Mortgage Leadership Outlook: Steve Schnall

Описание: We recently spoke with Steve Schnall, CEO, and Chairman, Quontic Bank (NYC based #CDFI bank and #WholesaleLender) about why #nonQM remains a good topic, loan deferments and working in the new norm in the US epicenter of the pandemic, New York City.

As part of the #MortgageLeadershipOutlook Series, Steve will discuss the harsh realities of what is going on today, and how to find some positivity in the turmoil and breaks down our current state.

Plus, we'll be asking Steve about Quontic Bank's unique product mix.
2:37 1 Rock (1 Rockefeller Plaza) taking a look outside in NYC
3:35 How is the team handing the new norm? What is a day like at the office?
5:44 How Steve got into the industry (mortgage broker roots)
10:25 What happened in 2006 when the company was selling
16:25 Explaining how the CDFI (community development financial institution) allows a lender to define an ability to repay outside of the Dodd-Frank rules
22:22 What's different about non-traditional borrowers?
24:17 Percent of their loans that are going into default (shocking number revealed here)
26:01 Preparing after 2008 how did you position yourself for this time around
29:17- 36:25 Break in connection
36:37 How being a bank has prepared you for the loans now
37:38 Selective and safe loans are the way to go
40:49 Good industries to prospect right now
42:56 Opportunities that Steve sees around the country
43:52 Advantages of using #MortgageBrokers
44:34 Wrapping it up

Watch more from the Mortgage Leadership Series here: https://www.youtube.com/watch?v=m20SM...

This was broadcasted live on   / mortgageprofessional   on May 12, 2020.

📌 We will be keeping you up to date on the most current mortgage news and virus updates so stay tuned!

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