Doma’s Technology-First Title Solution Enables Financial Freedom for Point Home Equity Customers
July 27 2022 - 9:10AM
Business Wire
Doma Holdings, Inc. (NYSE: DOMA), a leading force for disruptive
change in the real estate industry, today announced that Point, a
home equity financial platform, is leveraging the Doma Intelligence
platform to quickly scale its operations and provide more financial
freedom to its customers. Through Doma’s machine learning-driven
Intelligence Platform, Point is experiencing some of the fastest
title commitments and customer service responses in the industry,
further matching Point’s goal for growth and customer
satisfaction.
Prior to working with Doma, title clear-to-close was a source of
delays for Point and its customers. As a company focused on scaling
its Home Equity Investment (HEI) offering, Point needed a
like-minded, tech-forward partner to enable its growth without
sacrificing the quality of customer service. Since onboarding with
Doma, Point has increased its order volume by approximately 200
percent across 17 states in only four months. Further, Point has
received title clearance in under a minute in over 70 percent of
its orders.
“Previously, getting title clear-to-close was a common source of
delays for us, which ultimately jeopardized the closing dates,
causing angst for our affected customers,” said Eddie Lim, CEO and
co-founder at Point. “Since partnering with Doma, we have seen both
a reduction in delays related to title and an increase in positive
feedback from homeowners about the smooth process—a win-win for
everyone involved.”
Using Doma’s proprietary, machine learning technology backed by
a first-class operations team, Point was able to improve many of
its key operational metrics, including processing times for title
commitments, time to receive clear to close for investments and
customer service responses. As a result, Point is able to provide
its customers with a different way to access to their home equity,
putting thousands of homeowners on a path towards financial
independence.
“It’s inspiring to see how Point has implemented Doma’s
technology to enable homeowners to access their home equity,” said
Max Simkoff, Doma CEO. “We look forward to continuing to support
Point’s rapid growth and our shared commitment to providing
homeowners with an instant and frictionless closing
experience.”
About Doma
Doma is a real estate technology company that is disrupting a
century-old industry by building an instant and frictionless home
closing experience for buyers and sellers. Doma uses proprietary
machine intelligence technology and deep human expertise to create
a vastly more simple and affordable experience for everyone
involved in a residential real estate transaction, including
current and prospective homeowners, mortgage lenders, title agents,
and real estate professionals. With Doma, what used to take days
can now be done in minutes, replacing an arcane and cumbersome
process with a digital experience designed for today's world. To
learn more visit doma.com.
About Point
Point is a home equity platform that makes home wealth more
valuable for everyone. With a Home Equity Investment (HEI) from
Point, homeowners can unlock their home equity, enabling them to
eliminate debt, get through periods of financial hardship, and
diversify their wealth. For investors, Point provides access to a
previously untapped asset class in the residential real estate
space. Founded in 2015 by Eddie Lim, Eoin Matthews and Alex
Rampell, Point is backed by top investors including Westcap,
Andreessen Horowitz, Ribbit Capital, Greylock Partners, Bloomberg
Beta, Redwood Trust, Atalaya Capital Management, Kingsbridge Wealth
Management, Deer Park Road Management, The Palisades Group, Alpaca
VC, and Prudential. To date, Point has raised over $170 million in
equity capital. The company is headquartered in Palo Alto, CA. For
more information, please visit www.point.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220727005139/en/
Camilla Whitmore | Lead, Public Relations for Doma |
press@doma.com
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