Certified CDFI

Transforming the Nation One Community at a Time.

The Community Development Financial Institutions Fund (CDFI Fund) offers tailored resources and innovative programs that generate economic growth and opportunities for distressed communities around the nation. By combining federal capital alongside private funds, the CDFI can take a market-driven approach to support economically disadvantaged communities. The CDFI encourages mission-driven institutions to join this initiative and make a significant impact on these communities.

Each business financed, each job created, and each home built represents a critical step in the transformation of a life, a family, and a community.

How Are We Involved?

Filling the lending gap for the financially underserved.

While big and small lenders continue to exit the market for lending to underqualified and low-income consumers, Quontic recognized the opportunity to fill the gap and offer loans to these individuals.

Quontic’s focus on low-income, financially underserved consumers and businesses is the core to their business philosophy in customer service.

Quontic has adopted a loan process which identifies products to fit the needs of a diverse range of customers. This includes reverse mortgages (HECM’s) to low income seniors, Community Development loans, FHA loans, VA loans, and agency-eligible loans when it makes sense to take advantage of those programs.

Quontic connects eligible consumers with cost-assistance programs and frequently provides educational assistance until a person is loan-ready. In partnership with Neighborhood Housing Services (NHS), Quontic offers a downpayment assistance program. Quontic also offers up to a 2% closing cost grant for homebuyers in certain low-income census tracts and several free homeownership educational programs. Quontic also addresses the needs of prime borrowers with large financing requests.

With the success of this business strategy, Quontic continues to offer affordable mortgage products across the nation.

Flexible Underwriting

Many Americans have complicated financial circumstances that prevent consideration by traditional lenders. Flexible underwriting makes it possible for even very low-income consumers to acquire homes and income-generating properties. Non-traditional underwriting may also provide the assistance many immigrants need.

Quontic offers certain loan programs which accept alternative income and/or credit documentation and provides loan options to Individual Taxpayer Identification Number (ITIN) individuals. Quontic finds many aspiring low-income borrowers to be savers. Often, they don’t meet standard debt-to-income (DTI) criteria but can pull together substantial down-payments and fund reserves to meet additional requirements.

Quontic also accepts gifted equity from family and uses prospective rental income cash flow from the subject property for loan qualification purposes.

Flexible Loan Programs

Quontic’s Community Development Loan program is perfect for self-employed, low-income, or other consumers who can’t provide standard income documentation (W-2’s, pay stub, tax returns, etc.) and don’t meet Ability to Repay (ATR) requirements.

A High DTI, up to 100%, family gifts, and future rental income/cash-flow are acceptable for non-owner-occupied income-producing properties. Flexible lending makes credit work for families who share housing with multiple generations or pool resources to achieve property ownership.

This flexible lending model honors the diverse communities Quontic serves.

Family & Economic Impact

Quontic helps consumers with economic constraints qualify for mortgage loans and access cost assistance programs. These resources give consumers the power to improve their financial well-being through equity and rental income.

Another benefit of providing business loans to new and young firms is the creation of new jobs. This helps individuals find work who may not be served in a larger labor market.

Market Niche

As a CDFI, Quontic has more flexibility to structure safe, affordable loans to address unmet demand. Concerning business lending, Quontic has a leg-up on the competition. By offering SBA loans and access to NY CAP program, Quontic can broaden financing options for consumers.

Our Advisory Board

Combining knowledge and expertise to achieve our philanthropic mission.

Our Community Development Advisory Board’s invaluable guidance is vital in fulfilling Quontic’s mission to serve low-income families and communities. The CDAB is a combination of directors, managers, and outside financial professionals that assist Quontic in allocating the resources and services necessary to aid the needs of low-income consumers.

Chris Mayer, Ph.D

Dr. Chris Mayer, a graduate of MIT and CEO of Longbridge Financial, is committed to bringing the strategic value of reverse mortgages to today’s older Americans. He utilizes a responsible approach to help ensure a more secure retirement for low-income seniors.

Dr. Mayer has offered his paramount knowledge and expertise by testifying six times before the U.S. Congress during the United States’ financial crisis and by frequenting the pages of The New York Times, Bloomberg, Wall Street Journal, and Financial Times. He has spent more than 20 years writing pieces about housing and mortgages published in top economic journals.

Dr. Mayer previously served as Senior Vice Dean and Director of the Milstein Center for Real Estate at Columbia, and he has held positions at the Wharton School and the Federal Reserve. He currently acts as the Paul Milstein Professor of Real Estate at Columbia Business School and as the Director of the National Reverse Mortgage Lenders Association. NRMLA’s mission is to educate consumers about the pros and cons of reverse mortgages and to advise policymakers on reverse mortgage issues while training lenders to be sensitive to clients’ needs and enforcing our Code of Ethics and Professional Responsibility.

Evan Metalios

Evan Metalios has cultivated a deep understanding of Quontic’s Target Market through his business and board service to non-profit NYC support service providers that focus on disenfranchised communities. He serves his clients by providing his seasoned perspective on Loan, Audit, Governance, Executive, and IT Committees.

Mr. Metalios is an established attorney specializing in real estate and tax law for the past 30 years and is currently the CEO and owner of a long-standing brokerage firm with 50 licensed staff. He belongs to the Executive, Loan, Audit, Compensation, Nominating & Governance, and IT Quontic Board committees. He is the Treasurer and Director of Quality Services for the Autism Community—a non-profit organization dedicated to providing services to persons with autism spectrum disorders.

Saurabh Narain

Saurabh Narain has led the CDFI certified National Community Investment Fund (NCIF) as President and CEO since 2006. The NCFI—an Impact Investor established as a non-profit private equity fund that has generated more than $7 billion in development loans since 1998—reflects Saurabh’s passion for maximizing access to banking products in underserved markets.

Mr. Narain pioneered BankImpact.org to promote impact measurements for U.S. banks—which has since become an industry standard. He has also spearheaded a team that generates transactional, institutional, and permanent impact in the U.S., and maintains robust relationships among CEOs of banks, federal regulators, investors, and policy practitioners.

Over the years, Saurabh participated in policymaking and advocacy bodies by acting as a member in the Consumer Advisory Council, the Federal Reserve (2008-2010) chaired by Governor Elizabeth Duke & Chairman Ben Bernanke, the Minority Depository Institutions Council, and OTS (2009-2010).

Daniel Rowe

Daniel Rowe is a well-versed financial executive with an impressive record of catalyzing growth over decades in positions of large commercial banks like CAO and CFO. As a skilled financial analyst, Daniel has gleaned excellent administrative skills in regards to ALM strategies, Compliance, M & A management, retail bank administration, financial and investment oversight, and shareholder relations.

Mr. Rowe acted as a board director for major NYC regional health service systems that endeavor to deliver to low-income and underserved consumers. This service has allowed him to acquire profound experience in non-profit fiscal management and network collaboration.

Daniel currently serves as the chair of the Funds Management Committee and as a member of the Governance, Compliance, Executive, Audit, and Loan committees for Quontic. He is also Director of Catholic Health Services of Long Island, which follows a healing mission to provide health care to predominantly low-income communities.

Michael Wirth

Michael Wirth is an elite analyst with more than 25 years of executive-level fiscal and operational strategic management experience. Alongside Quontic CEO Steven Schnall, Mr. Wirth is the co-founder and Executive Vice President/CFO of the New York Mortgage Trust. He counsels national mission-driven organizations in regards to fiscal and FA management.

With his expertise in real estate and mortgage lending, has managed the financial integrity of $30 billion residential and commercial real estate debt and equity securities. His experience has also lead him to serve as the Independent Director, Treasurer, and Finance Committee Chairman of the Young Survival Coalition. YSC is an organization that serves national low-income constituency by providing financial assistance to low-income women who have survived or are living with breast cancer.

Currently, Michael serves on Quontic’s Executive, Loan, Audit, Funds Management & Governance Committees while also dedicating his skills to the Young Survival Coalition.

Diane Yentel

Diane Yentel, a graduate from The University of Texas, is the President and CEO of the National Low-Income Housing Coalition: a membership organization solely dedicated to achieving socially just public policy. As President and CEO of the NLIHC, Diane has cultivated over two decades of experience in housing policy and advocacy. She focuses her expertise towards ensuring that persons with the lowest incomes in the United States have affordable and decent homes.

Previously, Diane was the Vice President of Public Policy and Government Affairs at Enterprise Community Partners. It was here that she led research and advocacy programs for federal, state, and local policy. Before joining Enterprise, Diane was the Director of the Public Housing Management and Occupancy Division at the U.S. Department of Housing and Urban Development. She managed a team that oversaw the development and implementation of national public housing policies, procedures, and guidelines. Diane has also worked to advance affordable housing policies with Oxfam America and the Massachusetts Coalition for the Homeless and spent three years as a community development Peace Corps Volunteer in Zambia.

Various media outlets like The Washington Post, The New York Times, Politico, Mother Joans, NPR, and The Guardian frequently cite Diane. In addition to leading the NLIHC, Diane serves on the Board of Directors for the National Housing Conference, Homes for America, and the Coalition on Human Needs. You may read Diane’s Point of View articles from Memo to Members here, her Press Releases and Statements here, and her Letters to the Editor and Op-Eds here.

Tsedeye Tibebe

Tsedeye joined Quontic Bank in July of 2015 as the Vice President Regulatory Compliance Officer. Ms. Tibebe background includes practicing law since 2002 in the fields of Compliance, Real Estate, and Landlord-Tenant.

Ms. Tibebe is responsible for providing regulatory and legal guidance to various departments in addition to the application, implementation, and maintenance of Compliance Management System (CMS) Program and the Quontic’s regulatory compliance policies and procedures. Ms. Tibebe joins the CDFI Advisory Board in her capacity as the CRA Officer of Quontic Bank. Ms. Tibebe was assigned the CRA Officer in 2018 as the bank’s growth has transitioned the banks CRA examination criteria from Small Bank to Intermediate-Small Bank, which includes requirements of Community Development.


Loans are subject to approval. Additional eligibility requirements, terms, conditions, fees & exclusions apply. Quontic Bank is not affiliated with or acting on behalf of the Federal Housing Authority (FHA) or any government agency or government-sponsored entity. Not all products are available in all states or for all amounts.

December 17, 2021