The Key to Reducing Post-Refi Boom Borrower Churn

In this webinar, PRMG Chief Lending Officer Kevin Peranio will help attendees sort through the right technologies as he shares the tech investments that have had the biggest impact on his business.

RealTrending: eXp’s Glenn Sanford reveals what’s next for company

CEO of eXp World holdings addresses his critics about his agent referral program, where he is taking the company next and growth limiters for the brokerage.

Navigating Closing Struggles in 2021’s Purchase Market

Join this webinar to discover the most current information on hybrid and full eNote eClosings and discuss key criteria to successfully implementing your eClosing strategy.

Mortgage servicers take steps to support borrowers amid COVID

Call volumes have spiked to a level not seen since last April, lenders and servicers need to prepare for a significant increase in their workload as they help borrowers through difficult times.

FintechIPO / M&A

Ex-Zillow execs raise $40M in seed round for mysterious digital mortgage startup

Tomo Networks’ round was led by Ribbit Capital, NFX and Zigg Capital

Tomo Networks, a Connecticut-based digital mortgage startup, just picked up $40 million in a seed round as it mobilizes to build a compelling product in an increasingly crowded market

Founded by ex-Zillow executives Carey Armstrong and Greg Schwartz, Tomo says it will offer a platform to streamline home buying for both the consumer and their real estate agent. 

That’s about all the company would say; Tomo’s press release didn’t elaborate on its business model or the tech stack aside from the usual talking points: the current process is too analog, time-consuming and stressful; there hasn’t been meaningful disruption, etc.

The seed round investors from Ribbit Capital, NFX and Zigg Capital, though, have experience with real estate startups (NFX’s GP Pete Flint founded Trulia) and no doubt have faith in the founders. Individual investors also include hedge funders Alex Sacerdote, Kurt Mobley & Eli Weinberg; former Zillow CEO Spencer Rascoff; and Ted Ackerley of Seattle-based Ackerley Partners LLC.

In a press release, Tomo said it was hiring across the country, with teams centered around Austin, Seattle and Stamford, Connecticut. 


How a pragmatic approach to eClosings helps lenders succeed during COVID-19 and beyond

An eClosing strategy that succeeds in any environment is built on two key concepts. Find out what those are here.

Presented by: Snapdocs

The pandemic has dramatically increased the adoption of digital mortgage tools. Large banks, well-capitalized IMBs and scores of startups have dedicated significant resources to integrating notarization, e-signings, and digital document processing. 

Ellie Mae, one of the market leaders in the space, in September was acquired by Intercontinental Exchange in an $11 billion deal. The move was merely part of ICE’s larger play in the growing mortgage tech space. 

Over the last few years, ICE has also acquired MERSCORP Holdings, the owner of Mortgage Electronic Registration System, and e-recording and collaboration services firm Simplifile

Blend, a digital mortgage startup founded in 2012, reached unicorn status this year with its $75 million Series F raise, which valued it at $1.7 billion.

And Rocket Companies, the largest mortgage lender in America, has rolled out several digital mortgage tools – including Rocket Pro Insight – aimed at consumers and real estate agents.

Leave a comment

Most Popular Articles

Millions will enter housing market in 2021: Zillow

Up to 2.5 million households could enter the housing market in 2021, per Zillow. The buyers will descend on the “secondary cities” across the U.S.

Apr 07, 2021 By

Latest Articles

Ginnie Mae loans lead drop in forbearance to 4.66%

April started off strong for servicers’ forbearance portfolios as the total number of loans in forbearance fell a whopping 24 basis points, the MBA said.

Apr 12, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please