Insight
Texas implemented a 10% reduction in title premiums mid-year, which was later reduced to 6.2%. This change will become effective in March of the next year. California is seeking more justification on rate filings.
WFG’s Don O’Neill on FinCEN, rate scrutiny and title compliance
Summary
This article discusses changes to anti-money laundering regulations impacting real estate transactions, specifically focusing on FinCEN reporting requirements. Hosts should be aware of these changes, as they can affect how LLCs and other entities are reported during transactions. Failing to comply can lead to legal issues.
Key takeaway