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Frequently Asked Questions
About titlegenius by Radian
What is titlegenius?
titlegenius by Radian makes closing on your home simple, transparent and a little less expensive. Our innovative digital platform walks you through the closing process, step by step, from contract to keys. And if you need assistance, your knowledgeable local staff is ready to take your call. With the right balance of people, resources and technology, we help you close with confidence.
How does titlegenius work?
After filling in some basic information, the titlegenius tool provides you with an all-inclusive quote for title insurance in your state. Once you place your order, you will create an account that walks you through all the necessary steps to prepare for closing. You can securely upload documents into the titlegenius platform and receive to-the-minute updates and alerts so you always know exactly where you stand in the homebuying process. With the right blend of people, resources and technology, titlegenius by Radian gets you through the closing process quickly and confidently.
Is the titlegenius digital platform secure?
Our digital platform is protected by bank-grade encryption and dual authentication, so your documents and personal data are always safe.
Can my real estate agent see my file?
Yes! Once you enter your agent’s information, they will be invited to the platform. From that point on, you and your agent will both have access to your order. No more emails or phone calls back and forth—you’ll always be on the same page.
Why does my order say Radian Settlement Services Inc., rather than titlegenius?
titlegenius is the digital platform that provides you and your agent with full visibility into your title order and the closing process. Radian Settlement Services Inc. is the title and settlement services provider behind your title insurance order. Both titlegenius and Radian Settlement Services Inc. are owned by Radian Group Inc. In some states where Radian Settlement Services Inc. is not licensed, Radian Title Insurance may appear on your order. For more licensing information, visit here. For more information about Radian Settlement Services Inc. and the Radian family of companies, visit this page.
Title Insurance Basics
What is title insurance?
Title insurance protects you against covered title defects, such as a previous owner’s debt, forgeries, liens, and other claims of ownership that may have occurred prior to you purchasing your home.
“Title” gives the person the right to ownership to a certain piece of real estate property. A title report is required in a home purchase or refinance transaction.
“Title” gives the person the right to ownership to a certain piece of real estate property. A title report is required in a home purchase or refinance transaction.
What is a title search?
A title search involves researching the public records to uncover possible title defects and associated risks that affect the ownership rights to the property being purchased, including liens, assessments and judgments. A title search must be completed before a title commitment is issued.
What is a title commitment?
A title commitment is effectively a promise to issue a title policy after closing, and contains the terms, conditions and exclusions that will be in the actual title insurance policy. The title commitment also identifies requirements and title defects that need to be addressed prior to closing so that the title policy can be issued.
What is a lien?
Liens are a legal claim that gives creditors a right to keep possession of property belonging to another person until a debt owed by that person is paid. If a contractor was never paid for work completed by the previous owner, they may have put a lien on the property. If that lien isn’t discovered during a title search, it would be your responsibility to resolve it once you become the property owner.
What is a title defect?
A defect is an issue with the property title that impacts the transfer of property ownership. A previous owner might have forged a signature or not paid real estate taxes, and defects like that might go undiscovered in the title search process. If you have title insurance, you won’t be responsible for dealing with any claims and legal fees associated with undiscovered defects — your title company will.
What if the title search uncovers issues?
If a lien is uncovered on the property and the lien was, for example, filed by a contractor who performed work and was never paid, we will work with the contractor and the seller on a resolution. The resolution may involve the seller paying off the debt. If the seller doesn’t have the money to pay the debt, we may negotiate to wrap the cost of the debt into the seller’s closing costs — ultimately deducting the expense from the home sale proceeds. Don’t worry, our professionals work with the stakeholders directly to resolve the stickier issues until we achieve clear title.
What is clear title?
The goal of a title search is to produce “clear title”. A clear title is a title that is without liens, poses no question to legal ownership and is marketable to future sellers.
Do I get to pick my own title company?
Yes, and you should absolutely shop around to find the best rate. Your real estate agent may recommend a specific title company, but you have the right to choose your title provider and there are some out there — like titlegenius by Radian — that can offer you significant savings.
Your Policy
Will I ever need to renew my owner’s policy?
No, your title insurance owner’s policy doesn’t need to be renewed. You pay for an owner’s policy of title insurance once; there are no ongoing premiums.
How long will my policy last?
Your policy lasts for as long as you own the property.
What is the difference between a title commitment and a title policy?
A title insurance provider issues a title commitment before closing. The title commitment outlines what the title insurance policy will cover, after certain conditions and requirements are met. If those conditions are satisfied, the title policy is issued after closing. The policy is your protection against loss.
What is not covered under a title insurance policy?
Title insurance doesn’t cover things like damage to your home from a fire or robberies. Those problems can be covered with homeowner’s insurance.
Does title insurance vary based on whether I am buying, selling, or refinancing my home?
If you are buying a home, the lender will require a lender’s policy to protect against title defects that could affect the lien of the lender’s mortgage. A lender’s policy provides no coverage for the homebuyer, which is why it is encouraged to purchase an owner’s policy as well.
Who pays for title insurance?
The state and sometimes even the county determine whether the buyer or seller is responsible for paying for title insurance. Local market practice can also influence the decision. It is not uncommon for buyers and sellers to negotiate who will pay for title insurance as well as other closing costs.
Closing Process
What is a closing agent?
Closing agents can be a representative of a title company, an escrow agent, settlement agent or a real estate attorney that conducts the closing (or settlement) of a home purchase transaction. Their main function is to ensure the proper transfer of the legal title and overseeing the closing process (coordinating the document signing, verifying all parties involved have performed their required responsibilities, making sure everything happens in the right order and on time).
Can I choose my closing agent?
Real estate agents may recommend or select the closing agent with your permission, but you can choose your own closing agent if you wish, subject to reasonable requirements imposed by your lender, no matter if the transaction is a purchase or refinance.
When can I close?
For purchase transactions, the closing date is established under the purchase agreement, but it can change pursuant to contract addendum.
The closing can occur once all of the conditions of closing (contract terms) have been met (closing documents have been signed, title is clear, funds have been received). At that point funds may be disbursed in accordance with your written instructions.
The closing can occur once all of the conditions of closing (contract terms) have been met (closing documents have been signed, title is clear, funds have been received). At that point funds may be disbursed in accordance with your written instructions.
Will I receive any documents prior to closing?
We make every effort to send you a digital copy of your closing documents prior to your signing appointment. Don’t hesitate to reach out to a titlegenius representative if you have questions about your closing documents.
Who needs to be at the closing?
All parties required to attend signing will be notified prior to closing day. Sometimes there are parties that are not buyers or sellers who need to be present to sign, such as non-borrowing spouses or other parties with potential interest in the property. titlegenius will keep you and your agent informed on who needs to be present.
What does escrow mean?
“Escrow” refers to an arrangement in which a neutral third-party controls money or assets until two other parties involved in a transaction meet certain conditions. An escrow agent only complies with written instructions signed by both parties.
Once all the conditions are met, necessary paperwork is signed, and the closing is complete, the money from the escrow account is released and sent to the appropriate parties in accordance with the instructions provided.
Once all the conditions are met, necessary paperwork is signed, and the closing is complete, the money from the escrow account is released and sent to the appropriate parties in accordance with the instructions provided.
What happens after the closing?
Following closing, Radian Settlement Services will disburse funds as authorized, including charges for title insurance, recording fees, commissions and loan payoffs. Radian Settlement Services will make arrangements for recording of deeds and any other documents as instructed, request issuance of the title policies, and prepare and distribute final accounting statements to all parties.
When do I get my title insurance policy?
The last step of the closing process is the issuance of the title insurance policy. After confirmation that all the appropriate steps were taken to close the transaction (recording of the deed and mortgages, required payoffs made to the appropriate parties, and all contract conditions met), the title insurance policy is issued and sent to the insured parties.
State Rules & Regulations
Are all prices regulated by states?
Prices and premiums for title insurance vary by state.
Why do title insurance costs vary from state to state?
Insurance premiums are often set or pre-approved by state regulators and every state has different requirements. Title companies may charge additional fees (which are not regulated) on top of the premium; these fees can vary by title company, which is why it is important to shop around for title insurance.