The biggest mortgage, lending and housing finance stories of 2022
The industry dodged a meltdown, but skyrocketing mortgage rates fueled a rush to 'right size' and helped crown a new leader in mortgage lending
by Matt Carter Dec 28
Real estate in 2022: When the #@!$ finally hit the fan
Soaring mortgage rates, slagging sales, thousands and thousands of layoffs: The past 12 months have offered a jarring reminder that what goes up must come down
by Jim Dalrymple II Dec 19
Tomo enters 5 new states, launches real-time preapproval process
After laying off workers in May, Tomo is in expansion mode again with launches in Maryland, New Jersey, Oregon, Pennsylvania, Virginia and Washington D.C.
by Matt Carter Dec 1
Mortgage is the new money pit for portals: Mike DelPrete
Billions of dollars have been invested to disrupt the mortgage process — which is the path to profitability for many real estate tech companies
by Mike DelPrete Oct 3
Tomo is launching an appraisal coverage guarantee for homebuyers
Eligible borrowers will be able to close on a winning bid with the same cash to close, monthly payment and interest rate — even if the appraisal comes in low
by Matt Carter Aug 24
Tomo's new Lock and Shop: lock a rate now without a property address
Tomo's Lock and Shop service fee is $750, which homebuyers can recoup when they work with Tomo Brokerage partner agents. Homebuyers can choose either a 90- or 120-day rate lock
by Matt Carter Jun 23
Proptech investor Paul Hurst sees a ton of opportunity in market shift
The problems that proptechs are trying to solve — inefficiencies in real estate transactions — remain, said Parker89 Managing Director Paul Hurst, while speaking at Connect Now Thursday
by Matt Carter Jun 23
The best and worst ways to handle layoffs as real estate cuts accelerate
The housing industry has shed thousands of jobs recently, and more cuts may be in store. But some companies are handling the situation better than others
by Jim Dalrymple II Jun 17
A full list of real estate companies making layoffs in 2022 and 2023
While real estate industry layoffs largely began with companies that provide mortgages and mortgage-related services, everyone from Adwerx to Zumper has been impacted by the downturn
by Matt Carter Jun 3
Tomo cuts almost 1/3 of workforce, dials back expansion plans
Cuts were from the impact of the recent shift in the mortgage and venture capital markets due to the rapid increase in interest rates, according to Tomo CEO and Co-Founder Greg Schwartz
by Matt Carter May 31
Tomo provides mortgages in 9 states, adds Georgia, North Carolina
Fintech focused on purchase mortgages planning to add more markets and more mortgage products later this year, now doing business in more than 1/3 of U.S. markets
by Matt Carter May 17
Morty now providing jumbo mortgages up to $3M in 44 states
Online mortgage marketplace focused on homebuyers has doubled its headcount over the last year to 70, as it continues to pursue a goal of serving homebuyers nationwide
by Matt Carter May 11
Tomo's $40M Series A more than doubles its valuation to $640M
With the addition of Michigan and Ohio, the purchase mortgage fintech is now in 7 states
by Matt Carter Mar 21
Mortgage startup Tomo now in 5 states, adds jumbo loans
After launching in Washington and Texas, Tomo has expanded into Florida, Connecticut and Colorado
by Matt Carter Jan 26
Former Zillow, eXp executive joins consulting firm T3 Sixty
Mitch Robinson also previously worked at Expedia and Tomo. At T3 Sixty, he'll lead a new to-be-announced business unit
by Jim Dalrymple II Jan 18