Consumer complaint received 2026-05-18 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Charged fees or interest you didn't expect — 
Company: Solar Mosaic LLC
State: NY

Complaint narrative:
Re : Formal Complaint Against Mosaic / Solar Servicing Loan # XXXX Deferred Interest Overcharge ( ~ {$10000.00} ), Contractor Misrepresentation, FTC Holder Rule To the Consumer Financial Protection Bureau : I am submitting this formal complaint against Mosaic ( loan originator ) and Solar Servicing ( XXXX XXXX XXXX, XXXX, AZ XXXX, loan servicer ) regarding Loan # XXXX. My complaint involves two serious issues : a verified mathematical overcharge in the deferred interest calculation of approximately {$10000.00}, and material misrepresentations made by the contractor whose financing Mosaic arranged as part of the same transaction. Transaction Background On XX/XX/XXXX, I signed a solar installation contract with XXXX XXXX XXXX XXXX ( XXXX XXXX # XXXX ) for a XXXX XXXX XXXX XXXX. The contractor arranged Mosaic XXXX as part of the sale. I signed a loan agreement for {$74000.00} at 8.99 % APR over 26 years, with a 12-month deferred interest promotional period ( XX/XX/XXXX XX/XX/XXXX ). As of XX/XX/XXXX, my outstanding balance is {$79000.00} with XXXX payments of {$670.00} remaining a total repayment of approximately {$200000.00} on a {$74000.00} loan. Issue 1 Verified Deferred Interest Overcharge of ~ {$10000.00} After carefully reviewing my loan, I have identified what appears to be a significant unauthorized overcharge when the deferred interest was capitalized at the end of my promotional period. The verified calculation is as follows : Contract terms : {$74000.00} principal | 8.99 % APR | 0.0246 % daily rate | ~370-day promo period Daily interest : {$18.00} | Expected deferred interest : ~ {$6800.00} ( simple ) to {$7100.00} ( compound ) Expected balance when payments began : ~ {$81000.00} {$82000.00} What actually occurred : Working backward from current balance ( {$79000.00} ) and total paid ( {$12000.00} ), the implied starting balance when payments began was ~ {$92000.00}. Deferred interest actually capitalized : ~ {$17000.00} Overcharge : ~ {$10000.00} {$10000.00} approximately XXXX what the contract rate justifies. This overcharge can not be explained by the contracted 8.99 % APR. I have formally demanded from Solar Servicing a complete accounting including a daily interest ledger for the promotional period, the exact capitalization amount and date, the compounding methodology used, and a full amortization schedule. I have not received this documentation. I am requesting that the Bureau direct Mosaic/Solar Servicing to provide this accounting and to correct the overcharge if confirmed. Issue 2 Contractor Misrepresentation and FTC Holder Rule Because Mosaic 's financing was arranged by the contractor as part of the same consumer transaction, the FTC Holder Rule ( 16 C.F.R. 433 ) applies. The contractor made the following material misrepresentations that induced me to sign : ~ {$50000.00} in tax credits promised. The actual federal XXXX for a system this size is approximately {$22000.00}. No {$50000.00} credit was ever received. Zero utility bills promised. Meter continues to generate monthly electric bills. The system does not perform as represented. Ongoing repair service promised. XXXX XXXX XXXX XXXX has gone out of business. No warranty service is available. Under the Holder Rule, Mosaic can not disclaim responsibility for these misrepresentations. I have written to Solar Servicing demanding loan cancellation on this basis and have not received a satisfactory response. Current Harm I was paying $ XXXX on a loan whose balance was inflated by ~ {$10000.00} in what appears to be an unauthorized deferred interest overcharge ; I continue to receive utility bills I was told would be eliminated ; The contractor is out of business and no warranty service is available ; and The total repayment on this loan is ~ {$200000.00} nearly XXXX the original principal a burden I would not have accepted had accurate information been provided. Relief Requested from the Bureau Direct Mosaic/Solar Servicing to provide a complete loan accounting including daily interest ledger for the promotional period, exact capitalization amount, compounding methodology, and full amortization schedule ; Investigate the deferred interest calculation for compliance with TILA and applicable regulations ; If overcharge is confirmed, direct correction of the balance and refund of overpayments ; Investigate Mosaic 's contractor partnership practices under the FTC Holder Rule ; and Consider cancellation of Loan # XXXX given the totality of misrepresentation and financial harm. I am happy to provide all supporting documentation including the signed contract, billing statements, and my correspondence with Solar Servicing. Thank you for your attention to this matter. Respectfully submitted,

Company response to consumer: Closed with explanation