Doma Holdings Inc. has launched a home equity financing offering built for lenders, leveraging its Doma Intelligence platform to accelerate the title search for home equity loans and home equity lines of credit (HELOC).
Doma says its proprietary machine intelligence-powered solutions expedite the title and escrow process to lenders offering home equity financing products to help borrowers receive their funds faster, with up to 80% of title decisions delivered in minutes.
“In an environment of fluctuating interest rates and housing inventory, Doma addressed the need from lenders to close loans faster and minimize costs to better serve their customers in the current market,” says Max Simkoff, CEO of Doma. “Doma’s mission has always been to deliver a better, faster, and more affordable home closing experience, and we’re excited to expand our solutions for lenders’ shifting business and extend the digital-first benefits to the home equity financing market.”
Doma’s home equity financing solutions are comprised of both insured and uninsured service offerings including the ALTA Short Form Loan Policy, the ALTA Residential Limited Coverage Junior Loan Policy, Ownership and Encumbrance (O&E) Reports, and Legal and Vesting (L&V) Reports.
Image: “Home Equity” by aag_photos is licensed under CC BY-SA 2.0.