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By - admin

Major FinCen Updates

Reader – please take note – there is a change in the Financial Crimes Enforcement Network’s (FinCen) Geographical Targeting Order (GTO). Now that I have your attention, I am sorry to say that I will now disappoint you with the limited scope of information that I am at liberty to convey. The terms of the GTO are confidential.  That’s right,

By - admin

Nassau’s Rate Increase Implemented Without Notice

It was on Monday, September 28, 2015 that I wrote about Nassau County’s plan to significantly increase the fees they will charge to record land records. We all were alerted as to what the increases would be, but we had no idea when they would become effective. Yesterday afternoon, I received notice that Nassau County will make these increases effective

By - admin

Nassau County Backs Down, Delays Implementing Recording Rate Increase

A little more than two weeks ago, Nassau County implemented an astronomical increase in the fees they charge for recording documents that are submitted into the land records. Not only was the increase HUGE, but they only gave the general public, title insurance companies included, 48 hours notice. This sudden increase in fees caused significant problems and complications for many

By - admin

Alert: New 15% Withholding

I usually take the time to completely digest new items and write about them myself. Right now, my schedule does not allow me to do that. In order to disseminate the information promptly, I am coping a news item just distributed by one of my favorite title insurance companies. So, here it is: ALERT: 10% FIRPTA—New 15% Withholding Under current

By - admin

NY Real Estate and Swiss Bank Accounts

The New York real estate industry has seen a flurry of changes recently. Electronic recording is now available in many counties. The CFPB has recently issued new closing requirements. Local municipalities seem to be trying to (in part) make up for shortfalls in their budgets by increasing fees associated with our industry on a regular basis. Are you comfortable yet?