Title Legal Disclosure | homegenius

Title Legal Disclosure

titlegenius is provided to you by Radian Settlement Services Inc. (“RSS”), a title services provider and wholly owned subsidiary of Radian Group Inc. Title services may also be provided by RSS’s affiliates, Radian Title Insurance Inc., Radian Title Agency of Texas LLC and Radian Escrow Services LLC in those states where RSS is not licensed (collectively, “Radian”). For additional licensing information, please visit Licensing and Disclosure Information.

Title insurance is provided and underwritten by Radian Title Insurance Inc., 6100 Oak Tree Blvd, Suite 200, Independence, OH 44131; Tel: 800.362.2305, NAIC#: 51632, CA- License# 5093-0. FL – Title insurance license #51362, AZ – Title Insurer #51632 (not licensed in AK, HI, ID, IA, ME, NH, NJ, VT and WY). Title insurance may also be underwritten by non-affiliated third party title insurance companies such as First American Title Insurance Company, Westcor Land Title Insurance Company, WFG National Title Insurance Company and Fidelity National Title Insurance Company in those states where Radian is not licensed.

Each insurer has sole financial responsibility for the insurance policies it issues. Insurance coverage is subject to the terms and conditions of applicable insurance policies, which contain exclusions, limitations, and other conditions and requirements. Not all services or products are available in all areas throughout the United States. In addition, you may not be eligible under the applicable underwriting guidelines for all products or services described.

Choice of Insurer

You are not required to negotiate any policy of title insurance through a particular insurance company, agent, solicitor, or broker. However, Radian may designate minimum standards as to the company, terms, coverage and provisions of the policy.

Endorsements; Discounts; Advice Disclosure:

Please note that your lender may require additional coverage (endorsements) that may add to the cost of your title insurance. Your lender may also have closing fees that should be disclosed on your Loan Estimate form. Eligibility for refinance discounts, where available, is subject to evidence of a prior mortgage or owner’s policy (in certain states) within the proper time frame and of sufficient amount.

RADIAN does not provide legal advice. If you require personal legal representation or if you have legal questions regarding your closing, we recommend that you contact an attorney.

Licensed Resident Escrow Agents:

Certain states require that closings be conducted through licensed resident escrow agents or through resident attorneys. Certain other states require that title insurance policies be issued through resident agents or agencies. In such states, RADIAN will work through a licensed title agent, escrow agent, or attorney.

Connecticut, Delaware, Georgia, Massachusetts, North Carolina, South Carolina and West Virginia: To the extent required by law, all or part of the closing process is conducted by an attorney licensed to practice law in the state.

Missouri: Under Missouri law, title insurance companies are required to file a “Risk Rate Premium”, which is only one component of the title-related costs. The savings offered by RADIAN refers to the combined title-related costs which includes the Risk Rate Premium, the Title Service Fee and other related charges taken in the aggregate.

New York: Standard New York Practice is for lenders to retain attorneys to represent the lender in loan transactions. The attorney’s fees are typically disclosed to the borrower on the Loan Estimate form. For refinances, a title closer is also required at closing; additional fees may apply. Title closers are paid directly and are not employees or agents of RADIAN.

Texas: In Texas, the Commissioner of Insurance sets rates. Pursuant to TEX. INS. CODE § 2703.151(c), the cost of a title insurance policy or endorsement cannot be varied. The most recent rate order setting the basic premium amount was effective September 1, 2019. The full table of the Texas Title Insurance Basic Premium Rates can be accessed at https://www.tdi.texas.gov/title/Titlerates2019.html. Charges for endorsements can be determined by referring to the Rate Rules in the Basic Manual of Rules, Rates and Forms for the Writing of Title Insurance in the State of Texas, Section III at http://www.tdi.texas.gov/title/titlemm3.html. This calculator is based on the promulgated rates as of May 01, 2013. The cost of your title insurance will depend on several variables; for example, the sales price of your home, the amount financed, and the endorsements that are selected at the time of closing; therefore, this rate calculator should be used as a reference tool only. For more information on purchasing title insurance in Texas, please call us at 877-936-8485 or email us at titlegenius_sales@radian.com.

An additional fee may be charged by RADIAN for document preparation related to the execution of a CEMA (Consolidation Extension Modification Agreement) or a Mortgage Subordination. In certain states, where allowed by law and in accordance with custom and practice, RADIAN will obtain an attorney to prepare a transfer deed on your behalf, if requested. Settlement services are provided by RADIAN or independent settlement providers.