Quontic Bank DSCR Review 2026: Orders Ended, Off CDFI List

Updated October 21, 2026 — both enforcement orders are terminated, Quontic Bank is no longer on the Treasury's certified-CDFI list, and the financials are from June 30, 2026. Orders: the OCC ended the October 5, 2022 Consent Order (docket AA-ENF-2022-25) effective June 30, 2026, stating that the Bank’s safety and soundness and its compliance with laws and regulations “does not require the continued existence of the Order” (OCC order AA-ENF-2026-36); Quontic announced it on July 16, 2026 (press release). The Federal Reserve Board announced on September 4, 2026 that the July 5, 2023 Written Agreement with Quontic Bank Acquisition Corp. and Quontic Bank Holdings Corp. was terminated on September 2, 2026 (Fed release). The earlier 2018 OCC agreement had already been replaced in 2022. CDFI status: the CDFI Fund’s published lists of certified CDFIs show Quontic Bank and Quontic Bank Holdings Corp as of April 10, 2025, November 24, 2025 and January 13, 2026; neither appears on the list as of June 10, 2026 (1,254 institutions) or as of October 21, 2026 (1,268 institutions). We found no list dated between January 13 and June 10, 2026 and no document that gives a date or a reason, so we state neither. Quontic’s wholesale DSCR page, as archived April 19, 2026, still says “As a CDFI, we serve the underbanked”; that is the bank’s own wording, and Quontic’s website blocked our direct access (bot check), so ask Quontic in writing what it holds today. We therefore removed the CDFI from the title and from the claims below. Balance sheet (FDIC BankFind, June 30, 2026): assets $787.0M (we had $832-853M, the March 31 figure), deposits $693.9M, equity $86.4M, net loans $613.2M; FDIC lists one office, in Astoria, and the OCC says the sole branch closed in August 2021, so our earlier “3 physical branches” is removed (FDIC). CRA: the OCC’s evaluation dated June 23, 2025 (lending test and community development test both Satisfactory) replaces our statement that December 2018 was the latest (evaluation). People: the July 16, 2026 release calls George Lazaridis Chief Executive Officer and Robert Russell President; we did not find when the interim label ended. HMDA 2025 (CFPB data browser, our count): 2,139 application records, 1,190 originated, of which 119 are business-purpose loans on investment properties ($57.5 million). CFPB: a search for Quontic in the complaint database returned 0 complaints on October 21, 2026. Down payment: Quontic’s DSCR page (archived June 18, 2026) says “a down payment of at least 25%”; the 20% figure is only the foreign-national program’s “as little as” wording.

Why this review exists

Quontic Bank is an FDIC-insured DSCR lender (we also review NASB, CFBank, 1st Security Bank and Farm Bureau Bank). That structural fact deserves a forensic review that treats it honestly — including the regulatory orders, terminated in 2026, that aggregator reviews either ignore or whitewash. Most online Quontic content focuses on the consumer Bitcoin Rewards Checking product or on the high-yield savings account. The investor DSCR product, and the question of whether Quontic still holds a U.S. Treasury CDFI certification (the CDFI Fund list no longer shows it), is under-covered by competitor reviewers.

This review corrects those gaps using primary sources: FDIC BankFind, OCC enforcement action archives, Federal Reserve press releases, OCC CRA Performance Evaluation PDFs, American Banker and Banking Dive enforcement coverage, Quontic's own current product pages at quontic.com and quonticwholesale.com, the Quontic CDFI Fund page, BBB profile data, Trustpilot reviews, the CDFI Fund’s published lists of certified CDFIs, the OCC’s 2026 termination order and the Federal Reserve’s September 4, 2026 release. We have no affiliate relationship with Quontic Bank or its parent holding companies. We earn nothing if you open an account, apply for a mortgage, or close a DSCR loan. Every link to quontic.com or quonticwholesale.com in this article is a generic destination URL.

1. Institutional facts

Charter class matters for the investor product story. Federally chartered savings banks (thrifts) operate under different asset-concentration rules than national commercial banks — specifically, OCC thrift rules favor 1-4 family residential mortgage holdings. This structurally aligns Quontic's balance sheet with portfolio retention of DSCR investor loans. The bank does not need to package DSCR loans for securitization the way a non-bank lender would; the federal thrift charter is built around long-tenor portfolio mortgages.

Aggregator-versus-primary distinction to flag: Do NOT describe Quontic as a "national bank." It is a federally chartered savings bank — a thrift. This matters for investor regulatory understanding and for honest comparison to peers.

2. DSCR product details (verified from quontic.com + quonticwholesale.com)

Retail DSCR Loan (quontic.com/mortgages/non-traditional-loans/dscr/)

Wholesale DSCR (quonticwholesale.com/investor-dscr/)

• Same 1.10x DSCR floor, $2M cap, 75% LTV, 680 FICO as retail
• Cash-out cap: $500,000 cash in hand — key constraint versus Visio Lending (no published cap), Kiavi (varies)
• Loan term options: 5/6 ARM, 7/6 ARM, 15-year fixed, 30-year fixed
• Interest-only option available (qualifies on the IO payment)
• Eligible: 1-4 units, condos, PUDs on standard DSCR program
• Separate program: "DSCR Mixed-Use & Multi-Family" for 5+ unit and mixed-use — terms via loan officer disclosure only
• Separate program: "Investor Foreign National DSCR Plus"

What Quontic does NOT publicly disclose

• Specific rate ranges — Quontic directs all rate inquiries to "speak with a loan officer"
• Prepayment penalty structure
• Points and fees schedule
• Reserves requirement (footnote says "subject to loan amount" — opaque)

This rate-transparency gap is material. Comparison-shopping versus Visio Lending's published rate sheets or Kiavi's online quote tool requires a Quontic loan officer phone call. For a borrower comparing six lenders, that is added friction.

Foreign National Mortgage (quontic.com/mortgages/non-traditional-loans/foreign-national/)

This is a real differentiator in scope: a foreign-national program with a disclosed list of what is not required (reference letters). We can no longer compare its LTV with Velocity Financial’s 65% cap because the 80% figure is not on Quontic’s own page; many DSCR lenders do not have a published foreign national program at all.

ITIN Mortgage (quontic.com/mortgages/mortgage-prequalify-itin/)

• Accepts ITIN in lieu of SSN
• No tax returns, W-2s, or bank statements required
• 100% gift funds OK for down payment and closing costs
• Primary residence only — NOT investment property

The ITIN program is distinct from the DSCR program. Quontic is one of very few banks with both a foreign national investor mortgage AND an ITIN primary-residence mortgage under one roof.

3. Regulatory record — two orders, both terminated in 2026

This is the most important section of this review. Earlier versions of it called three orders open; two of those orders have now been terminated by the regulators that issued them, and the 2018 agreement was already superseded in 2022. Sources: OCC enforcement documents, Federal Reserve press releases, American Banker, Banking Dive and S&P Global for the history.

Status: the OCC terminated the 2022 Consent Order effective June 30, 2026 (order signed June 30, 2026), and the Federal Reserve terminated the 2023 Written Agreement on September 2, 2026 and announced it on September 4, 2026. We did not find another enforcement order against the bank or its two holding companies in those documents. Our May 2026 statement that neither order had been terminated was correct at the time and is now superseded.

Capital response: Quontic Bank Acquisition Corp. injected $8 million in a private placement (per Quontic's own press release). President Robert G. Russell, Jr. publicly stated that total capital ratio was “above 20%” by March 31, 2023. FDIC BankFind shows a Tier 1 leverage ratio of 9.73% at June 30, 2026. In its July 16, 2026 release Quontic describes the termination as reflecting “successful completion of comprehensive remediation efforts”; that is the bank’s characterization, while the OCC’s order gives only the finding quoted above.

Civil litigation:

• TCPA (Telephone Consumer Protection Act) class action. Bloomberg Law: "Consumer Advances Spam Call Class Action Against Quontic Bank." A federal court allowed a proposed class to proceed against Quontic over four marketing calls made in June 2019 to a residential line. Status: active proceeding.
• Universal Lending Depot, LLC v. Quontic Bank (2024 N.Y. Slip Op 33170(U)) — a New York commercial dispute, not a borrower class action.

BBB. Quontic Bank is NOT BBB-Accredited. Mortgage-related complaints visible 2025-2026 with patterns around loss mitigation, modification disputes, and documentation requests. Specific complaint count not extractable in our research due to BBB-side rate limiting.

Trustpilot. Approximately 4.0 stars across 600+ reviews. Positive themes around named loan officers. Negative themes around app/notification reliability and account openings that were denied.

CFPB Consumer Complaint Database: on October 21, 2026 a search of the database for “Quontic” returned 0 complaints, while the same query method returned 21 for Visio Lending. A zero can mean the bank is not a participant in the database by that name or that complaints are filed under a different company name, so treat it as “none found under the Quontic name”, not as proof of no complaints. Manual check: consumerfinance.gov complaint search.

4. The CDFI record — listed through January 2026, not listed since June 2026

The earlier version of this review built its main argument on Quontic being a Treasury-certified CDFI. The CDFI Fund’s own lists no longer support that, so this section now records what the documents show.

What we cannot tell you: the date of the change (it falls between January 13 and June 10, 2026 on the lists we found), whether it is final, or the reason. Nothing we read states a reason, and we do not guess. We also could not open quontic.com (its bot check blocked our access), so we do not know what the bank’s current CDFI page says; ask Quontic in writing whether it holds a current certification before relying on any CDFI-based feature.

What this changes for DSCR investors: the earlier version argued that a CDFI’s 60% target-market requirement gave Quontic an incentive to approve investor loans in low- and moderate-income census tracts, and called this a tailwind no other DSCR lender has. We have withdrawn that argument. It depended on a certification the CDFI Fund list no longer shows, and nothing on Quontic’s retail or wholesale DSCR pages that we read promises easier approval in LMI tracts. If your deal is in an LMI or Qualified Census Tract, ask Quontic directly whether the location changes underwriting or pricing.

Earlier award: our earlier research recorded a $1.825 million CDFI Rapid Response Program award from the U.S. Treasury in 2021; we did not re-check it in this update.

5. Capital markets / balance sheet positioning

• Quontic holds DSCR loans for portfolio — consistent with thrift charter and a small asset base of approximately $787 million (June 30, 2026). FDIC BankFind shows net loans of $613.2 million against deposits of $693.9 million.
• No public Morningstar DBRS or KBRA securitization shelf under Quontic Bank's name surfaced in our research. Quontic is NOT a securitization sponsor like Angel Oak, Verus Mortgage, Velocity Financial, or Visio Lending's Beach Point Trust shelf.
• FHLB borrowings: Not specifically broken out in aggregator call-report mirrors, but the bank IS an FHLB member as standard practice for federal thrifts.
• Allowance for credit losses: FDIC BankFind (June 30, 2026) shows a loan and lease allowance of $1.217 million against gross loans of $614.4 million. Our earlier “5.81% coverage” figure could not be reproduced from FDIC data and is withdrawn.

Strategic implication for the article reader: A borrower benefits from a hold-to-maturity lender that does not have to package loans for sale at the next securitization window. Pricing and terms should not be at the mercy of capital markets the way a securitization-funded lender's pricing is. BUT the small ~$787M balance sheet means Quontic physically cannot scale DSCR volume the way Visio Lending (#1 by 2024 Scotsman submitted volume at $854.6M — alone bigger than Quontic's entire balance sheet) can. The choice between Quontic and Visio is a structural one: portfolio retention with a small institution, or securitization-funded scale with a private lender.

6. Bitcoin product — still active, NOT connected to DSCR

• Bitcoin Rewards Checking launched October 2020 with NYDIG + FIS — first-ever FDIC-insured Bitcoin rewards checking account. Still active as of 2026 per FinanceBuzz, MyBankTracker, and Bankrate reviews. 1.5% BTC rewards on debit card purchases. No monthly fees.
• No Bitcoin-collateralized lending program found in Quontic's product matrix.
• No link between crypto income and DSCR underwriting — Quontic's DSCR is property-cash-flow-based (rental income only), and the bank does NOT accept crypto-derived income for investor-loan underwriting. The article should be explicit on this to forestall reader misconception.
• Pay Ring contactless wearable (launched 2022) and Metaverse outpost (2022) — marketing/strategic signals of an innovation-first brand identity even while operating under enforcement orders.

7. Competitive positioning

Where Quontic WINS:

• FDIC depository + portfolio retention + first-time-investor friendliness + a foreign national program under one roof. Quontic is a regulated FDIC depository and a portfolio holder of its DSCR loans; it is no longer on the CDFI Fund’s certified list.
• No regulatory orders open after the OCC and Federal Reserve terminations of June 30 and September 2, 2026 (as far as the documents we read show).
• A published foreign national program with reference letters not required; Velocity’s 65% LTV cap is public, while Quontic’s foreign-national LTV is not on its own page.
• ITIN primary-residence program under the same institution.
• One office, in Astoria, plus an online-first model; the bank closed its only branch in 2021 per the OCC.

Where Quontic LOSES:

• Speed. No AI underwriting like Kiavi. 30-45 day timeline versus Kiavi's under 21 days.
• Max loan size. $2M-$2.5M cap versus Angel Oak's $3.5M+ — Quontic cannot service a 10-property buyer financing $20M+. Kiavi's website (read October 23, 2026) states no maximum on its DSCR loan page and advertises Jumbo loans up to $5 million for fix-and-flip, new construction and bridge deals.
• Scale. Cannot grow volume the way securitization-funded lenders can.
• DSCR floor of 1.10x — tighter than Visio's 1.0x case-by-case sub-1.0 ability.
• Rate, prepay, points, reserves all opaque behind "speak to a loan officer."
• Recent enforcement history (orders from 2018, 2022 and 2023, all now ended) is still a fact to weigh, but no longer a live restriction.

8. Risk factors a borrower should price

Five non-obvious risks worth honest disclosure:

1. Enforcement history, now closed. The 2022 OCC Consent Order was terminated effective June 30, 2026, and the 2023 Federal Reserve Written Agreement on September 2, 2026. A bank that needed three regulatory actions in five years (2018, 2022, 2023) is a fair thing to weigh, but the restrictions are lifted.

2. Leadership. Founder Steven Schnall died in a motorcycle accident in August 2022. Quontic’s July 16, 2026 press release gives George Lazaridis the title Chief Executive Officer (not interim) and Robert G. Russell, Jr. the title President (named President on August 10, 2023). We did not find the date the interim label ended.

3. CDFI status. The CDFI Fund list no longer shows Quontic (listed January 13, 2026; not listed June 10 or October 21, 2026). Do not assume CDFI-linked features such as LMI-tract flexibility; Quontic’s DSCR pages promise none.

4. Transparency. The OCC’s CRA evaluation of June 23, 2025 (Satisfactory) covers 2021-2023, so it is dated; rates, prepayment terms, points and reserves are still not published.

5. Scale. Quontic retains loans on its balance sheet ($613.2 million net loans, $787.0 million assets at June 30, 2026), so rate stability is a plus, but the small asset base means it cannot grow DSCR volume the way non-bank securitizers can.

9. Who Quontic is the right fit for

Apply to Quontic if you are:

• An investor who can accept a bank-charter DSCR lender that retains loans; if your deal is in an LMI or Qualified Census Tract, ask Quontic directly because the CDFI-based argument in our earlier version is withdrawn
• A foreign national who needs a program for borrowers with no US credit history (ask for the LTV in writing; the 80% in our earlier version is not on Quontic’s own page)
• A first-time investor wanting a DSCR loan from a regulated FDIC depository (other DSCR lenders are cautious on first-timers)
• A borrower who values portfolio retention over securitization-driven pricing volatility — your lender will hold the loan to maturity rather than packaging it for the next ABS deal
• An ITIN borrower needing a primary-residence mortgage (separate program from DSCR — note the difference)
• A borrower who is comfortable closing in 30-45 days rather than needing Kiavi-speed underwriting

Look elsewhere if you are:

• A borrower needing the fastest possible closing — Kiavi's AI underwriting closes in under 21 days
• A high-volume investor needing $3M+ single-loan size — Angel Oak Mortgage REIT NYSE:AOMR and Velocity Financial go higher on DSCR loans; Kiavi advertises Jumbo loans up to $5 million for fix-and-flip, new construction and bridge deals (kiavi.com, October 23, 2026) and states no DSCR maximum
• A borrower needing sub-1.0 DSCR case-by-case — Visio Lending is more flexible on this
• A borrower hunting the absolute rate floor — Quontic does not publish rates publicly; you cannot comparison-shop without a loan officer phone call
• A borrower who wants a lender with no enforcement history at all: Quontic’s three orders (2018, 2022, 2023) are all closed now, but a peer with no history is a legitimate choice

10. FAQ

No affiliate relationship. We have no affiliate relationship with Quontic Bank, Quontic Bank Holdings Corp., or Quontic Bank Acquisition Corp. We earn nothing if you open a deposit account, apply for a mortgage, or close a DSCR investor loan with Quontic. All links to quontic.com and quonticwholesale.com in this article are generic destination URLs. This review is based on primary-source documents: FDIC BankFind for Certificate #57807, OCC enforcement archives for actions #2018-093 and #2022-048, Federal Reserve press release enforcement20230706a, OCC CRA Performance Evaluation PDF from December 2018, American Banker and Banking Dive enforcement coverage, Quontic's own product pages (quontic.com/mortgages/non-traditional-loans/dscr/, quonticwholesale.com/investor-dscr/, quontic.com/mortgages/non-traditional-loans/foreign-national/, quontic.com/cdfi-fund/), the U.S. Treasury CDFI Fund’s published lists of certified CDFIs (April 2025 to October 21, 2026), the OCC termination order AA-ENF-2026-36, the Federal Reserve release of September 4, 2026, the OCC CRA evaluation of June 23, 2025, FDIC BankFind financials, the 2025 HMDA file, the CFPB complaint database, BBB profile inspection, and Trustpilot review data.

Sources

• FDIC BankFind — Quontic Bank Certificate #57807
• OCC Thrifts by Name list — Quontic Charter #717974
• OCC Formal Agreement #2018-093 (December 2018)
• OCC Cease-and-Desist Consent Order #2022-048 (October 5, 2022)
• Federal Reserve Written Agreement (July 5, 2023 — HoldCos)
• Federal Reserve Written Agreement PDF (enf20230706a2)
• OCC CRA Performance Evaluation — December 2018
• American Banker — Philadelphia Fed brings enforcement action against Quontic Bank
• Banking Dive — Quontic capital distribution restriction
• American Banker — Steven Schnall obituary (August 2022)
• Quontic press release — Robert G. Russell, Jr. named President (August 10, 2023)
• Quontic Wholesale Investor DSCR product page
• Quontic DSCR retail product page
• Quontic Foreign National Mortgage page
• Quontic CDFI Fund page
• CDFI Fund list of certified CDFIs as of October 21, 2026 (earlier lists: Jan 13, 2026, Jun 10, 2026)
• OCC Order Terminating the Consent Order, AA-ENF-2026-36 (June 30, 2026)
• Federal Reserve Board: termination of enforcement actions, September 4, 2026
• Quontic press release: termination of OCC Consent Order (July 16, 2026)
• OCC CRA Performance Evaluation — June 23, 2025
• Quontic National Low-Income Target Market 2019 press release
• Quontic Bitcoin Rewards Checking launch (October 2020)
• Bloomberg Law — TCPA class action against Quontic Bank
• S&P Global — H2 2022 severe enforcement actions roundup
• Wikipedia — Quontic Bank
• BBB profile — Quontic Bank
• Trustpilot — Quontic Bank
• CFPB Consumer Complaint Database search — Quontic Bank

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