Doma Holdings Inc. (NASDAQ: DOMA) stock plunged by 3.96% at last close whereas the DOMA stock price gained by 8.42% in the after-hours trading session. Doma is designing the real estate deals of the future. The company transforms residential real estate by utilizing machine intelligence and proprietary technology solutions to make closings quick and economical.
DOMA stock’ Update
Andy Mahdavi, Doma Holdings’ Chief Data Science Officer, was named a 2021 Tech Trendsetter by HousingWire, according to the company. The third annual list recognises the most influential and forward-thinking technology leaders in the housing industry.
The 2021 Tech Trendsetters are a group of elite product and technology professionals that have been instrumental in bringing breakthrough tech products to clients for HousingWire’s mortgage and real estate clients, and the award honours those who encourage growth for their clients.
Mahdavi and his colleagues are using machine intelligence to provide distinctive, technology-first solutions for everyone engaged in a real estate transaction’s closure. Mahdavi managed the introduction of the first title insurance model of its kind at Doma, which uses proprietary algorithms motivated by his previous experience in these broad applications of statistics to estimate risk for title issues.
Doma has indeed been ready to revert the most of title commitments in roughly 1 minute rather than the industry norm 3-5 days, and in some circumstances has been capable of reducing closing times from over 45 days to less than one week, thanks to its artificial intelligence-driven strategy. As a consequence, Doma’s customers include Chase, PennyMac, and Wells Fargo, among other significant mortgage originators and lenders.
Andy Mahdavi, Chief Data Science Officer at Doma commented that,
It’s a thrilling prospect to create technology that promotes such significant shift in an industry that has been way overdue for reform. Through technology supported by their machine learning algorithms, homeowners across the United States are finalizing their mortgages quickly and reliably, and he is thrilled to be acknowledged for this accomplishment among other outstanding technology professionals.