Terms

Welcome to the Tomo Mortgage, LLC website. This website (the “Site”) and the loan services provided through the Site (collectively, the "Services") are owned and operated by Tomo Mortgage, LLC ("Tomo Mortgage" or “we” or “us” or “our”). Tomo Mortgage is a wholly-owned subsidiary of Tomo Networks, Inc. These Terms of Service include the Tomo Mortgage Privacy Policy and state the agreement (“Agreement”) between you and us regarding your use of the Services. This Agreement also provides important information to you, including information about your obligations about content and our limitation of liability to you. By accessing, downloading, or using any portion of the Services, you signify that you accept the terms of the Agreement. If you do not accept, then please do not use the Services.

1. Who Can Use the Tomo Mortgage Services

To use the Services, you must be at least 18 years old and a resident of the United States. If you are under the age of 13 years old, you should not be visiting this Site.

2. Intellectual Property Ownership and License

All materials (including source code, data, images, and other content) contained in the Services, including the selection and arrangement of the materials, are owned by Tomo Mortgage, Tomo Networks, Inc. or are licensed by Tomo Mortgage or Tomo Networks, Inc. for use on the Site. Tomo Mortgage, the Tomo Mortgage logos and other Tomo Mortgage trademarks, service marks, graphics, and logos used in connection with Tomo Mortgage are trademarks or registered trademarks of Tomo Networks, Inc. or Tomo Mortgage in the U.S. and/or other countries. Tomo Networks, Inc. and Tomo Mortgage also own trade secrets and know-how that contribute to the functionality of the Services. Except as enabled and directed on the Services, you may not modify, decompile, reproduce, redistribute, attempt to commercially gain from your use, or misuse, of the Services or any of their components. You may not use any meta-tags or other hidden text using the Tomo Networks, Inc. or Tomo Mortgage names or trademarks without our specific permission. We may revoke your permission to access and use the Services, and we may block or prevent you from accessing the Services, in our sole discretion without notice. If you violate the Terms of Use, your permission to access and use the Sites is automatically revoked. Except for the limited license granted above, Tomo Networks, Inc. and Tomo Mortgage reserve all of their intellectual property rights in the Services. This Agreement does not grant you any right or license with respect to any trademarks and logos.

3. Registration

You must register with Tomo Mortgage to apply for a loan. When you register with us you are agreeing to these Terms of Use. You agree to provide accurate, true, current, and complete information about you. The information you provide in connection with the Services will be protected as described in our Privacy Policy and Consumer Privacy Notice. You are responsible for all activities related to the Services that occur through your account and password. You agree to keep your password confidential, not use others' accounts, nor permit others to use your account. We reserve the right to terminate accounts in our sole discretion.

4. How We May Communicate with You

For purposes of responding to you and providing you with information and notices about your account or the Services, you agree that we may communicate with you through the contact information associated with your Tomo Mortgage account, including your email address, telephone number, or the postal address you provided. We have no liability rising from your failure to maintain accurate contact or other information, including, but not limited to, your failure to receive critical information about the Services. When you request information from us you are extending an express invitation for us to contact you.

5. Third Party Sites

We may include links to third party websites ("Third Party Sites") on the Site. You should review any applicable terms or privacy policy of a Third-Party Site before using it or sharing any information with it, because you may give the third-party permission to use your information in ways we would not. We are not responsible for and do not endorse any features, content, advertising, products or other materials on or available from Third Party Sites.

6. Indemnification

You agree to defend, indemnify, and hold harmless Tomo Mortgage, its affiliates, and their respective directors, officers, employees, and agents from and against all claims and expenses (including, but not limited to, reasonable attorneys' fees and costs) arising out of your violation of this Agreement or use or misuse of the Services or this Site.

7. Disclaimers

TOMO MORTGAGE PROVIDES THE SERVICES ON AN "AS IS" AND "AS AVAILABLE" BASIS. WE DO NOT PROVIDE ANY EXPRESS WARRANTIES OR REPRESENTATIONS. TO THE FULLEST EXTENT PERMISSIBLE UNDER APPLICABLE LAW, TOMO MORTGAGE, TOMO NETWORKS, INC., AND THEIR AGENTS, AFFILIATES AND REPRESENTATIVES DISCLAIM ANY AND ALL IMPLIED WARRANTIES AND REPRESENTATIONS, INCLUDING, WITHOUT LIMITATION, ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, ACCURACY OF DATA, AND NONINFRINGEMENT. EXCEPT AS SPECIFICALLY PROVIDED IN THIS AGREEMENT OR WHERE THE LAW REQUIRES A DIFFERENT STANDARD, YOU AGREE THAT NEITHER TOMO MORTGAGE NOR TOMO NETWORKS, INC. IS RESPONSIBLE FOR ANY LOSS, PROPERTY DAMAGE, OR BODILY INJURY, WHETHER CAUSED BY ACCESS TO OR USE OF THE SERVICES OR THE SITE. ANY MATERIAL, SERVICE, OR TECHNOLOGY DESCRIBED OR USED ON THE SITE MAY BE SUBJECT TO INTELLECTUAL PROPERTY RIGHTS OWNED BY THIRD PARTIES WHO HAVE LICENSED SUCH MATERIAL, SERVICE, OR TECHNOLOGY TO US. TOMO MORTGAGE DOES NOT GUARANTEE THAT THE SERVICES WILL FUNCTION WITHOUT INTERRUPTION OR ERRORS IN FUNCTIONING. THE OPERATION OF THE SERVICES MAY BE INTERRUPTED DUE TO MAINTENANCE, UPDATES, OR SYSTEM OR NETWORK FAILURES. WE DISCLAIM ALL LIABILITY FOR DAMAGES CAUSED BY ANY SUCH INTERRUPTION OR ERRORS IN FUNCTIONING. FURTHERMORE, TOMO MORTGAGE AND TOMO NETWORKS, INC. DISCLAIM ALL LIABILITY FOR ANY MALFUNCTIONING, IMPOSSIBILITY OF ACCESS, OR POOR USE CONDITIONS OF THE SITES DUE TO INAPPROPRIATE EQUIPMENT, DISTURBANCES RELATED TO INTERNET SERVICE PROVIDERS, TO THE SATURATION OF THE INTERNET NETWORK, AND FOR ANY OTHER REASON. SOME JURISDICTIONS DO NOT ALLOW THE DISCLAIMER OF IMPLIED TERMS IN CONTRACTS WITH CONSUMERS AND AS A RESULT THE CONTENTS OF THIS SECTION MAY NOT APPLY TO YOU.

8. Limitation of Liability

IN NO EVENT WILL TOMO MORTGAGE, TOMO NETWORKS, INC. OR ANY OF THEIR AGENTS, AFFILIATES OR REPRESENTATIVES BE LIABLE FOR ANY DAMAGES, INCLUDING WITHOUT LIMITATION ANY INDIRECT, CONSEQUENTIAL, SPECIAL, INCIDENTAL, OR PUNITIVE DAMAGES ARISING OUT OF, BASED ON, OR RESULTING FROM THESE TERMS OF USE OR YOUR USE OF THE SERVICES, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE EXCLUSION OF DAMAGES UNDER THIS PARAGRAPH IS INDEPENDENT OF YOUR EXCLUSIVE REMEDY SET FORTH BELOW AND SURVIVES IN THE EVENT SUCH REMEDY FAILS OF ITS ESSENTIAL PURPOSE OR IS OTHERWISE DEEMED UNENFORCEABLE. THESE LIMITATIONS AND EXCLUSIONS APPLY WITHOUT REGARD TO WHETHER THE DAMAGES ARISE FROM (A) BREACH OF CONTRACT, (B) BREACH OF WARRANTY, (C) NEGLIGENCE, OR (D) ANY OTHER CAUSE OF ACTION, TO THE EXTENT SUCH EXCLUSION AND LIMITATIONS ARE NOT PROHIBITED BY APPLICABLE LAW. IF YOU DO NOT AGREE WITH ANY PART OF THESE TERMS OF USE, OR YOU HAVE ANY DISPUTE OR CLAIM AGAINST TOMO MORTGAGE, TOMO NETWORKS, INC., THEIR AGENTS, AFFILIATES OR REPRESENTATIVES WITH RESPECT TO THESE TERMS OF USE OR THE SERVICES, THEN EXCEPT AS SPECIFICALLY PROVIDED IN THIS AGREEMENT OR WHERE THE LAW REQUIRES A DIFFERENT STANDARD, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USING THE SERVICES.

9. Additional Legal Terms

• A. Severability. If any provision of this Agreement is found by a court of competent jurisdiction or arbitrator to be illegal, void, or unenforceable, the unenforceable provision will be modified so as to render it enforceable and effective to the maximum extent possible in order to effect the intention of the provision.
• B. Entire Agreement. You agree that this Agreement constitutes the entire, complete and exclusive agreement between you and us regarding the Services and supersedes all prior agreements and understandings, whether written or oral, or whether established by custom, practice, policy or precedent, with respect to the subject matter of this Agreement; provided that the Loan Services will also be subject to the terms and conditions of any documents and disclosures provided in connection with the Loan Services (the “Loan Services Documents”) and in the event of any conflict, the Loan Services Documents will control. You also may be subject to additional terms and conditions that may apply when you use or purchase certain other Tomo Mortgage services.
• C. Amendments to this Agreement. We reserve the right to modify, supplement, or replace the terms of this Agreement at any time, effective prospectively upon posting at tomo.com or notifying you otherwise. For example, we may present a notification on the Services when we have materially amended this Agreement or the Privacy Policy so that you may access and review the changes prior to your continued use of the Services. If you find the Agreement unacceptable at any time, you can discontinue your use of the Site and the Services. The most current version of this Agreement will always be available to you by clicking the link at the bottom of the Site.
• D. No Waiver. Our failure to act with respect to a breach of this Agreement by you or others does not waive our right to act with respect to that breach or subsequent similar or other breaches.
• E. No Injunctive Relief. In no event shall you seek or be entitled to rescission, injunctive or other equitable relief, or to enjoin or restrain the operation of the Services.
• F. International Matters. Tomo Mortgage is controlled and operated from our United States offices in Stamford, Connecticut. The Services, including software from Tomo Networks, Inc., is further subject to United States export controls. No Services, including software from Tomo Networks, Inc., may be downloaded or otherwise exported or re-exported in violation of any applicable law, rule, or regulation.
• G. Complaint Regarding Copyright Infringement. If you are a copyright holder and believe your work has been used on the Site in a way that constitutes copyright infringement, please contact our Copyright Agent with the following information: (i) your name, address, phone number, and email address, so that we can reach you; (ii) identification of the copyrighted work(s) you believe to be infringed; (iii) identification of the material on the Sites you believe is infringing, including a location description (e.g., a URL); (iv) a statement, made under penalty of perjury, that you are the copyright owner or are authorized to act on the copyright owner's behalf, and that the information you provided is accurate; (v) a statement that you have a good-faith belief the disputed use is not authorized by the copyright owner, its agent, or the law; and (vi) a physical or electronic signature. Send your infringement notices to: Tomo Networks, Inc., Legal Department, 2200 Atlantic Street, 5th Floor, Stamford, CT 06902.

If you believe in good faith that a claim has been wrongly made against you, the Digital Millennium Copyright Act permits you to submit a counter-notification to Tomo Mortgage. Your counter-notification must be in writing and sent to our Copyright Agent, whose address is above. Your counter-notification must contain the following information: (i) your physical or electronic signature; (ii) identification of the material that has been removed or to which access has been disabled and the location at which the material appeared before it was removed or access to it was disabled; (iii) a statement under penalty of perjury that you have a good faith belief that the material was removed or disabled as a result of mistake or misidentification of the material to be removed or disabled; and (iv) your name, address, and telephone number, and a statement that you consent to the jurisdiction of Federal District Court for the judicial district in which you are located, or if you are outside of the United States, for any judicial district in which Tomo Mortgage may be found, and that you will accept service of process from the person who notified Tomo Mortgage of the alleged infringement or an agent of such person. We expect all users of any part of the Services to comply with applicable copyright laws.

10. Governing Law

You agree that this Agreement will be governed by and construed in accordance with the laws of the State of Connecticut, without giving effect to any principles of conflicts of law. Except as otherwise provided herein, You agree that any action at law or in equity arising out of or relating to these this Agreement or the use of this website shall be filed only in the state or federal courts located in New Haven or Fairfield Counties, Connecticut, and you hereby consent and submit to the personal jurisdiction of such courts for the purposes of litigating any such action.

11. Contact Us

If you have questions about this Agreement or the Site, please call us at (737) 510-2523. ANY RIGHTS NOT EXPRESSLY GRANTED HEREIN ARE RESERVED BY TOMO MORTGAGE

Tomo Mortgage’s Appraisal Coverage protects homebuyers from any adverse change to the homebuyer’s loan product, cash-to-close, APR and monthly payment due to the property’s appraisal value coming in lower than expected. Availability of Tomo Mortgage’s Appraisal Coverage is subject to the following terms and conditions:

• Loan Type and Requirements. Tomo Mortgage’s Appraisal Coverage only applies to conforming loans. Homebuyers are not eligible for Appraisal Coverage if their loan application(s) were previously declined by another lender or if they are using a renovation loan. In addition, in order to qualify for Appraisal Coverage, homebuyers must:

  • Be represented by a Tomo Mortgage-certified real estate agent;
  • Receive a valid pre-approval from Tomo Mortgage prior to making an offer on a home;
  • Make a down payment of at least 10% of the purchase price for a single-family home or 15% of the purchase price for a 2-4 unit multi-family property; and
  • Submit the property address and desired offer price to Tomo Mortgage for approval prior to submitting the offer to the seller or the listing agent.

• Change of Loan Terms.

  • Appraisal Coverage only guarantees that the sum of (1) the down payment amount, (2) the loan fees shown in Boxes A and B of the Loan Estimate, and (3) the lender credits shown in the Loan Estimate - will not increase due to the appraisal coming in lower than expected.
  • In addition, for the monthly payment amount, Appraisal Coverage only guarantees that the total of (1) principal, (2) interest, and (3) mortgage insurance amounts will not increase due to the appraisal coming in lower than expected. Taxes and hazard insurance are subject to change due to factors outside of the appraisal valuation.

• Property Limitations.

  • Appraisal Coverage only applies where homebuyers occupy the property as their primary residence.
  • Appraisal Coverage is not available for multi-family properties in excess of 4 units or properties being sold following foreclosure.
  • Appraisal Coverage does not apply if the property’s appraisal returns any health and safety issues, or if the property condition is rated by the appraiser as C5 or C6 under Fannie Mae’s property condition ratings, available here.
  • Appraisal Coverage only applies to “arm’s length” transactions in which the contracting parties are unrelated, unaffiliated and acting independently in their own interest.

• Modification. Tomo Mortgage may modify the terms of Appraisal Coverage but the modified terms will only apply to homebuyers who enter into a purchase contract after the date these terms were modified.

Tomo Mortgage will match another lender’s “Offer," subject to the following terms and conditions:

• Offer. The “Offer” that Tomo Mortgage will match is the combination of interest rate, lender credits associated with the interest rate, rate lock period, and charges in boxes A and B on page 2 of the Loan Estimate.

• Competing Loan Estimate. To qualify for Tomo Mortgage Price Match, the homebuyer must provide a valid, unaltered Loan Estimate, produced by a licensed mortgage lender to Tomo Mortgage during business hours that is less than one business day old from an identified lender that—except for the interest rate, lender credits associated with the interest rate, and origination charges—offers a conventional mortgage on identical terms to the Loan Estimate provided by Tomo Mortgage.

• Certain Lenders Exclude. Tomo Mortgage does not match offers from credit unions or other organizations with membership requirements.

• Jumbo Loans Excluded. Tomo Mortgage does not match interest rates on jumbo loans.

• Must Exercise Before Rate Lock. Homebuyers cannot exercise Price Match after they have locked their interest rate with Tomo Mortgage.

• Interest Rate Lock, Duration, and One-Time Use. When Tomo Mortgage matches the interest rate of another lender, the homebuyer must lock their interest rate with Tomo Mortgage on the same day. The Tomo Mortgage Price Match is valid for the duration of the rate lock period. Homebuyers may only exercise the Tomo Mortgage Price Match once per loan application.

• Loan Changes. If a homebuyer's loan terms change after the Tomo Mortgage Price Match has been exercised, the interest rate and Tomo Mortgage’s fees shown in page 2, box A of Tomo Mortgage’s Loan Estimate (after the Price Match has been applied) may change.

• Not Combinable. Homebuyers cannot combine Price Match with any other promotional offer.

• Modification. Tomo Mortgage may modify the terms of the Tomo Mortgage Price Match program at any time, but such modifications will not apply to homebuyers who have already exercised Price Match and locked their interest rate with Tomo Mortgage. Homebuyers are subject to the terms and conditions that were in effect when they exercised Price Match and locked their interest rate.

Tomo Mortgage no longer offers Lock and Shop.

Tomo Mortgage no longer offers Tomo Mortgage Perks as of July 9, 2024. With Tomo Mortgage Perks, home buyers will received a $750 lender credit at closing if they closed their loan with Tomo Mortgage and a Tomo Brokerage Partner Agent, subject to the following terms and conditions.

• Tomo Brokerage Partner Agent. The homebuyer must be party to a fully executed home purchase contract that identifies a Tomo Brokerage Partner Agent as their real estate agent, and Tomo Brokerage has a record of referring the homebuyer to the Partner Agent.

• Combinable. Homebuyers can combine Tomo Mortgage Perks with Friends of Tomo Mortgage, Tomo Mortgage Price Match, or any other promotional offer.

• Tomo Mortgage. The homebuyer must purchase the home referenced above using a mortgage loan from Tomo Mortgage.

• Rate Lock. The lender credit must be applied before the homebuyer locks their interest rate.

• Modification. Tomo Mortgage may modify the terms of Tomo Mortgage Perks, but when it does so they will be modified only for homebuyers who entered into purchase contracts after the date the program terms were modified.

• Homebuyers Referred on or Before June 23, 2022. Homebuyers that were referred by Tomo Brokerage to Tomo Brokerage Partner Agents on or before June 23, 2022, are eligible for an interest rate reduction of 0.125% in place of the $750 lender credit if they sign a fully executed purchase contract on or before August 31, 2022. All other homebuyers that qualify for Tomo Mortgage Perks receive a $750 lender credit at closing.

Homebuyers who provide Tomo Mortgage with a valid Friends of Tomo Mortgage referral link will receive a $750 lender credit at closing, subject to the following terms and conditions:

• Rate Lock. The homebuyer must provide the valid Friends of Tomo Mortgage referral link to Tomo Mortgage prior to locking their interest rate.

• Combinable. Homebuyers can combine Friends of Tomo Mortgage with Tomo Mortgage Perks, Tomo Mortgage Price Match, or any other promotional offer.

• Applied at Closing. The $750 lender credit will be applied at closing.

• Modification. Tomo Mortgage may modify the terms of Friends of Tomo Mortgage, but when it does so they will be modified only for homebuyers who entered into purchase contracts after the date these terms were modified.

For eligible customers, Tomo Mortgage guarantees that it will close their mortgage on time, every time. Eligibility for Tomo Mortgage’s “Closing Guarantee” depends on the following terms and conditions:

• Preapproved. Customers must receive a valid underwritten pre-approval from Tomo Mortgage for a conventional loan on or before February 15, 2022, and Tomo Mortgage guarantees that it will close the conventional loan described in that pre-approval letter within 30 calendar days of when the home purchase contract is fully executed. Tomo Mortgage does not provide its closing guarantee for jumbo loans or for underwritten pre-approvals dated February 16, 2022 or later.

  • The customer must have received the pre-approval letter on or before the day their home purchase contract is signed.

  • Information the customer submitted to Tomo Mortgage during the pre-approval process must be accurate and verifiable, and the customer’s income, assets and credit cannot materially change after pre-approval. A “material” change is one that impacts the customer’s ability to qualify for their pre-approved mortgage.

• Purchase Contract. Tomo Mortgage must receive the fully executed home purchase contract (and all addenda) within one calendar day of mutual acceptance by customer and seller.

• Final Loan Amount and Loan-to-Value. The customer’s loan amount and loan-to-value ratio at closing cannot exceed the customer’s pre-approved loan amount and loan-to-value ratio.

• The Property.

  • Eligible Property. The property must be eligible for a conventional mortgage from Tomo Mortgage. Short-sales, bank-owned properties, and properties under construction that do not have a certificate of occupancy at the time the purchase contract is fully executed are not eligible for Tomo Mortgage’s Closing Guarantee.

  • Clean Title. Tomo Mortgage must receive a title report 5 business days before closing confirming the seller is able to convey marketable title to the customer at closing subject only to minor title conditions. More information on what constitutes minor title conditions can be found here.

  • Appraisal. If the customer wants to close the loan before the appraisal has been completed, the customer must waive the right to receive an appraisal or other valuation before closing of the transaction after understanding and accepting the risks associated therewith. Customers providing this waiver will receive a copy of the appraisal and any other valuations used by Tomo Mortgage at closing.

  • Satisfactory Inspection. At least 10 calendar days before closing, the customer must provide Tomo Mortgage with an inspection report reasonably satisfactory to Tomo Mortgage (i.e., there are no safety concerns or items that materially affect the value of the property). The inspections must be completed by a licensed home inspector within 90 days of the scheduled closing date.

  • Homeowners’ Insurance. Tomo Mortgage must receive the customer’s homeowners insurance “binder” (i.e., proof of homeowners insurance) at least 10 calendar days before closing.

  • HOA. If the property is part of a homeowners’ association, Tomo Mortgage must receive all required HOA documentation at least 5 business days before closing.

• Response Time. Tomo Mortgage must receive information it requests from the customer within 3 calendar days of Tomo Mortgage’s request.

• Closing Day. Closing cannot occur on a Saturday, Sunday, or holiday on which financial institutions are closed.

• Customer’s Obligations. Customers must perform their obligations for closing, such as by making the down payment by closing.

• Seller Delays or Breach of Contract. Tomo Mortgage’s Closing Guarantee is voided by unreasonable seller delays or either party’s breach of the purchase contract.

• Force Majeure. Tomo Mortgage’s Closing Guarantee does not apply if closing is delayed due to force majeure events, such as natural disasters, terrorism, acts of God, or national emergencies.

• Modification. Tomo Mortgage may modify the terms of the Tomo Mortgage Closing Guarantee, but when it does so the terms will be modified only for customers who entered into purchase contracts after the date the program terms were modified.