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" or “we” or “us” or “our”). Tomo is a wholly-owned subsidiary of Tomo Networks, Inc. These Terms of Service include the Tomo 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 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, Tomo Networks, Inc. or are licensed by Tomo or Tomo Networks, Inc. for use on the Site. Tomo, the Tomo logos and other Tomo trademarks, service marks, graphics, and logos used in connection with Tomo are trademarks or registered trademarks of Tomo Networks, Inc. or Tomo in the U.S. and/or other countries. Tomo Networks, Inc. and Tomo 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 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 reserves 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 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 Tomo 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 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, 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 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, 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 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 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 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, 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, 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 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 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. 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 may be found, and that you will accept service of process from the person who notified Tomo 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

Modified March 21, 2024

Tomo’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’s Appraisal Coverage is subject to the following terms and conditions:

• Loan Type and Requirements. Tomo’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-certified real estate agent;
  • Receive a valid pre-approval from Tomo 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 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 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.

On or before April 19, 2024, Tomo will match another lender’s “Offer" subject to the following terms and conditions. Tomo does not offer Price Match after April 19, 2024.

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

• Competing Loan Estimate. To qualify for Tomo Price Match, the home buyer must provide a Loan Estimate to Tomo on or before April 19, 2024, 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.

• Jumbo Loans. For jumbo loans, Tomo does not match interest rates below 7.125% on 30-year fixed rate loans, 6.75% on 15-year fixed rate loans, and 6.875% on adjustable rate mortgages.

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

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

• Combinable. Home buyers can combine Price Match with Friends of Tomo, Tomo Perks, and any other promotional offer.

• Eligible Property. The home must qualify as home buyer's primary residence after closing. Investment properties and second homes are not eligible for the Tomo Price Match.

• Modification. Tomo may modify the terms of the Tomo Price Match program, but when it does so the terms will be modified only for home buyers who applied for a mortgage from Tomo after the date on which the program terms were modified.

With Tomo’s Lock & Shop, homebuyers with an underwritten preapproval for a conventional loan from Tomo can lock their interest rate for 90 or 120 days while they’re still looking for a home, subject to the following terms and conditions:

• Homebuyers must be represented by an agent to lock their rate.
• Tomo must receive a $450 deposit and the signed Rate Lock Disclosures by 6:00 pm Central Time on the first business day after locking the rate. The $450 deposit will be applied as a general lender credit at closing or refunded if the homebuyer's loan application is denied by Tomo. Otherwise, the $450 deposit is nonrefundable.
• Tomo must receive a fully signed purchase contract at least 30 days before the rate lock expires.
• Lock and Shop has limited availability.
• Jumbo, nonQM, and community land trust loans are ineligible.
• Home buyers can combine Lock and Shop with Tomo Perks and Friends of Tomo. Lock and Shop cannot be combined with Price Match.
• Tomo may modify the terms of Lock and Shop but the modified terms will only apply to homebuyers who lock their rate after the date the program terms were modified.
• Once under contract to purchase a home, homebuyers can float down their interest rate one time during the rate lock period if lower interest rates become available, the new interest rate is at least .125% lower than the locked rate and the lock expiration date does not change.

With Tomo Perks, home buyers will receive a $750 lender credit at closing if they close their loan with Tomo and a Tomo Brokerage Partner Agent, subject to the following terms and conditions:

• Tomo Brokerage Partner Agent. The home buyer 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 home buyer to the Partner Agent.

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

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

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

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

• Home Buyers Referred on or Before June 23, 2022. Home buyers 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 home buyers that qualify for Tomo Perks receive a $750 lender credit at closing.

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

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

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

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

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

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

• Preapproved. Customers must receive a valid underwritten pre-approval from Tomo for a conventional loan on or before February 15, 2022, and Tomo 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 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 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 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. 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’s Closing Guarantee.

  • Clean Title. Tomo 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 at closing.

  • Satisfactory Inspection. At least 10 calendar days before closing, the customer must provide Tomo with an inspection report reasonably satisfactory to Tomo (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 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 must receive all required HOA documentation at least 5 business days before closing.

• Response Time. Tomo must receive information it requests from the customer within 3 calendar days of Tomo’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’s Closing Guarantee is voided by unreasonable seller delays or either party’s breach of the purchase contract.

• Force Majeure. Tomo’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 may modify the terms of the Tomo 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.