Ready or Not: Preparing for the FinCEN Final Rule

Elyce Schweitzer — Tue, 24 Jun 2025 21:44:43 +0000

By Elyce Schweitzer, Esq., Regulatory Compliance Officer, �ǿմ�ý �ǿմ�ý; and
Valerie J. Grandin, Esq., Sr. Underwriting Counsel Florida and Vice President, �ǿմ�ý �ǿմ�ý

Here’s a riddle for the title insurance and real estate industries: what does Dolly Parton’s song, “Here You Come Again” have to do with FinCEN, its Geographic Targeting Orders (GTOs), and its Final Real Estate Report Rule (Final Rule)? Answer: the last verse of the song repeats the lyrics, “Here you come again . . . And here I go” several times, analogous to FinCEN’s multiple, back-to-back, ever-expanding GTO’s issued since 2016, culminating in its permanent Final Rule issued on August 28, 2024, and effective on December 1, 2025, and our efforts to adapt and comply with all of its changes and requirements.

We first published a in November of 2024 discussing FinCEN’s Final Rule, its anticipated effective date of December 1, 2025, and the things you should be thinking about to get an early start on operationalizing compliance with the numerous requirements. Well, a lot has happened since then—let’s bring you up to speed.

What has the industry been up to?

First of all, industry stakeholders have been diligently working to try and reduce the impact of the Final Rule on your title insurance business. Some players have even started pushing back hard against the Final Rule.

On April 14, 2025, East Texas Title filed suit in the U.S. District Court, Eastern District of Texas, to get an injunction against the permanent FinCen Real Estate Rule from going into effect on December 1, 2025. Some of the legal arguments:
- Violation of the Constitution’s separation of powers – title agents should not be “forced to perform government surveillance on their clients by reporting private information from legitimate transactions”
- Constitution only grants Congress the power to regulate commerce between states and that the federal government has no standing to require businesses to collect information on real estate cash transactions that take place entirely within Texas
- Fourth Amendment protects against “unreasonable searches and seizures” of “persons, houses, papers, and effects,” including business record – no right to require private business to violate the privacy of Americans.
On May 20, 2025, a national underwriter filed suit against Department of the Treasury and Treasury Secretary Scott Bessent, along with FinCEN and its director, Andrea Gacki, in the U.S. District Court, Middle District of Florida, Jacksonville Division. Some of the legal arguments set out in their complaint include:
- The rule exceeds FinCEN’s statutory authority
- The rule is arbitrary and capricious
- The rule violates the Fourth Amendment prohibition against warrantless searches
- The rule violates the First Amendment’s prohibition on compelled speech
- The rule exceeds any authority Congress could have delegated under the Commerce Clause or its other Article I powers
On May 15, 2025, ALTA made a formal appeal to the Office of Management and Budget (OMB), asking for the “Anti-Money Laundering Regulations for Residential Real Estates” Final Rule to be rescinded “if changes are not made to lessen the overly burdensome requirements on small title companies.” (See )

Second of all, ALTA took the lead and created a working group to develop information collection forms to capture the information required for FinCEN reporting under the Final Rule. After all, FinCEN’s initial had 111 distinct fields so there will be a good bit of information to be collected!

Third of all, ALTA has been working on creating helpful industry training webinars. The first of these webinars was presented in March 2025 – Learn How Proposed Real Estate Anti Money Laundering Rule Impacts You – and is available to watch as a free recording on Youtube at . The second of these webinars was a comprehensive 2-day FinCEN Bootcamp training session held on June 2 and 3, 2025; while the Bootcamp was not a free event, we will be sharing valuable information from it in our future blogs and in agent training currently under development. For now, you should know that the big takeaway from the Bootcamp is that it is NOT too early to begin operational preparations for the Final Rule. It was pointed out that orders for cash transactions received in October and November could very well close in December and therefor be subject to the requirements of the Final Rule, so processes need to be in place to recognize and capture those early orders and ensure your agency’s compliance. In fact, settlement agents are encouraged to register for the FinCEN filing portal in advance of the Final Rule’s effective date by going to and setting up a Supervisory User Account. You can even prepare a practice report to understand the actual process and even provide your team with training. Just do not hit SUBMIT!

Lastly, on April 17, 2025, ALTA published based upon questions from their customers. The questions involve numerous scenarios, and the answers do a good job of interpreting and applying the provisions of the Final Rule to the hypotheticals.

What has FinCEN been up to since it’s publication of the ?

On November 12, 2024, it released a to implement the Final Rule. As with the posting of the Final Rule, the posting of the draft report form also has a preamble discussion, but if you want to skip over it and hop directly to the draft report section in the Appendix – Real Estate Report Summary of Data Fields, then click here .

On June 5, 2025, FinCEN announced that the U.S. Department of the Treasury, on behalf of FinCEN, will submit the to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995 (PRA); the public comment period on the information collection request is open until July 7, 2025. By law, an agency cannot collect information without displaying a valid OMB number, so this is another required step as FinCEN moves forward with its plans for a final report form to implement its Final Rule. To skip the preamble and go directly to the Appendix-Real Estate Report Summary of Data Fields, click here .

What has �ǿմ�ý �ǿմ�ý been up to?

Members of �ǿմ�ý �ǿմ�ý’s legal team have participated in developing the ALTA information collection forms and trainings discussed above. We recognize that all stakeholders in this process will need education to understand the benefits of the Final Rule as well as its impact on residential real estate transactions after December 1, 2025. Stay tuned for practical �ǿմ�ý �ǿմ�ý agent training webinars starting later this summer. We will also offer programs for your real estate professional partners as their support of your information collection efforts will be critical to a smooth closing under the Final Rule. We are already working to train our internal team members so you will have a team of experts at your disposal. Then we will help “train the trainers” so you are equipped to respond and educate your business referring partners as well. One thing is clear, moving forward the more players in your real estate transaction who are up to date with the benefits of the Final Rule and the protections it offers, the more rapidly acceptance and adaptation will follow. �ǿմ�ý �ǿմ�ý will be your expert now and as the Final Rule implementation becomes part of your standard operation procedures.

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Your Advantage: Building Success With South Florida Agency Manager Tracy Pace

anticadmin — Tue, 04 Feb 2025 00:19:17 +0000

Many find it difficult to remember what led to important phases of their careers. Tracy Pace doesn’t have that problem. Her journey to the title industry began during a national tragedy that forever imprinted itself in our collective memory. “I had been working as an executive at a New York-based cosmetics company,” she said. “After September 11th, our business declined, and I began to consider a career change.” This was an all-too-common situation at the time, as New York’s GDP dropped precipitously following the attacks and many professionals evaluated their options. However, it wasn’t long before a silver lining appeared. A recruiter contacted her about a job with a title underwriter, an opportunity which ironically transformed this dark moment into one of the brightest periods of Pace’s career.

The title industry, it turned out, would prove to be a great fit for Pace. It offered her the chance to make a tangible and positive impact on its many stakeholders. This continues today in her role as �ǿմ�ý �ǿմ�ý’s South Florida Agency Manager.

Of course, Pace’s transition to the title industry wasn’t without its challenges – nor was it instantaneous. “I reluctantly took the job only after considering it for several months,” said Pace. “That’s primarily because, in the beginning, I knew very little about the industry.”

Over time, however, she came to learn the ins and outs of the business, developing a passion for title insurance by taking on a “diverse range of responsibilities” that kept her “challenged and engaged.” Once she joined �ǿմ�ý �ǿմ�ý, she found ample opportunities to apply this drive for the benefit of the underwriter’s agents. “Every day I get to help our agents grow their businesses, start new businesses, the list goes on,” she explained.

Given the many challenges the average title agent faces today, being able to rely on passionate and accomplished professionals like Pace is critical. “The industry is currently experiencing dramatic upheavals, with advancements in technology and data accessibility driving rapid transformation. There are also more stringent rules around compliance, consumer protection and privacy,” she explained. At the same time, consumers are increasingly valuing businesses that prioritize human connection.

As a seasoned professional with many years of experience under her belt, Pace understands these competing interests completely. She also knows how to equip agents with everything they need to navigate both simultaneously and thrive.

For instance, Pace works hard to ensure agents know about the various tools, resources and knowledge �ǿմ�ý �ǿմ�ý provides to its agent community. “�ǿմ�ý �ǿմ�ý has invested in cutting-edge fraud prevention tools like SecureMyTransaction, as well as ongoing education to help agents spot and mitigate threats,” she said.

Pace also encourages others to never lose sight of the importance of relationships in the industry. She is adept at helping folks build the connections necessary for creating shared wins while achieving robust growth. “In this industry, relationships are everything,” she explained. “Whether you’re working with agents, clients or internal teams, being reliable, approachable and responsive creates lasting, meaningful connections that are the drivers of mutual success. It’s also essential to show integrity in every interaction – big or small.”

Although it may have begun on a somber note, Tracy Pace’s career in title insurance has proven to be anything but. For over two decades, she has applied her passion to meeting agent needs and helping them excel while navigating an ever-changing field. �ǿմ�ý �ǿմ�ý’s agents can rely on her extensive experience and expertise as an invaluable resource to build the business they want and deliver the service their customers deserve.

The post Your Advantage: Building Success With South Florida Agency Manager Tracy Pace appeared first on �ǿմ�ý �ǿմ�ý Title Insurance Co..

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Ready or Not: Preparing for the FinCEN Final Rule

Your Advantage: Building Success With South Florida Agency Manager Tracy Pace