Solar Servicing LLC has announced it will acquire Mosaic, a leading residential solar loan provider that announced Chapter 11 bankruptcy filing in June.
Founded in 2010, Mosaic funded over $15 billion in loans to date, supporting over 500,000 households financing solar, battery storage and other home energy products.
Solar Servicing LLC is a wholly owned subsidiary of Forbright Bank, the company said it will discontinue originating new loans but will provide support to existing loans.
“While there are no plans to originate new solar loans, for loans that were partially funded as of the bankruptcy filing, a dedicated pipeline team has been hired to support system installers and loan owners as they work towards a resolution,” said Mosaic in an email sent to its installer partners.
Under the terms of the transaction, borrowers’ payment terms and schedules remain unchanged and there are plans in place to avoid disruptions in service, said the company.
Solar Servicing LLC said Mosaic’s various payment methods remain active, and borrowers can continue to make payments as they have done prior to the announcement.
Paul Hastings LLP served as legal counsel, BRG served as chief restructuring officer, Jefferies served as the investment banker, and C Street Advisory Group served as strategic communications advisor to Mosaic. Blank Rome LLP served as legal counsel and Huron Consulting Group served as financial advisor to Forbright Bank.
Prior to filing bankruptcy, the Mosaic said it took actions to reorganize the business to meet cash liquidity needs. However, it said macroeconomic challenges facing the entire residential solar industry, including high interest rates and legislation that threatens to eliminate tax credits for residential solar, have impacted the flow of capital. Residential solar installations declined 31% in 2024 and ongoing uncertainty related to the 48E and 25D federal solar tax credits is casting clouds over the industry in 2025.
The company announced in May it would pause operations, warning its installer partners there would be significant delays in milestone payments. Missed milestone payments cause a “cascading effect” that can lead to cash flow crises for residential solar installers, said EnergySage.
EnergySage said residential solar loans declined in market share in 2024, representing 43% of contracts, the lowest since 2017.
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In spring of 22 Mosiac issued me a loan to install solar on my property-99 east st easthampton ma. However on may 15 the property became massively fire damaged and the property became uninhabitable. The solar instillation was cancelled and the mosaic loan was cancelled before any actual funds were received or applied . However Mosaic never removed the loan from my credit report. Even though it has been inactive [no payments] for 3 years, the cancelled loan is now making it difficult for me to obtain a mortgage on another property. Can you please remove it from my credit report? My cell is 413 530 8040 I am co-owner with David Rosoff His email is david rosoff1@gmail.com cell 423 530 8040
As above – I just need my cancelled loan from Mosaic removed from my credit report. Mosaic should have done that when-due to fire damage to the property-I cancelled the loan from Mosaic for solar panel instillation. Again no funds have ever been applied or paid on this 3 year old defunct loan
Same here my project with freedom forever was canceled oct.29 2024. I had no idea moasic had sent freedom forever 38681.90 to freedom forever in September 2024, this loan should not exist. I contacted freedom Forever and they sent all documents needed for the loan cancellation to mosaic. Mosaic confirmed receiving project cancellation documents from freedom forever but is now saying they are waiting for court approval to process loan cancellations. I have read the sept22 2025 plan of Reorganization and the filings outlining the transition to solar servicing llc, I cannot find anything stating that loan cancellations cannot be processed without court approval. In fact sept22 announcement states there was a pipeline team hired for finding resolutions for partially funded projects like mine. And IF mosaic really needs court approval to process loan cancellations, then moasic should be filing with the courts to obtain approval for processing loan cancellations. I have asked these questions to mosaic and solar servicing, they both ignore those questions. And they both just send me auto generated responses to my emails that dont have nothing to do with m situation or contradict other email responses from just days earlier. Very frustrating and when I call solar servicing support team they cannot view any of the emais I have received or sent to solar servicing or mosaic. I cannot speak to anyone from the pipeline team. The support person cannot speak or have any form of direct contact with pipeline team to help bring any clarity to the situation. Its hopeless I contacted the office of federal trustee appointed to thie moasic chapter 11 bankruptcy bur have not received a call back or any email..
My name Is Juanita Rivera and I have loan with Moscic. I am very disappointed that I had a salesman name David. He sold me 29 planes and he told me my payment would be 180.00 dollors He later told me heade a mistake and I would start paying 253.00a month
He also told me he need to fix my roof the panels to fit. So with all that he charged be 53,000 interest of 2.99%.if I had problem he would always help and have the problem fix. He promised me 8,000 dollors and he took a picture of me holding it saying that I would get 8,000 He did give me check of 253.00. That was only one and he was gone that was 2022 and I have never seen again. I keep calling him and his phone was disconnected. I found the installer phone number and I call him that I was having problems with panels and that I was paying alot of money for my electricity. So the man send someone to fix it. He also gave me a check for 700.00 dollors.i send in my statement of my light. The installer told me that the salesman David was gone that he had gotten caught by Ice. He said he has not seen either. So now I don’t have salesman and recently my installer no longer answer my phone call either. I text him and he never answers. I still have to pay my monthly payment with no services. I call Moscic and they told me to talk to the installer and they should help me. So I no one and I am alone to help and they do want me to pay 53,000 dollors. I feel that the salesman scam me. The installer told me that’s to much money. I am 75 years old and I don’t want to lose my home. I paying to my j interest I will never finish paying like that. I need help I did talk with a law firm that wanted 2,000 dollors up front to see if they could help me. I don’t have that kind of money. If anyone wants to help me please call me. Juanita Rivera 361-331-8788