What is going to happen when the new real estate transaction reporting rule crafted by the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) takes effect Dec. 1, 2025?

Industry veteran Ruth Dillingham, Esq. has no shortage of invaluable insight for attorneys, lenders, underwriters, settlement agents and more about what role they will play in accordance with the cascade of reporting responsibilities outlined in the rule.

Dillingham shared a multitude of perspectives and advice with October Research Chief Knowledge Officer Mary Schuster during an episode of the Keys to Real Estate podcast. 

A major reason for the new FinCEN rule is combating money laundering, which has become rampant in the modern age of real estate financing. This has led to tighter monitoring of all parties involved in a mortgage transaction.

“No one gets a mortgage without showing their driver’s license. They need to know who you are,” Dillingham said. “Well, this is much the same idea for real estate transactions. And, as has been reported and verified repeatedly, real estate is prime for money laundering. It’s expensive. It appreciates in value. And even though it is considered an illiquid asset, once you decide to terminate your ownership interest, you walk away with the money.”

They explored the rule’s implications for mortgage lenders, borrowers, trusts, estate planners and even transactions involving cryptocurrencies. The conversation also delved into data privacy and security considerations, and what industry leaders will need to pay attention to in the months ahead to be in compliance.

Listen to the full conversation by going to  https://www.valuationreview.com/vr/keys-to-real-estate-vr/s2e10-ruth-dillingham-esq-trust-transfers-trigger-50.aspx