Lodasoft, the digital workflow platform, and Doma, provider of machine-intelligence solutions, will be integrating their products to make real estate closings simpler and more efficient.
Trained on 30 years of historical data, Doma uses proprietary machine intelligence technology to remove friction and frustration during the real estate closing process. Doma envisions an instant, digital real estate closing process that not only benefits leaders but also real estate professionals, title agents, as well as current and prospective homeowners. The entire process is streamlined to suit everyone’s needs.
The Lodasoft and Doma product integration will replace time and labor-intensive title search processes with predictive analytics algorithms. Doma delivers clear-to-close decisions on over 80% of title insurance orders for refinance transactions in one minute or less.
Loans processed through the Doma intelligence platform received an instant clear-to-close for 84% of transactions. This helps the lender achieve a 23% (3 days) reduction in business days to close, resulting in additional revenue and a 93% customer satisfaction score.
Adam Batayeh, President of Lodasoft, said, “Mortgage lenders using our award-winning platform now have access to expedient, comprehensive, and accurate title and closing services, ensuring their clients can move forward with their purchase or refinance. Rather than merely improving an aged system, Doma has reinvented how the entire settlement process is done, and we’re pleased to make that available to our clients.”
Lodasoft was designed by mortgage veterans to eliminate redundancies and ensure users feel familiar with the platform. Now Lodasoft’s configurable engine includes Doma, offering mortgage professionals the ability to simplify the entire process from prospect to pre-qual, in process, post-close, and beyond.
For more information about this technology, please visit www.lodasoft.com
