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Doma Holdings, Inc. (NYSE: DOMA) is redefining the landscape of real estate transactions with its cutting-edge machine intelligence and patented technology solutions. Focused on making residential property closings both instantaneous and cost-effective, Doma Holdings operates through two primary segments: Underwriting and Corporate and Other.
The Underwriting segment is the backbone of the company's revenue, encompassing its title insurance underwriting business. This includes policies referred through both Direct Agents and Third-Party Agents channels. The title insurance underwriting business ensures that properties can be transferred smoothly and securely, giving peace of mind to buyers and sellers alike.
The Corporate and Other segment is integral to Doma Holdings' operations, covering the execution of title, escrow, and settlement services through the Doma Enterprise channel. This segment streamlines the closing process, leveraging the company's proprietary technology to enhance efficiency and reduce costs.
With a focus on innovation, Doma Holdings is continually enhancing its technology to bring about a new era in the real estate sector. Recent achievements include advancements in their machine learning algorithms, which have further improved the speed and accuracy of their closing processes. The company is also exploring new partnerships to broaden its service offerings and expand its market reach.
Financially, Doma Holdings remains robust, backed by consistent revenue generation from its underwriting business. The company's strategic approach in integrating technology with traditional real estate practices sets it apart from competitors, making it a significant player in the industry.
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.
Doma Holdings (NYSE: DOMA) has announced the expansion of its Doma Intelligence platform into five new U.S. states and Kentucky, increasing its coverage to approximately 83% of the residential real estate market. This expansion enables Doma's partners, including major mortgage lenders like Chase and Wells Fargo, to utilize advanced machine learning for faster and more cost-effective closing processes. In Q3 2021, Doma reported a significant 386% increase in closed orders compared to Q3 2020, highlighting robust demand for its technology.
Doma Holdings, Inc. (NYSE: DOMA) announces that Andy Mahdavi, Chief Data Science Officer, has been named a 2021 Tech Trendsetter by HousingWire. This recognition highlights leaders transforming the housing economy through innovative technology solutions. Mahdavi's work has enabled Doma to significantly reduce mortgage closing times, utilizing machine intelligence to streamline processes. Major clients include Chase, PennyMac, and Wells Fargo. The award signifies Doma's pivotal role in enhancing efficiency and customer satisfaction in real estate transactions.
Doma Holdings, Inc. (NYSE: DOMA) will participate in the KBW Innovation in Finance Conference, showcasing its commitment to transforming real estate. CEO Max Simkoff will join a panel titled 'The Race to Digitize the Homeownership Journey' on December 7, 2021, at 9:00 a.m. ET. Attendees can access the session via this link. Doma utilizes advanced technology to improve mortgage closing processes, aiming to provide affordable and efficient solutions for homeowners and lenders.
Doma Holdings, Inc. (NYSE: DOMA) will participate in the JMP Securities Financial Services and Real Estate Conference on November 18, 2021. CEO Max Simkoff will lead a panel discussing InsurTech and its impact on home buying and ownership. The session is set for 10:00 a.m. ET. A webcast link is provided for live viewing and an archived version will be available on Doma’s Investor Relations website. Doma aims to innovate real estate transactions through machine intelligence and proprietary technology, enhancing efficiency and customer satisfaction.
Doma Holdings, Inc. reported a robust Q3 2021, with total revenues of $163 million, a 34% increase from Q3 2020. Closed orders surged 39% to 35,300, while retained premiums and fees grew 31% to $71 million. Gross profit was $28 million (up 7%), and adjusted gross profit rose 10% to $30 million. Doma now projects 2021 revenues between $475 million and $525 million, affirming its growth strategy focused on enhancing its technology for home purchase transactions.
Doma Holdings, Inc. (NYSE: DOMA) has rescheduled its third quarter 2021 earnings conference call to November 10, 2021, at 5:30 pm ET. This call will provide insights into the company's financial performance and ongoing initiatives in revolutionizing real estate transactions through technology. The call can be accessed via toll-free dial-in or a live webcast, with a replay available on Doma's Investor Relations website. Doma aims to enhance the efficiency and affordability of closing processes for real estate.
Doma Holdings, Inc. (NYSE: DOMA) will release its third quarter 2021 financial results on Wednesday, November 10, 2021, after market close. Following the announcement, management will conduct a conference call at 5:00 pm ET to discuss the results and field questions from analysts. Interested parties can join the call by dialing 1-844-615-6508, using passcode 5855336, or via a live webcast accessible here. Archived access will be available on Doma's Investor Relations website.
Doma Holdings, Inc. (NYSE: DOMA) will engage with institutional investors at the D.A. Davidson 20th Annual Software and Internet Conference and the JMP Securities Fintech Forum. CEO Max Simkoff will host fireside chat discussions and one-on-one meetings at both events.
The D.A. Davidson conference is set for September 9, 2021, at 10:00 a.m. PT, while the JMP Securities Forum will occur on September 10, 2021, at 8:45 a.m. PT. Archived webcasts of these sessions will be available later on Doma's Investor Relations website.
Doma Holdings, Inc. (NYSE: DOMA) reported strong financial results for Q2 2021, with total revenues reaching $130 million, up 29% year-over-year. Retained premiums and fees surged by 46% to $65 million, driven by a 44% increase in closed orders, particularly from its Enterprise channel, which saw a 519% rise. The company raised its 2021 guidance for retained premiums to $250-$260 million and adjusted gross profit to $95-$105 million, reflecting robust growth and technological advancements. Doma aims to revolutionize the home closing experience and has expanded its market presence to over 75% of U.S. mortgage volume.
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