A former Zillow VP and co-founder of Tomo Networks has secured funding to develop an AI assistant for real estate agents.

Tomo Mortgage aims to hold the mortgage industry accountable for inflated rates, hidden fees and misleading pricing that will cost U.S. homebuyers $11 billion in 2025 NEW YORK, May 1, 2025 /PRNewswire/ -- Tomo Mortgage, the fast-growing AI-powered digital mortgage lender, today announced the launch of TrueRate, a free tool that gives U.S. homebuyers a full and honest view into what hundreds of lenders are actually charging people just like them. Deceptive marketing practices and misleading prices are expected to cost American homebuyers $11 billion in 2025 — and TrueRate aims to put a stop to it. It uses data from hundreds of thousands of real home loans from over 1,000 lenders to answer a question that every homebuyer struggles with, but until now has been impossible to answer: What's a good rate for me, right now, and where can I get it? Tomo Mortgage Launches TrueRate – A Free AI-based Tool to Help Homebuyers Avoid Being 'Ripped Off' by Mortgage Lenders "Everyone knows how challenging the current homebuying market is, but what many don't know is that many lenders are making it worse with bait-and-switch sales tactics and misleading fees," says Greg Schwartz, CEO and Co-Founder of Tomo. "The mortgage industry thrives on this type of 'confusion capitalism,' where homebuyers have no way to know what's fair and what's a ripoff, and end up having to take a lender's word for it