Mosaic Surpasses $4 Billion in Loan Funding for Residential Photo voltaic and Household Improvement Funding

OAKLAND, Calif., Feb. 4, 2021 /PRNewswire/ — Mosaic, the foremost funding platform for U.S. residential

OAKLAND, Calif., Feb. 4, 2021 /PRNewswire/ — Mosaic, the foremost funding platform for U.S. residential photo voltaic and vitality-productive house advancement assignments, nowadays declared it has surpassed $4 billion in financial loans funded via the company’s system. Mosaic proceeds to accelerate its place in solar and vitality with enhancements to its industry-to start with PowerSwitch ZERO product or service and critical additions to its management staff.

The enterprise has now extra new attributes to its PowerSwitch ZERO solar funding presenting — no payments for 18 months and a 25-yr financial loan time period.** The products also has the option of a 12-month, zero-payment advertising time period, and 10-, 15- or 20-year installment phrases with no prepayment penalty.

“No payments for 18 months and a reduce monthly payment will make it even simpler for house owners to transform to thoroughly clean energy,” mentioned Billy Parish, founder and CEO of Mosaic. “Mosaic was the initially to make 20-year and 25-12 months solar loans, the initial to make battery-only and photo voltaic roofing personal loan goods. We ended up the to start with to offer a no-payment solar loan possibility, and this is the future era of our ongoing innovation. We will proceed to anticipate current market requirements and structure new methods for our associates that help them to be agile and stay aggressive.”

“Last yr was an strange time, but solar loans have tested to be a powerful asset via this credit rating cycle, COVID and the financial problems the current market confronted in 2020,” reported Patrick Moore, president and COO of Mosaic. “We shut asset-backed securitizations of $222 million and $280 million in 2020, equally of which were being many instances oversubscribed. We now have a number of many years of historic knowledge, and the monetary markets acknowledge Mosaic’s consistent effectiveness and disciplined method to offering long-time period price. This has strengthened our romantic relationship with funds markets and minimized our price of money, which permits Mosaic to go together lessen charges to owners.”

In addition to a robust 2020, Mosaic also additional to its management crew past thirty day period. Tamiko Kikuchi joins as Vice President of Product, and John King is the new Vice President and Head of Approach and Corporate Development.

Kikuchi has additional than 10 years of expertise driving company and income advancement as a result of product or service system, course of action enhancement and staff management. Earlier, she served as vice president of merchandise and implementation at Renovate America, where she oversaw the company’s whole software package products portfolio and business-huge merchandise administration business.

King held leadership roles in the areas of finance and expenditure banking for far more than 15 yrs ahead of joining the photo voltaic sector. Most lately, he co-led capital marketplaces as Senior Vice President at LoanPal. Prior to that, he oversaw cash marketplaces and Treasury at Sunnova.

“We’re thrilled to start a new yr with the industry’s most adaptable finance offerings, new merchandise for our partners and their prospects and key additions to our management workforce,” claimed Parish. “We assume a lot more people to spend in vitality-productive upgrades for their houses in 2021, and Mosaic will continue to guide the current market in earning that probable.”

About Mosaic
Mosaic tends to make funding solar, photo voltaic additionally vitality storage units and other home enhancements available and economical for home owners by supplying the simplest borrower expertise in the sector. Clients are referred by authorised photo voltaic installers and household improvement contractors and can qualify instantaneously for no cash down loans with set fascination costs and many phrase alternatives. For our community of hundreds of solar installers and dwelling advancement contractors, Mosaic presents a streamlined financing platform to push profits advancement. Because 2012, Mosaic has served more than 125,000 homes go solar with its financing items. For extra information and facts, go to: www.joinmosaic.com.

All PowerSwitch Zero Loans and House Improvement Loans by means of the Mosaic system are created by WebBank, Member FDIC, Equal Housing Lender.

* No payments for 12 or 18 months – fascination will be billed from the start of mortgage if the principal stability is not paid in entire within the deferred curiosity period of time.

** 25 12 months POWERSWITCH ZERO Mortgage Repayment Illustration:
— A 25 calendar year, mounted-charge, $30,000 PowerSwitch ZERO mortgage with a 2.99{5242d1507341b65e72a67dfe6f17392a02243b6f5cad01f035ffe77ce94154f4} APR and an 18-month promotional period of time, would have 300 month-to-month payments of $148.50, commencing immediately after the conclude of the marketing period of time.
— Once-a-year Percentage Rate (APR) in the example involves a .25{5242d1507341b65e72a67dfe6f17392a02243b6f5cad01f035ffe77ce94154f4} fascination price reduction for debtors who sign up for computerized payments. Desire Charge and every month payments will enhance if borrower changes payment approach.

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