Lending platform Mosaic announced an additional multi-year loan purchase program for around $1.5 billion with what it said was a global investment firm.
The investment is in addition to a separate $1.5 billion, multi-year loan purchase program with Congressional Bank announced on April 14. That program gives Mosaic access to Congressional Bank’s subsidiary, Alliance partners, the asset manager to BancAlliance, a network of more than 260 community banks nationwide.
The new financing partnerships are expected to help more than 100,000 homeowners afford sustainable energy and home improvement projects.
Earlier, Mosaic announced a $331 million securitization of its residential solar loans, its ninth loan securitization to date. The securitization was priced at a weighted average yield of 2.0% and was inside of 100 basis points.
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