U.S. residential photo voltaic and energy-efficient residence enchancment financing company Mosaic this week introduced it has surpassed $four billion in loans funded by the corporate’s platform.
The firm has additionally added new options to its financing program together with no funds for 18-months and a 25-year time period mortgage, which it says will make it even simpler for householders to go photo voltaic.
“Last 12 months was an uncommon time, however photo voltaic loans have confirmed to be a robust asset by this credit score cycle, COVID and the financial challenges the market confronted in 2020,” mentioned Patrick Moore, president and COO of Mosaic. ” We closed asset-backed securitizations of $222 million and $280 million in 2020, each of which have been a number of instances oversubscribed. We now have a number of years of historic information, and the monetary markets acknowledge Mosaic’s constant efficiency and disciplined method to delivering long-term worth. This has strengthened our relationship with capital markets and decreased our value of capital, which permits Mosaic to move alongside decrease charges to householders.”
In addition to a robust 2020, Mosaic additionally added to its management group final month. Tamiko Kikuchi joins as Vice President of Product, and John King is the brand new Vice President and Head of Strategy and Corporate Development.
Kikuchi has greater than 10 years of expertise driving enterprise and income progress by product technique, course of enchancment and group management. Previously, she served as vice chairman of product and implementation at Renovate America, the place she oversaw the corporate’s complete software program product portfolio and company-wide product administration group.
King held management roles within the areas of finance and funding banking for greater than 15 years earlier than becoming a member of the photo voltaic trade. Most not too long ago, he co-led capital markets as Senior Vice President at LoanPal. Prior to that, he oversaw capital markets and Treasury at Sunnova.
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