Making Home Closing Faster, Cheaper, and More Ce...

Our mission at Opendoor is to tilt the world in favor of homeowners and to get rid of the friction and costs in the path of homeownership. Today, we are taking a step towards doing this for homes that we do not buy or sell.

This is our first step towards Opendoor becoming the closing infrastructure for American real estate.

Today we're announcing the acquisition of the closing and escrow operations of Doma, subject to regulatory approval. As part of this transaction, Opendoor and Doma are partnering with Fannie Mae on the Title Acceptance Program, which eliminates the need for lenders' title insurance policies on eligible refinance transactions. For borrowers, that means hundreds and hundreds of dollars back in their pocket and days removed from their closing timeline. This is another example of how Opendoor is building technology to automate and scale antiquated and expensive processes from real estate to help homeowners.

Homeowners sit at the center of the most complex, expensive transaction of their life and have the least power in it. That's the problem Opendoor exists to solve. This acquisition is one more step toward fixing it end to end.

What Title Acceptance Actually Changes

Every refinance transaction in America has historically required a title search. A title company combs through public records, sometimes going back decades, to confirm there are no liens or ownership disputes. In the overwhelming majority of cases, there are no issues. The borrower paid for a process that produced no value. And then at closing the borrower is asked to pay for a lender's title insurance policy.

Fannie Mae's Title Acceptance Program is solving for that. For eligible refinance transactions, algorithmic risk assessment replaces the manual title search. No lender's title insurance policy required. The transaction closes faster. The borrower saves real money. With millions of Americans refinancing every year, the potential aggregate impact on housing affordability is significant. Refinancing your own house should be straight forward - you already own it.

Cheaper closings make refinancing more accessible. More accessible refinancing means more families can lower their monthly payments, reduce their interest burden, and build wealth through homeownership. That is a direct, measurable improvement in affordability.

A Policy Environment Pointing the Right Direction

Reducing the cost of homeownership is not a partisan issue. The Trump administration and FHFA Director Bill Pulte have made lowering the cost of housing transactions a priority, and the active expansion of programs like Title Acceptance reflects that commitment in concrete terms. We are building a business that is aligned with this direction, and we're grateful that federal housing policy and private sector innovation are pointing the same way. When they do, things move faster. The beneficiaries are the American families who have been absorbing unnecessary costs for decades.

What Opendoor Brings

Doma built the technology that makes title risk decisioning possible: the data models, the algorithmic assessment, the systems that determine eligibility for Title Acceptance. That infrastructure is hard to build and took years to develop.

Opendoor closes the transaction once the decision is made. We have been doing this at scale nationally on over $100B of purchase and financing transactions to date. Now we are bringing the same operational capability to refinance. The closing and escrow professionals joining Opendoor from Doma bring deep expertise, established lender relationships, and experience in exactly this kind of high-volume, high-stakes execution.

Together, these capabilities form a complete picture. Assess the risk. Close the transaction. Do it faster and cheaper than anyone else in the market.

The Bigger Goal

Opendoor's goal has always been to make buying and selling a home simple, certain, and fast. The closing process is where that promise has historically been hardest to keep because of the cost and complexity with little incentive to fix it.

We are fixing it. Every dollar of friction we remove is a dollar back in a homeowner's pocket. Every day we cut from the closing timeline is a day of uncertainty a family doesn't have to carry.

This acquisition positions Opendoor as the place where America closes. Every transaction type. Every market. Every borrower deserves a better experience than the one previously given to them.

This is how we tilt the world in favor of homeowners. We are just getting started.