NEW YORK, Dec. 7, 2020 /PRNewswire/ — Quontic, the adaptive digital bank, announced today that it has appointed Steve Thomas as a member to Quontic’s CDFI Advisory Board. As an accomplished industry veteran with over twenty-five years of housing finance experience, Thomas will join Quontic’s CDFI Advisory Board to advise the Bank regarding Quontic’s activities associated with achieving its community development goals to provide home loan financing to low-income individuals and families throughout the United States.
“We truly value the insight and expertise of an esteemed professional like Steve,” shares Steve Schnall, Founder/CEO of Quontic. “Quontic looks to the members of its advisory board to provide our team with expert insight and we’re fortunate to add Steve to the board. As we continue to stay on top of trends and understand what low-income communities need nationally, it’s vital to have expert partners that we can use as resources.”
Steve currently serves as the Senior Managing Director of Mortgage Capital Markets at the Federal Home Loan Bank of Chicago, a $98.4 billion-dollar financial institution and one of the eleven members of the $894 billion Federal Home Loan Bank System, a housing government sponsored enterprise. Thomas, alongside his team, is responsible for loan and bond mortgage-related investment acquisitions and Mortgage Partnership Finance® (MPF®) Program pricing. Prior to joining the Federal Home Loan Bank of Chicago, he served as Founder and Managing Director of the Mortgage Finance Group at CastleOak Securities, which was the top ranked minority-owned investment banking firm in residential mortgage-backed securities, commercial MBS, consumer asset-backed securities, commercial MBS, consumer asset-backed securities, Fannie Mae, Freddie Mac and Federal Home Loan Bank agency debt. Thomas serves on various non-profit boards, including The Mercy Housing-Lakefront Board, one of the nation’s largest affordable housing organizations participating in the development, preservation, management and/or financing of affordable, program-enriched housing across the country. Earlier this year, he was appointed to the National Housing Conference’s National Advisory Council where they aim to ensure safe, decent and affordable housing for all in America.
“I’m thrilled to join Quontic’s advisory board and look forward to working with Steve and the other Board Members,” shares Steve Thomas. “Quontic is providing financial opportunities to communities and individuals that are often overlooked, I’m proud to work with a team with a purposeful mission.”
Quontic is the adaptive digital bank that empowers its customers financially while embracing their diverse circumstances. Quontic’s disruptive banking platform reimagines traditional banking with adaptive lending and innovative deposit products that transcend legacy banking inequities. Quontic’s mission to break the system for financial empowerment stands in the face of big banks and proves there is a better and more equitable way to put the customer first. The bank focuses on truly understanding and serving the underdogs, entrepreneurs, gig-economy workers, immigrants, and more with a curated banking experience as opposed to a one-size-fits-all banking approach. Quontic is a privately held company based in New York, New York. Learn more at QuonticBank.com. Follow and connect with Quontic on Facebook and Instagram.