Doma Brings Machine Studying Expertise to Roughly 83% of US Residential Actual Property Market

Enlargement represents a key milestone within the firm’s plans to make the Doma Intelligence platform accessible nationwide*

SAN FRANCISCO, December 20, 2021–(BUSINESS WIRE)–Doma Holdings, Inc. (NYSE: DOMA), a number one power for disruptive change in the true property trade, introduced the growth of the Doma Intelligence platform within the States of Washington, Utah, Maine, Tennessee, and Mississippi and the Commonwealth of Kentucky bringing its complete protection of the residential actual property market in the US to roughly 83 % based mostly on gross written premium. Doma prospects, which embody main financial institution and non-bank mortgage lenders, can now provide a quicker, extra environment friendly, and extra reasonably priced closing expertise for customers.

Chase, Wells Fargo, Homepoint, and PennyMac are amongst these at present using Doma’s proprietary, machine learning-driven prompt underwriting and charge balancing options to automate essentially the most time consuming parts of the title and escrow workflow. With as much as 50 % fewer touches through the closing course of, lenders, title brokers, and actual property professionals can ship as much as 15 % quicker closings and as much as 20 % value financial savings for present and potential owners versus conventional processes.

In Q3 2021, Doma elevated closed orders in its Enterprise section by 386 % versus Q3 2020 demonstrating a powerful want from mortgage lending prospects to leverage the Doma Intelligence platform and develop throughout extra markets. “As we proceed to outpace the trade and develop into new markets, our give attention to combining machine learning-driven know-how with bespoke operations will make easy, prompt, and digital closings the brand new regular,” stated Max Simkoff, CEO of Doma. “These extra markets take us nearer to our purpose of offering nationwide protection with the Doma Intelligence platform.”

*Aside from Iowa, which doesn’t take part within the personal title insurance coverage trade.

About Doma Holdings, Inc.
Doma (NYSE: DOMA) is architecting the way forward for actual property transactions. The corporate makes use of machine intelligence and its proprietary know-how options to rework residential actual property, making closings prompt and reasonably priced. Doma and its household of manufacturers – States Title, North American Title Firm (NATC) and North American Title Insurance coverage Firm (NATIC) – provide options for present and potential owners, lenders, title brokers, and actual property professionals that make closings vastly extra easy and environment friendly, lowering value and rising buyer satisfaction. Doma’s purchasers embody a number of the largest financial institution and non-bank lenders in the US. To be taught extra go to doma.com.

Ahead-Trying Statements Legend
This press launch consists of “forward-looking statements” throughout the which means of the “protected harbor” provisions of the US Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements could also be recognized by means of phrases similar to “estimate,” “plan,” “challenge,” “forecast,” “intend,” “will,” “anticipate,” “anticipate,” “imagine,” “search,” “goal” or different comparable expressions that predict or point out future occasions or developments or that aren’t statements of historic issues. The absence of those phrases doesn’t imply {that a} assertion just isn’t forward-looking. Such statements are based mostly on the beliefs of, in addition to assumptions made by data at present accessible to Doma administration. These forward-looking statements could embody, however should not restricted to, statements relating to estimates and forecasts of economic and efficiency metrics, projections of market alternative, complete addressable market (“TAM”), market share, competitors and the potential advantages of our software program platforms and know-how. These statements are based mostly on numerous assumptions, whether or not or not recognized on this press launch, and on the present expectation of Doma’s administration and should not predictions of precise efficiency. These forward-looking statements are supplied for illustrative functions solely and should not supposed to function, and should not be relied on by any investor as, a assure, an assurance, a prediction or a definitive assertion of reality or likelihood. Precise occasions and circumstances are troublesome or not possible to foretell, will differ from assumptions and are past the management of Doma.

These forward-looking statements are topic to plenty of dangers and uncertainties, together with adjustments in enterprise, market, monetary, political and authorized situations; dangers referring to the uncertainty of the projected monetary data with respect to Doma; future world, regional or native financial, political, market and social situations, together with because of the COVID-19 pandemic; the event, results and enforcement of legal guidelines and laws, together with with respect to the title insurance coverage trade; Doma’s capacity to handle its future development or to develop or purchase enhancements to its platform; the consequences of competitors on Doma’s future enterprise; and the end result of any potential litigation, authorities and regulatory proceedings, investigations and inquiries. Further data relating to these and different dangers and uncertainties is included within the filings we make with the Securities and Change Fee every now and then.

If any of those dangers materialize or Doma’s assumptions show incorrect, precise outcomes might differ materially from the outcomes implied by these forward-looking statements. There could also be extra dangers that Doma doesn’t presently know or that Doma at present believes are immaterial that might additionally trigger precise outcomes to vary from these contained within the forward-looking statements. As well as, forward-looking statements replicate Doma’s expectations, plans or forecasts of future occasions and views as of the date of this press launch. Doma anticipates that subsequent occasions and developments will trigger Doma’s assessments to alter. Nonetheless, whereas Doma could elect to replace these forward-looking statements in some unspecified time in the future sooner or later, Doma particularly disclaims any obligation to take action, besides as required by legislation. These forward-looking statements shouldn’t be relied upon as representing Doma’s evaluation as of any date subsequent to the date of this press launch. Accordingly, undue reliance shouldn’t be positioned upon the forward-looking statements.

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Contacts

Media Contact:
Martha Shaughnessy | The Key PR for Doma | [email protected]

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