Doma Holdings announced home equity financial platform Point is leveraging the machine learning-driven Doma Intelligence platform to scale its operations.
“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,” Point co-founder and CEO Eddie Lim said in a release. “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.”
Since onboarding with Doma, Point said it increased its order volume by about 200 percent across 17 states in four months and received title clearance in under a minute in over 70 percent of its orders.
Point said it also has improved many of its key operational metrics, including processing times for title commitments, time to receive clear to close for investments and customer service responses.
“It’s inspiring to see how Point has implemented Doma’s technology to enable homeowners to access their home equity,” Doma CEO Max Simkoff said. “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.”