Doma is on the verge of becoming a publicly traded title insurer, with the shareholders of proposed corporate partner Capitol Investment Corp. V.
When the transaction is complete, Doma will join the big four underwriters Fidelity, First American, Old Republic and Stewart as public companies along with Investors Title; a sixth underwriter, the former Entitle Direct, is a unit of the mortgage insurer Radian Group.
Although Doma's, North American Title's underwriting business has grown, it still had only a quarter of its open orders, the No. 4 Stewart produced in the first quarter.
Even after the IPO, Doma's largest shareholder will remain Lennar, the home builder who sold the North American Title to the then States Title. That partnership continued and has been fruitful for Doma, said CEO Max Simkoff.
Simkoff spoke to National Mortgage News about the IPO and the market landscape for the securities business. Questions and answers have been edited for length and clarity.