Company helps greater than 1 million individuals prosper from clear energy
Completes $244 million solar mortgage securitization
OAKLAND, Calif., Sept. 15, 2022 /PRNewswire/ — Mosaic, a number one financing platform for U.S. residential solar and energy-efficient home enhancements, at this time introduced it has surpassed $9 billion in loans funded by way of its platform. The firm continues to see important progress — surpassing $8 billion in loans funded simply eight weeks in the past.
“The need for clean energy and sustainable home improvements has never been greater,” mentioned Billy Parish, founder and CEO of Mosaic. “Just last week, millions of people were under excessive heat warnings, which put pressure on electric grids in several states. Our partners and industry play a critical role in helping homeowners make their homes more energy efficient and resilient. There’s so much opportunity to not only prevent the worst impacts of climate change, but also support an adaptable and modern grid through the adoption of solar panels, battery storage and high-efficiency electrical appliances. And now, the Inflation Reduction Act will make it even easier for people to choose these options.”
Mosaic handed one other important milestone in September: Helping greater than 1 million individuals prosper from clear energy. By making financing reasonably priced and accessible, the corporate has helped greater than one million owners, contractor companions, gear suppliers, and Mosaic workers and their households.
“We started Mosaic to empower as many homeowners as possible to own their own clean energy,” mentioned Parish. “We know that the more people who benefit financially from transitioning to clean energy, the faster adoption will occur. Thank you to all of our customers, partners, investors and teammates who’ve made this possible — we’re just getting started!”
Mosaic Closes Second Solar Loan Securitization of 2022
The firm additionally just lately closed its thirteenth solar mortgage asset backed securitization, which is greater than every other solar mortgage issuer within the house. At $244 million, that is the second securitization Mosaic has closed within the 2022 calendar yr.
The Mosaic Solar Loans 2022-2 transaction (“Mosaic 2022-2”) priced on August 5, 2022, and consisted of 4 courses of notes rated by Kroll and Fitch Bond Rating Agencies from “AA-/AA-” to “BB-/BB” with weighted common lives starting from 2.86 to five.28 years. Deutsche Bank was the structuring agent and bookrunner for Mosaic 2022-2, BNP Paribas was the joint bookrunner with Royal Bank of Canada and Societe Generale as co-managers. The bonds are compliant with Green Bond rules, in line with Sustainalytics US, Inc.
Mosaic makes financing solar, solar plus energy storage techniques, and different sustainable home enhancements accessible and reasonably priced for owners by offering a quick and simple solution to apply for financing choices. Customers study Mosaic by way of permitted solar installers and home enchancment contractors, in addition to different ecosystem companions, and might get a credit score determination in minutes for no cash down loans with fastened rates of interest and a number of time period choices. Financing utilized for and processed by way of the Mosaic platform is originated by Solar Mosaic LLC or one among its lending/financing companions. For our community of 1000’s of solar installers and home enchancment contractors, Mosaic gives a streamlined financing platform to drive gross sales progress. Since 2012, Mosaic has helped greater than 275,000 households swap to sustainable home enhancements with its financing merchandise.