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adian, a leading US mortgage and real estate service firm with over $5 billion in market capitalization, has integrated R3's Corda enterprise blockchain into its Titlegenius offering. This workflow system for real estate title transfers utilizes distributed ledger technology (DLT) to store documents and transfer data, providing transparency throughout the process.

    By leveraging DLT, Radian claims to reduce closing costs by an average of 25%. The traditional title transfer process involves verifying property history, ensuring no surprises or outstanding liens. This typically includes drafting a final deed of transfer and involving various parties such as buyers, real estate agents, mortgage providers, and lawyers.

    The integration of Corda enables all parties to access an up-to-date record of the transaction's status. Radian's Senior Vice President of Title, Steven Stipetich, stated that the collaboration with R3 aims to simplify and streamline this complex process for clients.

    Corda is also used by UK property technology firm Coadjute, which provides a platform to share data between different real estate software solutions. Founded in 2018, Coadjute has backing from major UK banks including Lloyds, Natwest, and Nationwide.