SAN FRANCISCO–(BUSINESS WIRE)–Doma Holdings, a leading force for disruptive change in the real estate industry, has announced the sale of its Texas and Midwest Local Retail Title Operations to Capital Title of Texas and Near North Title Group, respectively. The completed sales include multiple retail title locations and operations centers in the Texas, Illinois, Indiana, Minnesota and Wisconsin regions.
“These strategic transactions are aligned with our mission-driven go-forward strategy and refined focus on our core underwriting and technology business,” said Max Simkoff, Founder and CEO of Doma. “Our Texas and Midwest operations have a track record of providing excellent customer service. We believe we have found optimal homes for our Local team members in the branches we have sold. I want to thank these teams for their hard work and dedication to Doma and our vision over the years.”
This transaction follows Doma’s announcement on its first quarter 2023 earnings call that it had been conducting a comprehensive review of the business over the last several months to evaluate the optimal organization structure to successfully deliver on its mission to make homebuying more affordable and to maximize shareholder value. Doma’s go-forward strategy is centered around harnessing the power and benefits of its instant underwriting technology via the efficient and profitable distribution of its core technology by external partners with the end goal of bringing down refinance specific costs for homeowners. In connection with the transactions, Houlihan Lokey is acting as a financial advisor to Doma and Mayer Brown LLP is acting as legal counsel to Doma.
About Doma Holdings, Inc.
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 The Shaddock Title Companies:
The Shaddock Title Companies are a leading national provider of title, escrow and title insurance services. With a commitment to excellence, innovation, and customer satisfaction, The Shaddock Title Companies have built a strong reputation in the industry. Members of The Shaddock Title Companies include Capital Title of Texas, First National Title Insurance Company, Landmark Title – Arizona, Landmark Title – Nevada, US Title – Utah, Southwest Title – Arkansas, Homestead Title – Colorado, Santa Fe Title – New Mexico and Continental Title – Missouri and Kansas.
About Near North Title Group
Near North Title Group is a fully integrated title, escrow, construction escrow and 1031 exchange company that for over 30 years has provided clients with a comprehensive portfolio of commercial and residential services nationwide. Near North’s national commercial operations and residential Midwest and Florida offices facilitate over $10 billion in yearly transaction volume throughout nearly 60 locations, making it one of the strongest commercial title agents in the country and one of the largest residential agents in the Midwest. Near North is continuously expanding its market presence through acquisitions and organic growth as it provides customized solutions to its clientele, leveraging years of industry expertise and underwriter relationships that allow for maximum flexibility in facilitating even the most complex real estate transactions.