Opendoor moves into closing and escrow with Doma deal, Fannie Mae partnership

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 has been used by Fannie since 2024 in an agreement extended through 2027. Low-risk title refinances are sold to the GSE without lender’s title insurance or an attorney opinion letter (AOL), which has been the case for about 80% of the deals. It results in shorter timelines and lower closing costs. CNBC first reported on the transaction. 

“Closing a home costs too much and takes too long. Not because it has to, but because the industry was never organized to fix it,” Opendoor President Lucas Matheson wrote in a LinkedIn post. “Doma built the technology that makes the risk decision. We close the transaction. This is what it looks like to actually build toward making homeownership more affordable.”

The announcement characterizes lower transaction costs as a bipartisan priority, noting that federal housing policy and private-sector innovation are aligned on expanding options like the Title Acceptance Program.

The acquisition covers Doma’s downstream closing and escrow operations. The unit’s 85 staff members will join Opendoor, bringing lender relationships and operational experience in high-volume closings, according to the announcement.  

Opendoor said it has already closed more than $100 billion in purchase and financing transactions nationwide. The company recently launched a mortgage product, which promises below-market interest rates after the company removed its markup. Doma’s algorithms evaluate title risk for eligible Fannie Mae refis, and Opendoor completes the closing and escrow work.

The iBuyer has long pitched itself as a way to make buying and selling a home “simple, certain and fast,” but the company acknowledged that the closing process has been the hardest part of that promise to deliver. The Doma acquisition is meant to give Opendoor more control over that last mile of the transaction.

Opendoor reported a net loss of $1.3 billion in 2025, although company executives have said the iBuyer is on track to return to profitability.

Flávia Furlan Nunes reported and wrote this article with drafting assistance from HousingWire Automation, an editorial tool that helps transform announcements and industry data into HousingWire-style news coverage.