Mosaic
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About Mosaic
- Year Established
- 2011
- Phone Number
- 855-746-5551
Services Offered
- Financing
Industry Certifications
What Customers Are Saying
I never leave reviews, but I am at loss for what else to do with this company. Earlier this year, I purchased a home that had solar panels financed by Mosaic. In Feb of 2024, I was approved to assume the loan from the seller and signed everything I needed to. The seller never signed their part, so Mosaic cancelled the loan assumption. I was not made aware that Mosaic was having difficulties getting a hold of the seller nor was I told that anything else needed to happen in order for me to assume the loan. Since the loan was still in the seller’s name, it became delinquent. I finally got a hold of the seller and told them to contact Mosaic. The seller brought the loan current and told me Mosaic would be calling me to start the process over again. They never called me. I called them last week, and they told me I have to apply again resulting in another hard hit on my credit. I applied and this time I was denied because of delinquent payments. They use equifax and experien. I verified with both bureaus that I do not have any delinquent payments on my credit report. I called their underwriting office and tried to offer to send my official credit reports so they can see that I do not have any delinquent payments. I think they are counting the seller’s delinquent payment(s) against me that occurred during the loan assumption process. This is unfair as the loan was never in my name. I’ve called several times and requested to speak to a manager twice. I also emailed both of their email addresses twice. I have not gotten any response. When I brought my concern to them last week, they talked in circles, blamed the seller, and then told me to reapply in 30 days (which another hit on my credit). I don’t have any delinquent payments on my credit report, so I am not sure what they are expecting to change in 30 days. I was also told that they were doing soft hits but they are not. So far, I have not been able to assume the loan for the solar panels that are on my house. They refuse to remove the panels or remove the lien even though they are not in my name.
This company is a scam. They work with several solar companies and do the same. If you finance with them the add a dealer fee to the total price value of the solar panels, and the fees are exactly what you supposed to get on the taxes return. They take that money way from you. They make you believe that they are giving you a break until you get the tax refund. In my case the loan was $ 37,539 but the original balance the system was around $26,000. Imagine… do your research.
Mosaic has placed their customers in a terrible position. Please know that the other reviews are correct. They place a lien on your property and will say that's not how it's listed but yet that's how it's exactly recorded on your title, and they make no effort to assist their customers in resolving the matter such as a temporary release / subordinate in order for you to move forward with your lender, since according to them it's not a lien on your physical property. For it not being a lien than what's the problem with it being removed as you work with your lender. The account with Mosaic is in good standing, not one missed payment. When help was requested on 4/29/24, there was no manager available to speak with & a call back was requested but never received as of 5/3/24. An email was sent which stated the following..... Mosaic is unable to update how we have reported our loan to affect how it appears to your lender. A couple recommendations for moving the refinance process forward as soon as possible: • Encourage your lender to consider credit reporting that comes directly from any of the three major credit reporting agencies. • Consult another lender who bases underwriting on information derived directly from any of the three major credit reporting agencies. Lenders are having issues with closing due to Mosaic unwillingness to be of better assistance to their customers. If we were aware that this would be the outcome of adding solar to our home, we would have NEVER got it. 1.) what does the credit reporting agencies have to do with how it's recorded with the county recorder. 2.) Why should a customer have to consult another lender whose information is derived directly from the 3 major credit reporting agencies if that is what was exactly done by the lender they are working with? Is Mosaic not aware that the lender would automatically pull the applicant credit information from all 3 major credit reporting agencies to move forward with the application that has been submitted? Is Mosaic assuming that lenders are not gathering the credit information for all 3 major credit reporting agencies for these to be the only 2 options provided? Why should the customer have to start over with another lender, take a hit to their credit due to the issue being how its recorded on the title not what's being reported with the 3 major credit reporting agencies as that has nothing to due with the title. The only option therefore would be for you to pay the solar system off, which is absolutely ridiculous! Mosaic has purposely placed their customers in an impossible situation not thinking their actions out carefully as to how this would impact their customers.
This company is a scam who provides no assistance. Passes me a round like a cheap whore between departments and takes forever to speak with anyone and get told mismatched information. I keep going back and forth between mosaic and freedom forever getting the run around.
Just like a previous post said, I believe this company is working with installers like freedom forever to fund loans for incomplete projects. My project never started because it was cancelled by the installer a year ago. How is it that this loan was even funded? It’s been 4 months in the “cancellation” phase and Mosaic expects me to begin payment to protect my credit history. After reading many reviews, I believe these two companies are scheming.
This company states they will not fund your loan until you sign a proof of completion confirming the installers completed the work; however, they fund the loan as soon as you sign and hang over the money to the installer who will likely not complete your project and will take off with your money leaving you to pay back tens of thousands of dollars for work you did not receive. There is a high likelihood that they are scheming with the installation companys to steal money from potential clients. Under no circumstance should you sign any contract with this company as it can potentially ruin your life.
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Location
Headquarters
-
601 12th St., Suite 325
Oakland, CA 94607
United States601 12th St., Suite 325
Oakland, CA 94607
United States
