Financial News
Radian’s Blockchain-Backed Title Insurance Offering Launches in Arizona, California, Nevada, Ohio and Pennsylvania
Radian Group Inc. (NYSE: RDN) today announced that its innovative title insurance and closing services offering, titlegenius, has launched in Arizona, California, Nevada, Ohio and Pennsylvania, following its initial debut in Florida. titlegenius platform provides a simple, transparent and secure way to order title insurance and closing services online, delivering value for both real estate agents and homebuyers.*
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210916005703/en/
At www.mytitlegenius.com, homebuyers can access the blockchain-enabled online portal that empowers them to shop for and save on title and closing services directly. (Photo: Business Wire)
At www.mytitlegenius.com, homebuyers can access the blockchain-enabled online portal that empowers them to shop for and save on title and closing services directly. The portal features easy-to-use tools that range from remote check capture to online notarization, helping homebuyers proceed through the closing process more quickly and confidently than ever before and increasing transparency, communication and information security for agents.
“titlegenius is a significant leap forward in what consumers can expect from a title insurance experience,” said Senior Executive Vice President, Chief Franchise Officer and Co-Head of Real Estate, Brien McMahon. “Title insurance has long been a ‘black box’ for homebuyers, but titlegenius provides a smart way for them to save on closing costs with the help of our innovative, patent-pending technology.”
A Better Process: Problems Solved by titlegenius
Pain Point |
Solution Provided by titlegenius |
|
Lack of Choice – Homebuyers don’t know that they can select a title company and get a better price. |
Quick and Easy Choices – Consumers can use titlegenius to quickly and easily get a quote for title and settlement services and determine how much they would save. |
|
High Costs – Title insurance and closing costs are too high, and often have add-on fees or high premium rates. |
Competitive Pricing – titlegenius offers pricing that’s competitive and easy to understand. |
|
Uncertainty – Homebuyers don’t understand the closing process or what is expected of them. |
Tools and Roadmap – titlegenius provides a digital roadmap to closing, real-time updates and streamlined, easy-to-use tools. |
|
Inefficiencies for Agents – The inability to quickly and efficiently complete tasks during the closing process impacts agents’ ability to focus on growing their businesses. |
Transparent and Efficient Workflow – Agents can access their entire transaction pipeline at a glance, download an earnest money receipt, communicate with their customers and provide commission disbursements in one place. |
|
Security Concerns – Homebuyers and agents are concerned that personal documents are kept safe and that funds are transferred securely. |
Bank-Grade Encryption – The titlegenius platform is protected by bank-grade encryption and dual authentication. |
|
Poor Service and Delayed Closings – Agents rely on local providers who don’t always have capacity to handle increased volume levels or issues that arise, sometimes causing delayed closings. |
Optimized, Hybrid Approach – titlegenius’ hybrid approach leverages the best of centralized and local resources. |
State-by-state availability of titlegenius by Radian will continue to expand in the coming months. This is part of the Radian family of companies’ title and digital real estate businesses, which are collectively known as homegenius. During Radian’s virtual 2021 Real Estate Segment Investor Day, the company previewed additional innovative homegenius offerings that will debut soon:
- geniusbuyer: This qualified agent program is being developed to identify, engage and leverage brokers across the country to provide homebuyers and sellers the best real estate experience with the right real estate professional.
- geniusprice: An intelligent pricing technology designed to lead the industry into the future with predictive modeling, artificial intelligence, and automation working together for the delivery of estimated property values with unparalleled accuracy in an instant.
- geneuity: A sophisticated yet simple platform, which combines artificial and machine learning technologies with the tools agents need to do their jobs, into a single, powerful workflow system that is intended to deliver on the promise to make them “the smartest agent in the room.”
The services described herein are provided by one or more Radian Group Inc. affiliates, including services provided by its licensed insurance affiliates or other entities. Title insurance is provided and underwritten by Radian Title Insurance Inc., 6100 Oak Tree Blvd, Suite 200, Independence, OH 44131, Tel: 877.936.8485, NAIC#: 51632, CA- License# 5093-0. FL – Title insurance license #34-1252928 (not licensed in AK, HI, ID, IA, ME, MI, NH, NJ, VT and WY). Title Services are provided by Radian Title Insurance Inc. and Radian Settlement Services Inc., 1000 GSK Drive, Suite 210, Coraopolis, PA 15108, Tel: 800.646.8258, FL- Non-Resident Title Agency #A271379, both wholly owned subsidiaries of Radian Group Inc. Radian Settlement Services Inc. is a title insurance agency for Radian Title Insurance Inc.
About Radian
Radian Group Inc. (NYSE: RDN) is ensuring the American dream of homeownership responsibly and sustainably through products and services that include industry-leading mortgage insurance and a comprehensive suite of mortgage, risk, title, valuation, asset management and other real estate services. We are powered by technology, informed by data and driven to deliver new and better ways to transact and manage risk. Visit www.radian.com to learn more about how Radian is shaping the future of mortgage and real estate services.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210916005703/en/
Contacts
For Investors:
John Damian - Phone: 215.231.1383
email: john.damian@radian.com
For the Media:
Rashi Iyer - Phone 215.231.1167
email: rashi.iyer@radian.com
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