Steven Schnall Net Worth: Cause of Death, What Happened To Steven Schnall?
Steven Schnall Death Cause: Steven Schnall, who built a great mortgage company serving New York’s immigrant communities while also moonlighting as a boutique condo developer as the CEO of Quontic Bank, died in a motorcycle accident on his way back from a biking trip to Canada. He was only 55. Schnall’s wife and two sons survive him.
Schnall later graduated from the College of Florida with an accounting degree at 22 but quit ten months later for a mortgage lending firm. With the aid of a friend who lent him money $15,000, he started his mortgage brokerage and hustled residential real estate for borrowers. New York Mortgage auctioned its stock to the general public in 2004.
When market cracks started to appear, Schnall decided to sell his mortgage company in 2007. But he returned to Quontic after the crash, seeing how immigrants, seniors, and gig workers had difficulty getting loans.
In his most recent endeavor, Schnall acquired a lender in 2009 and rebranded it as the online bank Quontic. This company invented digital banking products like a finger ring that served as a debit card and the ability to pay interest in Bitcoin. Since Quontic’s beginning, Schnall has played a vital role in its expansion and growth. He has turned the bank into a profitable, well-capitalized, philanthropic, digital financial institution operating in all 50 states. Quontic’s ability to receive the U.S. was one of Schnall’s most significant achievements.
Schnall revealed on a podcast last year that he made his first deal in middle school, selling cinnamon toothpicks and slingshots made from discarded telephone wire. Later, he targeted relatively large apartment complexes lacking basic, low-tech security measures and went door to door selling peepholes.
He participated in the Young Presidents’ Organization and Urban Angels, a meal charity he founded, and this year, he was a finalist for EY’s “entrepreneur of the year award.”
The current estimated net worth of New York Mortgage Trust Inc’s Director, Steven B Schnall, is estimated to be about $17.98K. Steven B Schnall owns about 2,136,452 units of New York Mortgage Trust Inc common stock