Charting Your Course for Success

Recent FinCEN Update

Last week, FinCEN formally appealed the Texas District Court’s ruling invalidating the Residential Real Estate Rule. FinCEN has also published new FAQs giving guidance concerning the pause on reporting under the Rule that will be in place during the appeals process. All agents who are reporting parties should review the new FAQs on the FinCEN website, which can be found here. Additionally, our Company has issued a multi-state memorandum regarding this update.

Time for a Seller Impersonation Fraud Refresher

Wire diversions and seller impersonation schemes continue to be a significant source of claims and losses in South Carolina. Now may be a good time for agents to take a look at their processes and make sure that your current staff is fully trained to spot and foil these attempts. For our previously published wire fraud checklist click here. For a refresher on Seller Impersonation scams click here.

Arrive Home Earned Equity Program

We have recently begun to receive underwriting questions concerning the Arrive Home Earned Equity Program. This program appears to be a rebranding of a prior product offered by the Tule River Native American tribe. As you may recall from past seminars, our corporate office determined that we cannot insure products offered by this particular tribal entity. Please contact an underwriter to discuss the matter if you have any questions regarding these transactions.

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