mortgage servicer Nationstar Mortgage Holdings.

Jeff Patmont got his home loan on his phone. The 30-year-old marketing manager for a medical-device company said he did almost everything electronically for the mortgage on his home in the San Francisco Bay Area.

Commercial mortgages bundled into securities will keep seeing their underwriting standards deteriorate from this year into 2016, said JPMorgan analysts in a report Wednesday.

A recent CFPB action against a payday lender demonstrates why lenders across industries must disclose both the best and worst case repayment scenarios to consumers.