Are You Familiar with the New FinCEN Laws?

Last week, the federal government rolled out its tracking of secretive cash deals involving high-end Miami real estate. Understandably, this new development is causing many in the Miami real estate market to wonder how it may affect them.

FinCEN has launched new regulations that require title insurance companies to disclose buyers’ names behind anonymous companies paying cash for properties costing at least $1 million for six months. The objective is to combat money laundering in high-end real estate effectively. FinCEN will scrutinize transactions involving residential properties made through a legal entity, paper checks, or cash without bank financing.

FinCEN won’t scrutinize commercial purchases, including residential buildings with over five units, and individual deals under $1 million. This information is important for those who are concerned. In Florida, these regulations are also being implemented solely in Miami-Dade County and not in Palm Beach or Broward County.

This update is brought to you by Michael Internoscia, Principal Broker and CEO of hard money lenders Florida company M&M Private Lending Group, LLC.

With over thirty years of experience, we specialize in private money real estate loans. Our focus is providing personalized service to our esteemed clients while maintaining low rates and closing costs. We also offer mortgage note investments and have worked extensively with brokers and affiliates. Call 305-363-7169 or 954-445-4434 to speak with a lending representative about our Florida private loans or visit our website at to fill out an application form.