The deal pairs Opendoor's closing technology with Doma's AI-driven title automation
Inman celebrates the most comprehensive recognition of property technology innovation to date, honoring leaders across 10 categories transforming the residential real estate landscape
Doma claims Upfront Title can saves borrowers 40% to 70% on title insurance and that in a trial run with Mr. Cooper the solution cut loan cycles by 3 days and saved borrowers hundreds of dollars
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
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
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
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
Executives say layoffs will save the company about $30M a year and help it bring its technology to bear on purchase mortgages
Company races to adapt technology it pioneered to provide instant underwriting of title insurance for refis to be used on more complex purchase loans
Digital title and closing provider Doma raised less than anticipated in a SPAC merger this week after paying out nearly $295M to early investors who redeemed their shares
CEO Max Simkoff says Doma provides a 'white label' closing solution to real estate agents that provides a better consumer experience
The startup, which is aimed at digitizing the transaction process, plans to go public through a blank check merger with Capitol Investment Corp. V