cropper
update
Trusted Local Realtor
update
  • Home
  • Categories
    • we buy houses
    • sell your house fast
    • stop foreclosures
    • baltimore
    • Extra News
March 12.2025
3 Minutes Read

Tomo Mortgage Secures $20M in Series B Funding to Transform Home Buying

New York skyline during sunset for Tomo Mortgage Series B funding.

Transforming the Mortgage Landscape: Tomo Mortgage's Latest Achievement

Tomo Mortgage is making headlines again, this time by securing a significant $20 million in its Series B funding round, which brings its overall investment to an impressive $130 million. Established by former Zillow executives, this ambitious digital mortgage lender aims not only to enhance the home-buying experience but also to reshape the entire mortgage industry with its innovative use of AI technology.

Pioneering a New Era in Home Buying

With Progressive Insurance joining the roster of investors—previously filled by Ribbit Capital, NFX, and DST Global Partners—this funding is set to drive Tomo’s expansion into new markets and bolster its team with loan officers and mortgage professionals in cities like Detroit, Seattle, and New York. The clear commitment from investors reflects a shared vision of modernizing the home-buying process and making it more accessible and less intimidating for customers.

The Heart of the Mission: Lower Costs, Improved Service

Tomo's core philosophy revolves around reducing unnecessary costs associated with traditional mortgage lending—excessive fees and complicated terms that have historically plagued consumers. CEO and Co-founder Greg Schwartz vocalizes this mission, stating, “Outdated business practices cost U.S. homebuyers billions every year.” Tomo is leading a charge to eliminate these financial pitfalls by harnessing AI to streamline processes, making mortgage approvals not only faster but also more affordable. On average, homebuyers stand to save about $4,000 during the closing phase, thanks to Tomo's commitment to transparency and straightforward pricing.

Growth Despite Industry Challenges

In a year marked by stagnation in the mortgage industry, Tomo has seen remarkable growth—reportedly 3.5 times over the past year. With its reception of AI-driven technology, the company has emerged as a strong player within the competitive lending market, boasting interest rates typically 0.50% to 1% lower than other lenders. Investors are particularly excited about Tomo's approach because, unlike many others in the industry, Tomo's use of proprietary technology allows them to cut out origination fees and lengthy processing delays, which are common pain points for borrowers.

A Vision for the Future

Looking ahead, Tomo is set to relocate its headquarters from Stamford, Connecticut to New York City, which could position it more favorably in the rapidly evolving fintech landscape. This strategic move underscores their intention to remain at the forefront of the industry by fostering continued growth and innovation. Progressive's Erwin Raeth shared insights on their collaboration, emphasizing how their dedication to understanding customer needs aligns perfectly with Tomo's mission.

Conclusion: A New Hope for Homebuyers

The strides made by Tomo Mortgage signal a transformative moment in the home-buying experience, combining technology and compassion for the consumer's journey. As they gear up for substantial hiring and product innovation, Tomo makes a compelling case not just for investors, but for potential homebuyers who have long sought a better avenue to homeownership. With innovative solutions and a focus on reducing costs, Tomo is shifting the paradigm and proving that it’s possible to modernize the mortgage market.

To find out more about how Tomo Mortgage can assist in your home buying journey, keep an eye on their upcoming initiatives and offerings!

Extra News

7 Views

0 Comments

Write A Comment

*
*
Please complete the captcha to submit your comment.
Related Posts All Posts
05.20.2026

Women Leaders in Real Estate: Unpacking Unfair Judgments and Challenges

Update Women Leaders in Real Estate: Breaking Through Barriers Despite notable progress, women in real estate continue to face unique challenges and biases that can hinder their rise to leadership positions. As recent statistics indicate, while women hold nearly 40% of commercial real estate positions globally, their representation diminishes significantly in senior leadership roles. The conversation surrounding women in real estate is crucial, especially as the industry navigates the changing landscape of gender equality. The Importance of Gender Diversity in Real Estate Gender diversity is not only a matter of equality; it brings significant value to organizations. Studies show that companies with women in leadership roles benefit from diverse perspectives and innovative solutions. Yet, many women still feel they must prove their capabilities more than their male counterparts, facing biases that undermine their professional contributions. Recognizing and addressing these biases is essential for fostering an environment where both women and men can thrive. Diverse Perspectives Drive Change To truly promote gender equity within the field, organizations must also embrace diversity that extends beyond gender. Inclusion of women from various backgrounds leads to richer discussions and better decision-making, particularly in sectors like real estate intertwined with environmental and social governance (ESG) initiatives. As highlighted by leaders in the space, having women at the decision-making table is crucial for sustainable progress. Implicit Bias: A Persistent Challenge Implicit bias continues to plague many industries, including real estate. Research indicates that even well-meaning individuals can unknowingly project bias in hiring and promotion processes. The perception that leadership qualities are more associated with men can subtly undermine women's chances for advancement. Recognizing this bias, which can manifest in everything from hiring practices to workplace dynamics, is a vital step in changing the narrative around women in leadership. Moving Forward: Strategies for Change For real estate firms to cultivate a truly inclusive environment, they must implement strategies that not only encourage female professionals to aspire to leadership roles but also empower them to succeed within these positions. Simple acts, such as mentorship programs and transparent promotion pathways, can significantly impact women’s career advancement. Organizations must take accountability and commit to change, ensuring diversity is not just an aspirational word but a lived reality. Inspiration from Trailblazing Women Women like Xana Muñiz and Caroline Tailleferd exemplify the shift toward greater female representation in leadership roles within real estate. Their stories highlight not just the challenges they've faced but also the resilience and determination that pave the way for future generations. As more women break through the glass ceiling, they bring invaluable insights that can lead to transformative changes across the industry. A Call for Ongoing Commitment As the industry continues to evolve, the inclusion of women's voices must remain a focal point. It is essential for current and future leaders to advocate for policies and practices that create equitable opportunities for all. Whether through formal education, mentorship, or corporate policy, reinforcing the visibility and efficacy of women in all sectors of real estate is paramount. In conclusion, while the path to gender parity in real estate has challenges, the resolve of women leaders and supportive allies signals a positive change ahead. By embracing diversity and actively addressing implicit biases, the industry can create a more equitable future.

05.20.2026

Why Women Leaders in Real Estate Are Judged Differently: Breaking the Mold

Update Women Leaders in Real Estate: Breaking BarriersIn an industry that has long been dominated by men, women are carving out their space in real estate with remarkable success as agents, negotiators, and leaders. However, despite the strides made toward gender parity, women in real estate still face unique challenges and hurdles, often judged by different standards than their male counterparts.The Balancing Act of Confidence and LikabilityWomen in real estate must master the intricate balance between being assertive and being likable. As highlighted by Kevelyn Guzman, real estate is one of the few industries where personality is part of the product. Women are often expected to negotiate fiercely for their clients while also being warm and approachable. In contrast, a male counterpart demonstrating the same aggressive negotiation tactics might be commended for strategy, while a woman can be seen as 'difficult.' This discrepancy underscores a broader issue of societal expectations based on gender.Professionalism vs. PassivityGuzman’s advice resonates: "Stop confusing professionalism with passivity." Women don’t need to conform to a narrower communication style to appease others. Instead, fostering a space where women feel confident to assert their expertise leads to clearer, more effective communication. Empowering women to advocate strongly for their clients without fear of judgment is crucial for developing true equality in the field.Judgment from Within: Further ComplicationsInterestingly, the harshest critics can sometimes come from fellow women. Female agents may criticize their peers for traits that are traditionally encouraged in men, such as ambition or visibility. This phenomenon has deep roots in years of limited opportunities for women, creating an environment where success feels scarce. As women navigate this landscape, they often find themselves managing not only their professional responsibilities but also the perceptions of their ambitions.Gender Equality Movement: Progress and RoadblocksSignificant progress has been made, as statistics indicate women now hold over 40% of roles in real estate. However, this representation significantly dwindles in upper management and executive positions. Reports from organizations like Deepki reveal the low numbers of women in leadership roles despite the majority of entry-level positions being filled by females. This gap needs to be addressed with stronger institutional support and policies aimed at inclusivity.Strategies for Change: Building a Supportive EnvironmentTo foster a more equitable landscape in real estate, companies need to amplify efforts that promote women into leadership positions. This includes mentorship programs, flexible working conditions, and policies that actively seek to dismantle bias. The success of women's leadership should not merely be discussed but actively pursued within organizational structures.The Future: Women Leading the WayWomen in leadership roles shape the future of the real estate sector and serve as inspirations for upcoming generations. Bold, confident women stepping into leadership positions can redefine industry standards and practices. Encouraging more women to take up space will ultimately benefit the industry as a whole. A transformation in perception and a commitment to dismantling longstanding biases will pave the way for more inclusive and effective leadership.Women in real estate face unique challenges, but with determination and strategic support, they continue to break barriers. By advocating for themselves and climbing the corporate ladder, they set a powerful example for future generations aspiring to enter the field. As we reflect on the continual fight for gender equality, it's imperative that both men and women support these efforts for a more inclusive future.

05.19.2026

Zillow Fights Back: A Judicial Battle for Chicago Listings Access

Update Zillow Fights to Protect Consumer-Friendly Listings in ChicagoIn a bold move, Zillow is turning to the judicial system to maintain its access to valuable real estate listings in Chicago, challenging the MRED (Midwest Real Estate Data) through a federal lawsuit. The stakes are high for the popular real estate search portal, which argues that losing direct access to listings would undermine the consumer-friendly practices it has established nationwide.On Monday, Zillow filed for a preliminary injunction in U.S. District Court in Northern Illinois to prevent MRED from cutting off its data feed. The tech giant claims that without immediate judicial intervention, it would be forced to compromise its newly established Listing Access Standards, a set of rules aimed at enhancing transparency and curbing the influence of private listing networks.What’s Driving the Dispute?The core of the conflict lies in the emergence of private listings, which have been gaining traction as real estate companies like Compass seek to offer more options for sellers who prefer less restriction when marketing homes. Zillow's Listing Access Standards, introduced last year, aim to ensure that listings are visible to all consumers, while Compass has been accused of attempting to push alternative models that are seen as competitive. This debate has sparked upheaval across the industry, with multiple MLSs revisiting their guidelines in response to these market shifts.The Implications for ConsumersZillow's lawsuit argues that withholding access to listings would harm not only the company but also consumers who rely on its platform to make informed decisions in the housing market. It's clear that the tension between brokerages and listing services like MRED has implications that reach far beyond real estate platforms and directly impact how consumers buy and sell homes.If Zillow loses access to the substantial listing data from Chicago, it risks losing a significant competitive edge in the third-largest real estate market in the United States. As stated in their lawsuit, Zillow stresses that this potential disruption could lead to decreased viewership and impaired products dependent on the broad sharing of listings.Trading Lawsuits in the Competitive LandscapeThis situation highlights a larger trend in the real estate market, where digital services and traditional brokerages are engaged in an escalating battle for dominance. Zillow's struggle against MRED and Compass is emblematic of a shifting landscape where the definitions of competition and consumer choice are being constantly re-evaluated.A Call for TransparencyZillow is emphasizing its commitment to pro-consumer practices amid claims from its competitors. They argue that the quest for transparency is essential in not just maintaining their platform but also ensuring that consumers can access the full range of listings available in the market.As the legal proceedings unfold, real estate consumers, professionals, and industry watchers will be closely following the outcome of Zillow's case against MRED and Compass. The implications of this lawsuit could resonate throughout the real estate industry, altering how listings are shared and what buyers and sellers can expect from their agents and platforms.

Terms of Service

Privacy Policy

Core Modal Title

Sorry, no results found

You Might Find These Articles Interesting

T
Please Check Your Email
We Will Be Following Up Shortly
*
*
*