Doma Customer AdvantageFirst Closes Loans Up to 30 Days Faster by Leveraging Doma’s Instant Title Commitments

Rhea-AI Summary

Doma Holdings, Inc. (NYSE: DOMA) has announced that its technology-driven title solutions significantly enhance the operations of AdvantageFirst. By utilizing Doma's instant title technology, AdvantageFirst has reduced processing times for refinance title orders from 10 days to under one minute for 77% of orders. This efficiency enables faster loan closings, reducing transaction times by up to 30 days and providing direct savings of up to $600 per refinance. The partnership aims to expand AdvantageFirst's offerings across the East Coast while increasing customer satisfaction.

Positive

• AdvantageFirst reduced refinance title processing times from 10 days to under one minute for 77% of orders.
• Transaction times for loans are now closing up to 30 days faster.
• Customers can save up to $600 per refinance transaction due to increased efficiency.

Negative

• None.

Doma’s dedicated service model coupled with its instant title technology enables AdvantageFirst to compete with bigger lenders and aggressively expand into new regions while achieving time and cost-savings benefits for its customers

SAN FRANCISCO--(BUSINESS WIRE)-- Doma Holdings, Inc. (NYSE: DOMA), a leading force for disruptive change in the real estate industry, today announced that its technology driven title solutions, powered by the Doma Intelligence platform, are helping to drive growth and significant business results for AdvantageFirst, a company renowned for its dedication to enhancing the customer experience in all aspects of its business.

Prior to working with Doma, AdvantageFirst experienced long wait times from title providers, which led to increased costs and a diminished capacity to process loans. Since it began using Doma’s technology to process refinance title orders instantly, AdvantageFirst’s processing times, which once took up to 10 days, have been drastically accelerated. In fact, 77 percent of such orders AdvantageFirst processes in most states receive a title decision in under one minute.

“Doma’s communication is night and day compared to what we were used to,” said Jeff Ravenstine, Executive Vice President of Operations at AdvantageFirst. “Between fast response times and deployment of instant title technology, we’re now closing up to 30 days faster. We’re excited to continue working and growing our partnership with Doma to further streamline our operations as we expand our offerings across the East Coast.”

Using Doma’s technology and dedicated concierge service, AdvantageFirst borrowers can be assured their transactions will be completed accurately and swiftly, with direct savings of up to $600 per refinance transaction.

“It’s impressive to see firsthand the efficiency gains AdvantageFirst has been able to achieve by implementing Doma’s technology so far,” said Max Simkoff, Doma CEO. “We’re proud to work with a company that is committed to providing its customers with an instant, digital closing experience and look forward to helping AdvantageFirst continue to exceed the expectations of its customers.”

About Doma
Doma is architecting the future of real estate transactions. The company uses machine intelligence and its proprietary technology solutions to transform residential real estate, making closings instant and affordable. Doma and its family of brands – States Title, North American Title Company (NATC) and North American Title Insurance Company (NATIC) – offer solutions for current and prospective homeowners, lenders, title agents, and real estate professionals that make closings vastly more simple and efficient, reducing cost and increasing customer satisfaction. Doma’s clients include some of the largest bank and non-bank lenders in the United States. To learn more visit doma.com.

About AdvantageFirst
At AdvantageFirst, our team is dedicated to providing our clients with the highest quality financial services possible. We believe educating clients is paramount to a smooth transaction. Clients put their trust in us that we will deliver the rates, costs, and products we have promised in the timeframes they expect. We hold this promise in the highest regard and are determined to fulfill it. For more information visit advantage1st.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220105005298/en/

Media Contact:

Camilla Whitmore

camilla.whitmore@doma.com

Source: Doma Holdings, Inc.