Quontic Bank

Recommended 79%

4.1 of 5stars14 Reviews
Recommended 79%

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Lender Summary

Quontic Bank is one of the top lenders of FHA-insured reverse mortgages in the United States. We are a trusted resource, and we’re committed to matching customers with the right product—empowering them with financial independence. Quontic is a Federally Issued Bank which lends in all 50 states. Our purpose as a Bank is to ensure you are handled as a client and not just another number. As a Bank we strive for client satisfaction, as we know this will build success through referrals and repeat business. Anyone can open a mortgage company, not just anyone can be a Bank. Do business with someone you trust.

What they're saying

14 Reviews Ratings & Reviews

(4.1 of 5) 14 Reviews

Interest Rates

Excellent
Fees & Closing Costs

Excellent
Responsiveness

Excellent
Customer Service

Excellent

Review Breakdown

5 Star

(11)
4 Star

(0)
3 Star

(0)
2 Star

(0)
1 Star

(3)

Show:
Reviews For:
By:

(5 of 5)

Recommended

It was a good experience

Our Loan Officer Julian De La Rosa, prepare us with more than adequate information on what to have at hand for the bank. This lighten the loan process. Excellent service. We were able to close in good time. Wonderful Service.
Sincerely Dre and Fran

Closed with Lender:

Yes
Loan Type:

Home Purchase
Review Type:

Lender Review

(5 of 5)

Recommended

Very good guidance to a successful home purchase

Julian provides excellent service, he is always available. He even use after work hours to help us buy a home. Very good advisor from preparation to finalizing our home purchase. You are in good hands, Julian actually cares.
Sincerely Dre and Fran

Closed with Lender:

Yes
Loan Type:

Home Purchase
Review Type:

Loan Officer Review
Loan Officer:
Julian De La Rosa Marcano

(1 of 5)

Horrible experince

The process was by far the worst I’ve ever encountered. Their gave me a sales pitch on their Lite Doc program and stalled the deal so long the property was nearly lost to foreclosure. Please, do not use Quontic Bank.

Loan Type:

Refinance
Review Type:

Lender Review

(5 of 5)

Recommended

Excellent service!

From the first communication with Frank through to the closing of my reverse mortgage he was very responsive to my concerns and needs. He patiently walked me through the entire process answering every question I had along the way. The process went very smoothly and I feel like I've made a friend! I could not make a higher recommendation.

LendingTree Customer:

Yes
Loan Type:

Reverse Mortgage
Review Type:

Loan Officer Review
Loan Officer:
Frank Richard Ornelas

(1 of 5)

Not Happy

Review of Reverse Mortgage with Quantic Bank

The Good:
Tom was a wealth of information on this decision. Very responsive to our questions and prompt with replies.
They were willing to take us on even though we are very rural (think Banjos) and our property was agricultural and in a revocable trust.
Except for the appraisal, Closing cost came in less than the projected.

The Bad:
Prepare for 2 months of frustration.
A timely survey to take the house out of agg cost $2K
Even though I expedited each new request there was always one more delay.
The Appraisal company said $500 cost. Quontic Bank was to cover $200. Should have got it writing. Cost was $800.
Funding was to be on the fourth day after closing. It was 7th day. The 3 day waiting (rescission period) period does not include Sunday or holidays. Quontic Bank waited until after bank wire closing time to wire the money, so you won’t will not actually have the money till the next day. It was confirmed funded 3 days before so this should not have happened.
Overall it took a lot of effort on my part to move this along.

Quontic Bank Response

Thank you for your message. We take customer service very seriously and do our very best to make the mortgage process as fast and hassle-free as possible. As you pointed out, though, things outside of our control can sometimes cause the process to hit a snag. We are actively working to see how we can prevent any such hiccups in the future. Thanks again for taking the time to give us this valuable feedback.

LendingTree Customer:

Yes
Loan Type:

Reverse Mortgage
Review Type:

Lender Review

(5 of 5)

Recommended

Great Choice Quontic Bank

I feel I was very lucky in doing my Reverse Mortgage with Vinnie Smith from your office in Indiana. Without meeting him in person, he made me feel confident that I was doing the right thing for my situation. Throughout the process he remained patient with me and all my questions even though I was quite repetitive. I commend Quontic Bank for hiring him. It was an excellent choice.

LendingTree Customer:

Yes
Loan Type:

Reverse Mortgage
Review Type:

Lender Review

(1 of 5)

WORST BANK FOR A REVERSE MORTGAGE

I am so disappointed in this Bank and the Revree Mortgage Process. I was dealing with Audra and at first she wanted to help us. But when I asked for official documentation a to what she is telling me is the truth she would not provide it to me. I gave her what the official HUD stated in my case and she had nothing but excuses. I am so done with even attempting to get a Reverse Mortgage due to all the INCORRECT INFORMATION. Will NOT ever call this bank again!!!

Quontic Bank Response

Thank you for your comments. Most reverse mortgages are insured by the U.S. Department of Housing and Urban Development's Federal Housing Administration (FHA). To qualify, there are a number of requirements set by the FHA. All lenders are bound by these rules-and that's a good thing. It also means not everyone who contacts us will qualify.

LendingTree Customer:

Yes
Loan Type:

Reverse Mortgage
Review Type:

Lender Review

(5 of 5)

Recommended

Great Experience with a Great Rep

Mike was the person who got us through the whole process. There was never a time when he gave up on us or making our dreams of home improvements a reality. Yes, it's his job. However, Mike went above and beyond.

Thank you Mike

LendingTree Customer:

Yes
Loan Type:

Refinance
Review Type:

Loan Officer Review
Loan Officer:
Michael Fanelli

(5 of 5)

Recommended

Great Experience

It was a great experience for me. Michael Fanelli was the best and i feel like we became more like friends then just a customer. He was wonderful. I will tell all my friends and family about Michael with Customized Mortgage Solutions.

LendingTree Customer:

Yes
Loan Type:

Refinance
Review Type:

Loan Officer Review
Loan Officer:
Michael Fanelli

(5 of 5)

Recommended

Quontic was great

Quontic did a great job for us. In addition to Shane his supervisor Tom( I don't know Tom's last name) did a great job and really went to bat for us. Our experience with Quontic was exceptional.

LendingTree Customer:

Yes
Loan Type:

Reverse Mortgage
Review Type:

Lender Review

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Quontic Bank

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