Max Simkoff on pandemic operations
From Ask the Expert ft. Jay Plum: Consumer Lending Predictions for 2021 · · Doma
“Maybe if we could just start with — we'd love to hear how this environment has affected your team at Huntington and how you've managed through it.”
On , Max Simkoff, Cofounder at Doma, spoke about pandemic operations during Ask the Expert ft. Jay Plum: Consumer Lending Predictions for 2021 on Doma.
About Max Simkoff
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.