May 18, 2021

SAN FRANCISCO–(BUSINESS WIRE)–Doma, a leading force for disruptive change in the real estate industry, today announced that its Doma Intelligence platform combined with its title and escrow solutions will help power the real estate closing experience for Wells Fargo & Company (NYSE: WFC). The relationship will enable Wells Fargo to leverage Doma’s proprietary machine intelligence technology to remove key points of friction and frustration involved in the traditional way of fulfilling mortgage closings, for both loan officers and mortgage customers. Today’s announcement comes on the heels of Doma entering into a business combination agreement in March 2021 with Capitol Investment Corp. V (NYSE: CAP, CAP WS and CAP.U) (“Capitol”), a publicly traded special purpose acquisition company.

“At Wells Fargo, our customers trust us with their finances through some of the most pivotal moments of their lives, including their real estate transactions, and our priority is on continuing to enhance our customer experience. In order to do that, it’s essential that we embrace modern-day digital tools that maximize efficiency,” said Kristy Fercho, Head of Wells Fargo Home Lending. “Doma’s technology-led approach to instant title underwriting and more streamlined closing is aligned with our commitment to reduce time to close, lower costs for our customers, and create an exceptional experience.”

“Digital experiences in the mortgage industry are increasingly becoming table stakes as customers expect speed, control, and transparency,” said Max Simkoff, CEO of Doma. “This trend has only been accelerated by the pandemic, and is why the most successful financial institutions are prioritizing a tech-first approach to real estate transactions. We’re thrilled to be working with Wells Fargo to help provide their customers with an efficient and smooth mortgage closing process in today’s competitive market.”

Doma is a technology company focused on creating a vastly simpler, efficient, and affordable closing experience for current and prospective homeowners, lenders, title agents, and real estate professionals. Founded in 2016, Doma uses proprietary machine intelligence technology, that is being trained on 30 years of historical data, to remove the friction and frustration from the residential real estate closing process.

About Doma

Doma (formerly States Title Holding) is architecting the future of real estate transactions. The company uses machine intelligence and its patented technology solutions to transform residential real estate, making closings instant and affordable. Doma and its family of brands – States Title, North American Title Company (NATC) and North American Title Insurance Company (NATIC) – offer solutions for lenders, real estate agents, title agents, and homeowners that make closings vastly more simple and efficient, reducing cost and increasing customer satisfaction. Doma’s clients include some of the largest bank and non-bank lenders in the United States. In March 2021, Doma announced plans to become publicly traded via a merger with Capitol Investment Corp. V (NYSE: CAP, CAP WS and CAP.U).

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle-market companies and small businesses in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 30 on Fortune’s 2020 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy.

About Capitol Investment Corp. V

Capitol Investment Corp. V is a $345 million public investment vehicle with the mission to invest in and help build an industry-leading public company that will aim to deliver long-term value to shareholders. Capitol is led by Chairman and Chief Executive Officer, Mark D. Ein, and President and Chief Financial Officer, L. Dyson Dryden. The Capitol team has raised $1.5 billion in five SPACs since 2007 and closed four SPAC mergers. Capitol’s securities are listed on the New York Stock Exchange under the ticker symbols CAP, CAP WS, and CAP.U.

Additional Information and Where to Find It

This press release relates to a proposed transaction between Doma and Capitol. This press release does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale, or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Capitol has filed a registration statement on Form S-4 with the U.S. Securities and Exchange Commission (the “SEC”), which includes a document that serves as a prospectus and proxy statement of Capitol, referred to as a proxy statement/prospectus. A proxy statement/prospectus will be sent to all Capitol stockholders. Capitol also will file other documents regarding the proposed transaction with the SEC.