Today's animal spirits talker book is brought to you by DOMA.

You can go to DOMA.com to learn how they were changing real estate transactions.

And Michael's most hated thing in the world, title insurance.

I guess you can go to their website or ask your lender if they're using DOMA,

and if not, why aren't they? DOMA.com.

Welcome to Animal Spirits, a show about markets, life, and investing.

Join Michael Batnik and Ben Carlson as they talk about what they're reading

and watching. Michael Batnik and Ben Carlson work for RIT Holt's Wealth Management.

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decisions. Clients of RIT Holt's Wealth Management may maintain positions in the securities

discussed in this podcast. Michael, this is a big day. Huge day. We have been circling this one

for a while. You hate title insurance. We've talked about that. I hate it as well. We've both

gone through a number of refinances over the years. Thank you, Jerome Powell, and the company for that.

And it never made sense to us why closing costs were so high and why this title insurance thing

actually exists. And why you have to pay for title insurance every single time you refi?

You've already established that you own the house now or you've already insured. I just don't get it.

Yes. I actually kind of understand why it's still check that box if you're buying a new house

or selling your house. But when you're refinancing and I refinanced three times with my current house,

guess what? I'm pretty secure in that title and not having to pay that. So Max Simkov

founded Doma because he was going through the same thing. We've wanted to talk with him for a while

...