Opendoor to acquire Doma unit to cut refinance costs via automated closings
Opendoor is acquiring part of Doma, with 85 Doma employees joining Opendoor, to automate closings (title, escrow, underwriting) and reduce refinance costs. Doma’s tech supports a Fannie Mae pilot extended through 2027 that allows certain low‑risk refinances to skip lender’s title insurance. Closing costs beyond title remain, and refinancing demand has fallen as mortgage rates rise amid geopolitical tensions. Opendoor projects roughly $1,100 saved per refi and aims to grow its closing-services share even if total refis shrink.