Since AdvantageFirst began using Doma’s technology to process refinance title orders, processing times have been drastically accelerated, according to Doma. Such orders once took up to 10 days. Now, 77 percent of such orders receive a title decision in under one minute.
“Doma’s communication is night and day compared to what we were used to,” AdvantageFirst Executive Vice President of Operations Jeff Ravenstine said in a release. “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.”
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, according to Doma.
“It’s impressive to see firsthand the efficiency gains AdvantageFirst has been able to achieve by implementing Doma’s technology so far,” Doma CEO Max Simkoff said. “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.”