Two former executives at Washington Mutual (WaMu), who paid fines to the Federal Deposit Insurance Corp. (FDIC) last year for the thrift's "reckless" lending practices, are eyeing a return to mortgage lending.

David Schneider, who in August was named chief executive of specialty servicer Vericrest Financial, hired his former boss Steven Rotella in September to a four-member advisory board. The board was created to provide "insight and recommendations," on the nonbank servicer's strategy including plans to get back into residential lending, Schneider said in an interview.

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