Title tech provider boosts revenue by 18%, halves EBITDA loss to $3M as $85M merger with Dallas, Texas-based title insurance underwriter Title Resources Group to close later this year
Real estate’s Q1 earnings are in. From CoStar’s revenue surge to Opendoor’s slump, we have all of the highs and lows
San Francisco-based title tech provider, set to be acquired by Title Resources Group, posted a $20.6M Q1 2024 net loss Tuesday, down 46% from a year ago but little improved from Q4 2023
If approved by shareholders and regulators, the proposed merger would result in an all-cash $85M transaction, with TRG acquiring Doma's outstanding shares at 38% premium of $6.29 per share
After a 'transformational year,' CEO Max Simkoff says Doma is well positioned to help lenders take advantage of the Biden administration's push to reduce closing costs for mortgage borrowers
Deals with Capital Title of Texas and Near North Title Group follow on sale of 22 retail title locations and operations centers in California to Williston Financial Group
Shares in digital title and closing provider climb above $5, and the company will be back in the exchange's good graces if its share price remains above $1 for the next 30 trading days
The struggling digital title and closing provider is set to receive up to $24.5M, with up to $14M in earnouts 'based on the retention of specified employees' by WFG
The industry dodged a meltdown, but skyrocketing mortgage rates fueled a rush to 'right size' and helped crown a new leader in mortgage lending
Series A investor Aquiline Technology Growth led the latest funding round following the closure of a new $365M fund, Aquiline Technology Growth Fund II, back in May
As lenders pivoted from refinancing to more complex purchase loan transactions, independent title insurers saw premiums written drop by 18.4% from a year ago
Qualia API users can automatically place and track title orders and access order, accounting and contact data to build custom notifications and performance dashboards
Layoffs of 561 workers will generate $70M in annual costs savings, buying time for title insurer to adapt its 'instant underwriting' technology for purchase loans
The new suite of APIs automatically opens orders, tracks transaction status, exchanges documents and provides custom reporting features and notifications
The housing industry has shed thousands of jobs recently, and more cuts may be in store. But some companies are handling the situation better than others