Machine Learning

ML-powered Doma Expands Underwriting Capabilities in Texas

Doma

Doma’s machine intelligence powered title and escrow solutions now cover more complex real estate closing scenarios

Doma, a leading force for disruptive change in the real estate industry, today announced that it is broadening the capabilities of Doma Title, its title and escrow solution powered by the Doma Intelligence platform, to allow for a more streamlined closing process in Texas in accordance with the state’s strict regulatory requirements. Today’s announcement comes on the heels of Doma entering into a business combination agreement in March 2021 with Capitol Investment Corp. V (NYSE: CAP, CAP WS and CAP.U) (“Capitol”), a publicly traded special purpose acquisition company.

Powered by enhancements to the proprietary machine learning technology of Doma Intelligence, Doma Title can now access additional data sources to instantly process robust title searches, ensuring a high degree of compliance integrity and escrow efficiency. This expands Doma Title’s ability to identify property-level risks and outstanding title issues for resolution during the closing process.

“The title and escrow process in Texas is one of the longest and most complex in the United States. Advancing our title search technology in this market is an important step toward our goal of removing friction and frustration from the home buying process for everyone nationwide,” said Max Simkoff, CEO of Doma. “Every time we expand, we are one step closer to a future where painful real estate transactions are no longer the industry standard.”

Doma Title’s new title search capabilities will be available to the majority of Texans, covering major metropolitan areas including Dallas-Fort Worth, Austin, Houston, and San Antonio. This expansion reflects Doma’s commitment to provide friction-free experiences to as many borrowers as possible, even in states with strict regulations. Leading lenders that work with Doma, including Chase, Homepoint, and PennyMac, can now utilize the new capabilities of Doma Title for refinancing transactions in Texas.

Doma is a technology company focused on creating a simple, efficient, and affordable closing experience for current and prospective homeowners, lenders, title agents and real estate professionals. Founded in 2016, Doma uses proprietary machine intelligence technology, that is being trained on 30 years of historical data, to remove the friction and frustration from the residential real estate closing process.

For more such updates and perspectives around Digital Innovation, IoT, Data Infrastructure, AI & Cybsercurity, go to AI-Techpark.com.

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