Doma client concludes loans 30 days faster | News

Since AdvantageFirst began using Doma’s technology to process securities refinancing orders, processing times have been significantly accelerated, according to Doma. These orders used to take up to 10 days. Today, 77 percent of those orders receive a headline decision within a minute.

“Doma communicates day and night compared to what we were used to,” Jeff Ravenstine, executive vice president of operations at AdvantageFirst, said in a statement. “Between the rapid response times and the deployment of instant title technology, we are now closing up to 30 days faster. We are excited to continue to work and grow our partnership with Doma to further streamline our operations as we expand our offerings on the East Coast. “

Prior to working with Doma, AdvantageFirst experienced long wait times from title providers, which resulted in increased costs and decreased loan processing capacity, according to Doma.

“It’s impressive to see first-hand the efficiency gains AdvantageFirst has been able to achieve by implementing Doma’s technology so far,” said Max Simkoff, CEO of Doma. “We are proud to work with a company that is committed to providing its customers with an instant digital closing experience and we look forward to helping AdvantageFirst continue to exceed customer expectations. “