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Keys to Real Estate podcast

Keys to Real Estate

NEW EPISODE: Season 2 Episode 10
Trust Transfers Trigger FinCEN Scrutiny: What Every Attorney Needs to Know?

What will happen when the new FinCEN reporting rule takes effect Dec. 1, 2025? Industry veteran Ruth Dillingham, Esq. had no shortage of invaluable insight for attorneys, title & settlement agents, estate planners, financial planners, trust officers, Realtors and more about their role in accordance with the cascade of reporting responsibilities outlined in the rule.

About the Keys to Real Estate podcast
Presenting Sponsor - ClosinglockFor an exclusive look into business-critical information and key topics central to thriving under the ever-changing demands placed on real estate businesses today, tune into the October Research Keys to Real Estate podcast. This industry-centric podcast hosted by October Research Chief Knowledge Officer Mary Schuster features in-depth conversations for anyone interested in deepening their understanding of the real estate ecosystem. The podcast series is available for streaming 24/7 at the time and place of your choosing.

Take education into your own hands (and ears) with our long-form conversations featuring today’s newsmakers and thought-leaders.

Thanks to Closinglock for being the presenting sponsor for season 2 of the Keys to Real Estate podcast.

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Checkout the latest episodes...

  • S2E10 | Ruth Dillingham, Esq. – Trust Transfers Trigger FinCEN Scrutiny: What Every Attorney Needs to Know?

    S2E10 | Ruth Dillingham, Esq. – Trust Transfers Trigger FinCEN Scrutiny: What Every Attorney Needs to Know?
  • S2E9 | Dr. Bill Conerly – Adapting to the Future of Work

    S2E9 | Dr. Bill Conerly – Adapting to the Future of Work
  • S2E8 | Dr. Bill Conerly – Are We on a Road to Recession or Just a Speed Bump?

    S2E8 | Dr. Bill Conerly – Are We on a Road to Recession or Just a Speed Bump?
  • S2E7 | Chuck Myers & Connie Van Slyke – The Regulators Are In: Debunking Myths and Building Trust

    S2E7 | Chuck Myers & Connie Van Slyke – The Regulators Are In: Debunking Myths and Building Trust
  • S2E6 | Jaime Kosofsky – Fake IDs, Real Consequences: How to Spot a Phony

    S2E6 | Jaime Kosofsky – Fake IDs, Real Consequences: How to Spot a Phony
  • S2E5 | Brian Carter – AI Without the Jargon: A Mindset for the Future

    S2E5 | Brian Carter – AI Without the Jargon: A Mindset for the Future
  • S2E4 | Rich Horn – Townstone, the CFPB and a Stunning Reversal

    S2E4 | Rich Horn – Townstone, the CFPB and a Stunning Reversal

  • S2E3 | Donna Anderson and Mary Anne Harris – Recruit. Train. Retain. Mastering Workforce Challenges

    S2E3 | Donna Anderson and Mary Anne Harris – Recruit. Train. Retain. Mastering Workforce Challenges
  • S2E2 | Loretta Salzano – RESPA Reform & Regulatory Confusion

    S2E2 | Loretta Salzano – RESPA Reform & Regulatory Confusion
  • S2E1 | Aaron Davis and Mark LaRosa – Can Your Business Weather a Natural Disaster?

    S2E1 | Aaron Davis and Mark LaRosa – Can Your Business Weather a Natural Disaster?
Results 1 - 10 of 31
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12 USC Section 2605 or Section 6 is titled Servicing of mortgage loans and administration of escrow accounts. It pertains to qualified written requests, notices of transfer of servicing and the administration of escrow accounts.
An arrangement that involves a person who is in a position to refer business as part of a real estate settlement service and who has an interest in a settlement services provider.

In the arrangement, the person, who has either an affiliate relationship with or a direct or beneficial ownership interest of more than one percent in a settlement services provider, directly or indirectly refers business to that provider or influences a consumer to select that provider.
An arrangement that involves a person who is in a position to refer business as part of a real estate settlement service and who has an interest in a settlement services provider.

In the arrangement, the person, who has either an affiliate relationship with or a direct or beneficial ownership interest of more than one percent in a settlement services provider, directly or indirectly refers business to that provider or influences a consumer to select that provider.
A mortgage disclosure that lists all estimated charges and fees associated with your loan. In addition to fees and charges, it will list your loan amount, mortgage rate, loan term and estimated monthly payment. Your escrows due at closing for insurance and taxes will also be outlined. Mortgage lenders are legally required to provide a GFE within three days of receiving your application.
A mortgage disclosure that lists all estimated charges and fees associated with your loan. In addition to fees and charges, it will list your loan amount, mortgage rate, loan term and estimated monthly payment. Your escrows due at closing for insurance and taxes will also be outlined. Mortgage lenders are legally required to provide a GFE within three days of receiving your application.
Under RESPA Section 2605(e)(1)(B), a qualified written request is a written correspondence that includes: 1) the name and account of the borrower, or has enough information to allow the servicer identify that information; and 2) a statement of the reasons for the belief of the borrower that the account is in error or provides sufficient detail to the servicer regarding other information sought by the borrower.

A QWR cannot be written on a payment coupon or other payment medium supplied by the servicer.
Under RESPA Section 2605(e)(1)(B), a qualified written request is a written correspondence that includes: 1) the name and account of the borrower, or has enough information to allow the servicer identify that information; and 2) a statement of the reasons for the belief of the borrower that the account is in error or provides sufficient detail to the servicer regarding other information sought by the borrower.

A QWR cannot be written on a payment coupon or other payment medium supplied by the servicer.
12 USC Section 2609 or Section 10 is titled Limitation on requirement of advance deposits in escrow accounts. It governs escrow accounts including notifications and statements to borrowers. Section 10 also sets out penalties for those who violate the section.
RESPA Section 3 provides that a thing of value includes any payment, advance, funds, loan, service or other consideration

Regulation X says thing of value includes: monies, things, discounts, salaries, commissions, fees, duplicate payments of a charge, stock, dividends, distributions of partnership profits, franchise royalties, credits representing monies that may be paid at a future date, the opportunity to participate in a money-making program, retained or increased earnings, increased equity in a parent or subsidiary entity, special bank deposits or accounts, special or unusual banking terms, services of all types at special or free rates, sales or rentals at special prices or rates, lease or rental payments based in whole or in part on the amount of business referred, trips and payment of another person’s expenses or reduction in credit against an existing obligation.
A form used by a settlement or closing agent itemizing all charges imposed on a borrower and seller in a real estate transaction. This form represents the closing transaction and provides each party with a complete list of incoming and outgoing funds. RESPA requires the HUD-1 to be used as the standard real estate settlement form in all transactions in the U.S. involving federally related mortgage loans.
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