Priority Financial Network Meets with Legislators in Washington D.C.

    LOS ANGELES, CA, October 06, 2017 /24-7PressRelease/ -- Marc Shenkman, President of Priority Financial Network, joined CMLA members in Washington DC to meet and talk with the CFPB, Administration & Senate Banking members. The D.C. Fly-in was organized to discuss Regulatory and GSE reforms. Added to that were discussions about changes in post-disaster policies to allow more efficient resolution of damage assessments for homes where the loan has closed but does not have an FHA insurance certificate.

Mr. Shenkman and the other CMLA members met and talked with the Acting FHA Commissioner, Chief Economist for Vice President Pence and a senior counsel for the House Financial Services Committee. The status of both regulatory reform and GSE reform were key topics for Mark Calabria and Clinton Jones, Chief Pence Economist and Senior House Financial Services Counsel.

CFPB Director, Richard Cordray met with CMLA members to discuss ways for mid-size and small lenders to get more direct, written answers from the CFPB on regulatory issues and interpretations. Mr. Shenkman and the other CMLA members met with the staffs of Senators from the Senate Banking Committee to urge consideration of their co-sponsorship of CMLA's regulatory reform bill, which would exempt small lenders from CFPB supervision and enforcement. CMLA members then met with the Republican and Democratic staffs of the Senate Banking Committee to discuss both regulatory reform and GSE reform.

According to Mr. Shenkman, "We (CMLA members) got the opportunity to explain to Richard Cordray how independent Mortgage Bankers have the enhanced ability to understand borrower's unique needs and service them at a personalized level big banks are not set up to do." Shenkman further explains, "I felt a high sense of confidence after meeting with Mr. Cordray that he took our input to heart and is motivated to make real changes that will help Independent Loan Bankers like Priority Financial Network and the other CMLA members."

Priority Financial Network was founded in 1999 by Ben Hunnicutt and Marc Shenkman. Each partner brings over 30 years of lending and mortgage experience and expertise. Priority Financial Network operates as a privately-owned Mortgage Banker and offers their clients a diverse portfolio of loan options to fit any loan scenario. Priority Financial Network provides borrowers with the advantages and resources of larger financial institutions, but with the flexibility and agility to make split-second decisions that can make the difference that enables loans to close. Priority Financial Network is licensed in multiple states and is committed, through their proprietary process, to providing an experience to their client's that is simple and stress-free from beginning to end.

Call Priority Financial Network at (818) 223-9999, [email protected] or http://www.priorityfinancial.net. Priority Financial Network is the dba for BM Real Estate Services, Inc. NMLS 13098 | BRE 01273595.

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