Opendoor has agreed to acquire the closing and escrow operations of Doma Holdings, a move that would extend the iBuyer’s reach into refinance closings and deeper into title automation, the companies announced on Tuesday. Financial terms of the deal were not disclosed.

The deal, which is subject to regulatory approval, is paired with a three-way partnership between Opendoor, Doma and Fannie Mae on the government-sponsored enterprise (GSE)’s Title Acceptance Program. The initiative allows eligible refinance loans to close without a lender’s title insurance policy, replacing traditional manual title searches with algorithmic risk assessments.

Doma’s technology details ⇒

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