Ask the Expert ft. Jay Plum: Consumer Lending Predictions for 2021
Jay Plum, Executive Vice President of Consumer Finance, Huntington Bank joins Doma's CEO, Max Simkoff to discuss the impactΒ ...
Cofounder, Doma
Search every verified Max Simkoff interview, podcast appearance, and on-the-record quote β each transcript cross-checked by AI and human review to confirm speaker identity. Max Simkoff, cofounder and CEO of Doma (formerly States Title), has been discussing the company's efforts to use technology to streamline the mortgage closing process. He has stated that the company's value proposition is "better, faster, cheaper," and that its machine learning platform can underwrite title insurance instantly for many transactions, with some lender partners seeing loans close four to five days faster. Simkoff has described his motivation for founding the company as stemming from his own experience closing a mortgage, which he found to be time-consuming and opaque. He has also noted that the company is not currently profitable but is investing in technology and expects closed order growth to exceed 50% annually. Simkoff has also spoken about the company's decision to go public via a SPAC merger with Capitol Investment Corp. V, which he said allowed Doma to control the process and be selective in building its investor base. He has discussed partnerships with large mortgage originators including Chase Home Lending, PennyMac, and Homepoint, and has described Lennar as a strategic partner and largest shareholder. In interviews, Simkoff has emphasized the importance of hiring people who are willing to take on difficult challenges, stating that he looks for candidates with a "chip on their shoulder" and who are willing to do things that others say cannot be done.
“Maybe if we could just start with β we'd love to hear how this environment has affected your team at Huntington and how you've managed through it.”
“Mortgage in general and consumer lending broadly has historically been relationship-centric; have you seen a change given social distancing and in-person restrictions β has that made it harder for people to walk into a branch or even to do a closing?”
“I've heard this repeated about the future of e-closing: what is lacking in the current landscape that, if solved, would make everybody default to the electronic option? (As an ironic aside: California happens to be still the only state where you cannot do a remote online notarized electronic closing.)”
“It looks likely we will have a change in political leadership β how do you think that will affect the mortgage industry broadly, and specifically the GSE conservatorship question and forbearance policies?”
“Welcome everyone to our Ask the Expert series, where we get a chance to ask industry leaders about their unique perspective on how to navigate the most difficult challenges faced by the broader real estate financial services ecosystem. My name is Max Simkoff β I'm the CEO at States Title β and today I am super excited...”
“So let's just start by talking about what InsurTech is β for everyone's benefit I think it helps to start by defining InsurTech: what in your mind makes a company true InsurTech versus just some incremental twist on an old-line insurance business?”
“Which metrics do you think are the best to look at to gauge the true health and success of an InsurTech business that is rapidly scaling, and how do you tell the difference between metrics that indicate a company is working and those that companies point to that might actually mean the opposite?”
“About four years ago we were pitching you on why we felt there was a better way to produce title insurance for US consumers β reduce friction, frustration, expense and time β which did entail launching our business with an entirely different business model where we were actually insuring real risk; ultimately you helpe...”
“What is the role of reinsurers in promoting innovation in insurance and mortgage markets, and how is SCOR specifically working to help get new solutions to market faster through that framework?”
“You mentioned appraisal, title, PMI and homeowners insurance β all different policies around a home purchase that the homeowner pays for but sometimes with different beneficiaries; could we not consolidate all of these to have a single product to streamline this for the consumer?”
“Here's an audience question: what do you expect to happen in relation to PMI policies and foreclosures when the rolling forbearances end in Q1 of 2021?”
“I think there's a method. When you're going to hire people to help you achieve the impossible β to do something that everyone says can't be done β then you need to hire people who don't have any experience because by definition if somebody has experience solving problems the more experience they have generally the more...”
“You're looking for people who you click with β people that you can spend a lot of time being super stressed out with; it's like you're almost screening more for family members than you are for coworkers because you're going to go through some extreme highs and lows.”
“I like people who have a chip on their shoulder β they have something to prove to themselves, to their significant other, to their friends; somebody probably told them at some point that they weren't going to do X and it stuck with them and they didn't want to go through the traditional methods and hierarchies to get t...”
“Hire the unreasonable people because they're just going to insist on some level β I've never seen a startup succeed without some of that unreasonable insistence.”
Jay Plum, Executive Vice President of Consumer Finance, Huntington Bank joins Doma's CEO, Max Simkoff to discuss the impactΒ ...
Adrian Jones, Managing Director of Hudson Structured Capital Management, joins Doma's CEO, Max Simkoff to discuss the roleΒ ...
Founder, President and CEO of CMG Financial, Chris George, joins Doma CEO Max Simkoff to discuss how COVID-19 affectedΒ ...
Sarah Friar, Chief Executive Officer from the neighborhood social network, Nextdoor, joins Doma CEO Max Simkoff to discuss theΒ ...
Today's question: "How can I hire people who can do the impossible?" Max Simkoff is the Founder and CEO of Doma (fka StatesΒ ...
Doma (NYSE: DOMA), a real estate title insurer emphasizing technology and machine learning, recently announced its firstΒ ...
In this interview from The Motley Fool Live in July 2021, Max Simkoff of Doma shares why now is the time to disrupt the title industry, the uses of machine learning, and what Doma plans to do in the future. 00:00 Intro 00:40 What lead to you wanting to fix title? 02:39 How are you using machine learning to change title? 10:18 How does the current home selling market impact your business? 12:57 Why is Doma going public now important? 16:45 What are some other collaborations and relationships youβre willing to explore? 19:02 Are you working with both residential and commercial title? 19:52 Whβ¦
#DOMOCEO #DOMO #realestate Yahoo Finance's Myles Udland and Brian Sozzi spoke with Domo CEO Max Simkoff about how his company aims to simply the real estate buying process and the plans for his company to go public via a $3 billion SPAC deal. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. About Yahoo Finance Premium: With a subscription to Yahoo Finance Premium, getβ¦
CNBC's Brian Sullivan talks with Doma CEO Max Simkoff about how his company is disrupting the real estate industry, going public via a SPAC deal and the role of technology in the future of homebuying. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi Doma, a firm that looks to disrupt the real estate title insurance market, has agreed to combine with Capitol Investment Corp. V, a publicly traded special purpose acquisition company. Doma, formerly known as States Title, has a less than 1% share of the title market in the U.S. but projects to be atβ¦
Max Simkoff, CEO of Doma (formerly States Title) on transforming residential closings, the shifts coming to the century-old, multibillion-dollar title insurance industry, his partnership with Lennar and the regulatory boons brought about by the pandemic. In conversation with The Real Deal's Hiten Samtani
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