Consumer complaint received 2022-10-28
Product: Payday loan, title loan, or personal loan — Installment loan
Issue: Problem when making payments — 
Company: Solar Mosaic LLC (TX)

This situation is specifically involving solar panel installation and loan agreements. I met with a salesperson in XX/XX/2022 to discuss putting solar panels on my roof. After agreeing to terms with the salesperson, he connected me with their partner lender Mosaic. 

Mosaic made the sign up process for the loan very simple and documents were signed on XX/XX/2022. 

The salesperson was and is still my only contact with anyone in the process, and I was told on XX/XX/XXXX that permitting would begin immediately and on XX/XX/XXXX was told that they were waiting on final approval by the energy provider in my area, which should be done " by end of the week ''. As of XX/XX/XXXX today, it is still not operational. 

On XX/XX/XXXX, Mosaic emailed to ask whether the system was operational, and I responded by email that it was not. 

On XX/XX/XXXX I was informed by the city that the system failed inspection due to installation errors by the contractors. On XX/XX/XXXX, I received an email from Mosaic informing me that my first loan payment was due on the panels. 

I called Mosaic on XX/XX/XXXX and let them know that the system is not yet operational, as I previously emailed in XXXX, and I was told that regardless of that fact if I defer payment on the loan it would continue to gain interest and would be met with a late fee for nonpayment. 

I tried to explain the situation, but the loan officer told me that their contract states that the time for repayment of the loan begins 90 days after the loan company first sends payment to the contractor for installation costs. Here is the applicable section of their loan agreement for reference : 5. LOAN DISBURSEMENTS. We will disburse the loan proceeds on Your behalf to Your Installation Contractor ( or the equipment manufacturer if directed to do so by the Installation Contractor ) and, if applicable, to Your Operations and Maintenance Contractor, upon achievement of certain conditions described on the Loan Disbursement Schedule on the Summary Page. Loan disbursements will be disbursed to Your Installation Contractor ( or the equipment manufacturer if directed to do so by the Installation Contractor ) after certain conditions we establish at our discretion are met. We reserve the right to update, revise and/or remove the conditions necessary for loan disbursements to be transmitted to the Installation Contractor ( or the equipment manufacturer if directed to do so by the Installation Contractor ) without prior verbal or written notice. You understand that in order for us to make disbursements on Your behalf, we may require You to confirm ( verbally or electronically ) that the Installation Contractor has satisfied certain conditions in the installation process. In the event that You fail to confirm that certain conditions have been met, we may decide in our discretion to still disburse loan proceeds to Your Installation Contractor ( or the equipment manufacturer if directed to do so by the Installation Contractor ) if we determine that all conditions were satisfactorily met. 

I have not been told yet what the " certain conditions '' they established at their discretion even are, much less if they have been adequately met. 

I did signed a loan completion certificate with the loan company after being told by the installers that they had completed installation. After the inspection failed, I made a request to the loan company that the completion certificate be rescinded and I was told that my request was denied and that they had already fully funded the installation company. As a result, my loan payments are scheduled to start on Tuesday XX/XX/XXXX, with no functional use of the panels on my roof.