Tomo Mortgage Reviews 

Fortunately, I just closed my loan today, which is 3 days after it was supposed to close. I have many issues. While PJ, my loan officer, was helpful and did what he could, the loan processor, Victoria Militano was extremely unhelpful and non responsive. Below is the major issue I had, in addition to minor issues of unresponsive to emails through entire process (I had asked questions weeks before close that were not answered until they were problems for the originator the expected day of close).

The major problem, however, was with the propane tank. living in a rural area, it is normal to cancel the seller's lease for a propane tank and then either get a new lease or buy a tank outright. I had asked if there were anything needed, particularly with the propane, and had no response, so I decided to buy a tank 2 days after close (you shouldn't invest anything prior to close). However, on the day of close I was sent an emergency email asking about propane and if it was going to be extended. I told them my plan, and after a long wait (after business day was closed) I was told that I needed to either extend the lease with existing company or already have the tank installed. I asked them to double check with origination as I explained my case and situation. The expected day of close passed.

THEN, close had passed, the seller was getting nervous about the failed loan, and I was told in the morning that I would hear shortly the resolution. The end of the day came, and I had heard nothing so I frantically spent 4 hours calling various contacts I had at Tomo trying to figure out what happened. After finally getting my loan officer to respond, he was semi-helpful, but was unable to provide real guidance.

My new propane tank was scheduled to be installed, the loan had not closed, and I had not received a clear instruction on how to proceed. Luckily, after many calls, I received the information I needed and I made a risky decision to keep and pay for the install ofa new propane tank before close to satisfy the loan originators.

Afterwards, I had to continually follow-up with the Tomo team and Victoria made several more minor mistakes which demonstrate a lack of detail. They were
1. stating that I needed an inspector after install when I was told I did not
2. stating that my signing appointment was on friday when it was in fact on thursday
3. continuing to be unresponsive and failing to reach out to provide assurance that the appropriate steps were taken.

Very poor loan experience, I have worked with 3 different mortgages and this was by far the worst, if you have anything other than a straight forward urban or suburban purchase, i would avoid Tomo. May be a great rate, but could be an even greater headache.

Absolutely horrible and incompetent! I was asked over and over for information I had given several times that I had explained from the start of the preapproval process. Long story short, Tomo preapproved me even when I told the rep to pay close attention to my 1099 status as I knew it was a long shot. Rep preapproves me and reassures me that I am okay to move forward, I put in an accepted offer, spend thousands towards trying to close (inspections, earnest,etc.). This rep takes two weeks going back and forth to the underwriter, each time telling me we are good to go, only to come back asking for the same clarification he asked for from preapproval on. It did not matter if I spoke directly to him or wrote it out in a very clear email, he seemed to "forget" every time what I had told him. It became very clear that he had no idea what he was doing on top of not actually reviewing the information I gave him. I am a single Mom and currently at risk of losing $5000+ on top of trying to find a place to live last minute if I cannot find another solution. They should not be allowed to do this to people. I would have happily accepted that I could not be preapproved and walked away. The time he took going back and forth only to give me the answer he did surrounding my 1099 status has greatly affected my family's life. I was very clear up front and trusted him to do his job and he was not capable.

If it was possible to give a zero I would. My closing is now four days late and has not occured again today.
The loan processor says there’s something new that the underwriter needs. She waits until approximately three or 4 PM that day to request it. Then the next day it seems like something else comes up. I have never witnessed such a level of incompetence.
Once your loan officer, as you signed up, he simply passes you onto the next person and has no interest in how things continue to go or if your processor gets things done. He even told us that they ask their loan officers to sign people up and then pass them on. No one cares about the complete experience. I have a penalty written into my contract that every day we don’t close, I owe the seller money. At this point, we’ve also gone over a weekend so I’m up to owing the seller $500 even though I turned in absolutely everything I was ever asked to turn in a week prior to closing.
I am so disappointed in this experience and will never ever allow anyone that I know to use Tomo.

Loan officer is awesome - Application advisor Elliot Lozano not so much ... Doesn't respond to email, text messages, or voicemails ... Doug is my loan officer he tried also to get him to respond but nothing cricketts. Trying to find information on closing early on my house schedule for 31 July would like to close 28 July but cant get him to advise .... I am at a loss. My name is Donald Hammond and have a conditional approval with all documents submitted but can't get Elliot to communicate .... Love Doug Sunken ... Elliot not responsive .....

My experience with Tomo Mortgage has been far below expectations. I am constantly having to email and call for attention on my application. They use AI heavily for automated email responses, and it frequently confuses the whole situation and provides wrong information.

I received a conditional approval on 6/24, and submitted the requested documents within an hour. Only on 07/08, after multiple emails and calls, did my Application Advisor Stacey ask for more documents. We are now 4 business days away from closing, and I'm worried we'll have to push the date.

If you decide to work with Tomo, be proactive and constantly ask for updates on your application. Don't let a week go by with no updates. Otherwise it will likely fall behind and you may miss your closing date.

For a company that boasts itself be customer centered, I find it to be a complete joke. It is staffed by incompetent unqualified individuals who may have passed some state licensing exam, but don't have a clue as to how the real world works. Based on the multiple recommendations from companies I trust I submitted an application for a small mortgage loan. I got assigned to a mortgage advisor who doesn't know how to read a tax return. I will admit that my return is a lot more complicated than average because I'm self employed and have been for over 30 years. So when I asked to speak with someone else or to have the tax returned submitted to someone who understood all the schedules and misc forms, he refused. This employee rendered the whole company useless and incompetent. What a total embarrassment. I suggest you avoid this company. If this is the level of their most important front line I can't image the difficulties and absurdities that would follow.

I applied for a mortgage with Tomo on March 8th. My closing date is July 15th and I still don't have my final approval. My initial process with Forozan was smooth and I enjoyed working with her. The problems started when I was assigned to an Application Advisor, Elliot.
Elliot wouldn't respond to emails and a phone call for over a week so yesterday I called and complained that he was unreachable and not answering my questions. I was told his supervisors would be notified and I would hear back from someone. At around 5 PM last night I got an email from Elliot stating he had been busy and asking me for more documents, many of which had already been submitted. I uploaded them all again this morning.
I want to give Tomo the opportunity to address this before I write a final review. I am hoping to be one of the people who is thrilled with Tomo. NOT one of the people who finds out at the last minute they can't get the mortgage and lose the house they are trying to purchase. I had been pre-approved with Better Mortgage at the same time as Tomo but went with Tomo because I had committed to them first. I hope that wasn't a mistake. I will update my review as the process continues.

Stay away. I have closed on dozens of properties and I have never been so frustrated. All the poor reviews are very much true! They don't communicate well at all! They actually blamed us for the delays which were caused by them. They notified the listing broker and closing agents about not closing and still as I write this they have not told us the buyers. They waited until a week before closing to ask for any additional docs and they needed 15 of them. 12 they had in their portal but couldn't find them. We were able to supply all docs with 12 hours of them asking and they still couldn't get to closing timely.

What an absolute horrific experience! Avoid Tomo or jeopardize losing the house you went into contract with in a low inventory, seller advantage market. Was working w many lenders to find most competitive offer. Realtor reached out to Tomo asking how fast can we close and would they work w seller realtor if necessary. Tomo -Very lackluster slow response time compared to other lenders. Other lenders said here's my cell, call whenever, happy to do whatever to get bid accepted. Tomo, said can close quickly. Hard stop. Serious lack of sense of urgency and enthusiasm. Fast forward, my bid accepted. Now working to get best overall formal loan package. Work began at 730A. Responses are quickly coming in from loan officers, loan officers (hours behind) my time zone. While crickets from Tomo in same time zone. Day ends and NEVER heard from Tomo. EOD, Tomo calls to say all of a sudden despite days previous of email exchanges, this day all my emails went to spam. I was chastised and belittled for not calling loan officer directly. One, I need written documentation and proof of offers in writing, verbals wouldn't suffice. Two, if the customer prefers emails to calls, that's the prerogative of the client. Instead of transferring my file to a different loan officer (as I requested), I was told by officer my file is canceled and he hung up on me. All the while, Tomo is being informed of the non-responsiveness of loan officer --all day and his cancel of my file and hanging up on me. I was told his manager would call me. Then I was told my situation escalated to 4 separate managers NOT one of them called me-- EVER! Thank God, I was working with many different lenders, Tomo lost out securing me, someone with the highest creditworthiness and the lowest risk of default. Such an unforced error from Tomo. Saying hold trues when someone (Tomo) shows you who they are, believe them the first time.

Chad Pounders my Loan Advisor was absolutely incredible ! Got us a great rate ! No buying down points necessary! Easy to communicate with any time day or night ! Fast and easy process start to finish ! I can’t recommend them enough !

Tomo helped make the mortgage process feel clear and manageable. Their team was responsive, professional, and straightforward, and I appreciated that they kept things moving without making the process feel overwhelming. We really like their portal which tracks the process and immediately emails all updates and sends a text; very reassuring when you are panicking!

They were especially helpful in explaining the steps, answering questions, and making sure we understood what was needed along the way. I felt supported during a major life decision, and that made a real difference. I would definitely recommend Tomo Mortgage to anyone looking for a smooth, transparent, and positive mortgage experience. Special Thanks to Stacey F. For her communication and transparency.

Irena Liu and the team made this a somewhat easy process. It’s never an easy process, but they added some ease. They were quick to respond and answered all our 2930303 questions. We did shop around a bit, and Tomo provided the best rates, and closing was on time and overall a smooth experience. I would recommend.

My clients missed out on a home because their lender PJ Nemish didn’t answer his phone for over 30 hours. The , we get under contract with a different home, and PJ doesn’t answer any emails leaving questions unanswered. He then last minute told my client he needs 5% down instead of 3%. This place is mind boggling that it’s not some type of scam. That’s what it feels like to me.

Said they could do it, asked for a mountain of documentation, and two days before closing, they said they could not do it. At one point, the advisor said 'don't worry if you don't hear from us for a while, we are working behind the scenes', and then they dropped a bomb just before the agreed upon closing date. I was able to get it done by someone else, but TOMO really screwed me waiting until the last moment.

My experience with Tomo and most importantly Irena Liu has been great. I was a first time home buyer, determined to get the best possible rate and lender fees. I reached out to Tomo at first, and Irena contacted me immediately and provided what ended up being "by far" the best loan terms - it took me about 2 weeks ot convince myself after contacting many other lenders and brokers. I was a little hesitant to work with what seemed to be a big lender, where everything was online and by phone vs for example a local bank or a broker where things were done in person, but I was very wrong. Things moved super fast and we closed in 20 days (we could have done it even in 15, but my work travels delayed me). I always felt that Irena and her team had my best interest in mind. She heard my concerns, fears, reasoning, RE plans, financials, etc and she was available at any time from early morning to late evenings. Highly recommend Tomo and Irena Liu!

Lowest rate I found, I shopped around at a few different ones. but also they had the best response time when I needed last minute changes to the pre-approval letter for example. Found a house I was willing to increase my offer on, and it was Saturday, Tomo got back to me same day in time to put the offer in that day. That was the house I bought and offer was accepted same day. Website was clear and easy to navigate what we needed to do. There was always someone I could reach out to for more information.

Back in the day when you got a conditional approval letter, all you had to do was satisfy every condition and you got the green light to go. I did all this and then 3 days before scheduled to close they said I needed to pay off a 6 year credit card debt (due to covid and losing my job). This could have been included in the conditional approval but was not. I lost $1500 in earnest money and inspection fee because of their lack of disclosure.

Unbeatable Value: Tomo delivered the most competitive rates in the market—significantly lower than the big banks—and the zero lender fee structure saved me thousands on my purchase.

Reliability You Can Trust: In a volatile market, Tomo proved to be a rock-solid partner; their transparency and "No-BS" approach made me feel completely confident in my financing.

Precision Closing: Their process is a well-oiled machine that guarantees a timely closing, ensuring every deadline was met with room to spare and zero last-minute stress.

Expert Communication: I was never left guessing thanks to their proactive updates; the team’s communication was clear, consistent, and professional at every single milestone.

Seamless Digital Experience: The entire mortgage journey was incredibly smooth, combining a user-friendly tech platform with a high-touch service team that handled my purchase with total care.

Their rate is attractive transparent no other fees. I had a competing rate offer 2.5 weeks before closing, TOMO provided a generous counter offer to keep me with them. Ready to closing time is within 3 weeks.

The 2 people I spoke with on the phone refused to give me a loan interest rate until I filled out their online form and uploading just income verification, which I did promising only a soft pull on my credit, and I would have my loan rate within an hour. I spent a lot of time gathering and submitting the information which was complete. Then some sleezy salesman kept fishing for more information that was not necessary unless I was actually applying for the loan. He alteady got my income documents, then wanted, w-2 information, bank statements, chrck stubs, etc... he never gave me their loan rates. Total identity theft! Do not use this company they are fraudsters trying to steal your identity. They lie about what they need, then just ask for more information in order to steal your identity. I am calli m g the police and filing a complaint.