Mosaic Surpasses $7 Billion in Loans Funded for Residential Solar and Sustainable Home Improvements
Announces Greatest Solar Bank loan Securitization to Date at $382.7 Million and Expands Executive Team with Two New Hires
OAKLAND, Calif., April 21, 2022 /PRNewswire/ — Mosaic, a foremost funding platform for U.S. household photo voltaic and energy-successful dwelling enhancements, currently introduced it has surpassed $7 billion in loans funded via the firm’s system. This milestone alerts a solid very first quarter for the mission-driven corporation, which also accomplished its highest month-to-month loan volume to date in March.
“You can find a increasing importance of clean up renewable electricity as an economic motor, a local climate essential, and a matter of national stability,” reported Billy Parish, founder and CEO of Mosaic. “The urgency to deliver economical financing alternatives for our partners and home owners is increasing, and Mosaic is uniquely positioned to help lead this cost.”
The $7 billion milestone was passed in mid-March and was fueled by the company’s powerful marketplace associations, operational capabilities and various money associates. Mosaic also not long ago finished a $382.7 million securitization. This was Mosaic’s largest securitization to day and provided the addition of Fitch Scores, rating the senior (AA-) tranche of the transaction. Mosaic has now done 12 securitizations more than the course of six yrs, which is far more than any other photo voltaic personal loan issuer in the area. On top of that, Mosaic carries on to create new forward move and direct origination partnerships with banking companies, credit history unions, coverage providers and asset supervisors to more fortify its diversified funding product.
Mosaic Expands Executive Bench
As Mosaic carries on to knowledge quick development, the corporation has added two new leaders to its team. Kim McNealy has joined as standard manager of property enhancement and experiences to Patrick Moore, president and chief operating officer. And Noura Panaritis has joined as senior vice president of organization purposes and reports to Nagaraju Bandaru, chief technological innovation officer.
McNealy oversees the house advancement small business functions at Mosaic, developing, deploying and preserving remarkably competitive items and providers in the course of the residence enhancement ecosystem, from OEMs, distributors and SaaS platforms, to installers and income corporations. He has additional than two decades of working experience in organization development and customer experience strategy targeted on superior-progress, know-how-primarily based businesses.
As the SVP of enterprise applications for Mosaic, Panaritis serves as the know-how small business associate for the product sales, advertising, finance, operations and men and women functions departments. She delivers a demonstrated monitor record in go-to-market, finance and operations technologies options to Mosaic and most a short while ago labored at LightSpeed Commerce and J.D. Power.
“We are honored to have Kim McNealy and Noura Panaritis be a part of our crew,” stated Moore. “Their one of a kind and persuasive experience, coupled with their enthusiasm for progress, make us pretty thrilled for the effect they will have on advancing our mission.”
About Mosaic
Mosaic tends to make funding photo voltaic, photo voltaic moreover strength storage methods and other sustainable household enhancements accessible and reasonably priced for householders by supplying a rapidly and uncomplicated way to implement for financing solutions. Consumers learn about Mosaic via authorized photo voltaic installers and household enhancement contractors, as properly as other ecosystem companions, and can get a credit determination in minutes for no money down loans with preset fascination prices and various term options. Funding used for and processed by the Mosaic system is originated by Solar Mosaic LLC or a person of its lending/funding associates. For our network of thousands of photo voltaic installers and home advancement contractors, Mosaic gives a streamlined funding system to push product sales advancement. Considering that 2012, Mosaic has aided extra than 220,000 households change to sustainable house advancements with its financing products and solutions.
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Source Mosaic