CloseSimple Expands Capabilities to Help Title Companies With FinCEN Rule
December 2, 2025
CloseSimple has expansion its portal and tasking capabilities to help title companies prepare for the information collection requirements under FinCEN's Residential Real Estate Rule.
The rule requires real estate professionals to report detailed information about non-financed, cash purchases of residential real estate involving legal entities and trusts.
CloseSimple’s expanded portal and tasking capabilities enable title companies to collect FinCEN-related data within the same secure, branded portal consumers already use for info sheets, documents, e-signing, status updates, secure messaging, payments and more.
“By expanding our Portal & Tasking capabilities, we’re giving title companies a straightforward way to identify reportable transactions and gather new information inside the workflow that already drives exceptionally high engagement,” said Nate Niemi, chief technology officer and head of product at CloseSimple. “It’s the same trusted experience, now with more capacity to support whatever federal expectations come next.”
According the CloseSimple, here are highlights of the new capabilities:
- Customers can manually identify the transaction as reportable or the system can be utilized to determine reporting requirements based on information from the file or consumer
- FinCEN-related questions and data fields appear inside the existing branded portal, without requiring new tools or external vendors
- Tasks fit within same workflow that yields 80–90% consumer completion today, ensuring high-quality data collection from the start.
- All captured information is structured, filed, and easy for title teams to review, reducing administrative work and minimizing errors.
Contact ALTA at 202-296-3671 or [email protected].