Consumer complaint received 2025-05-02 00:00:00
Product: Mortgage — Other type of mortgage
Issue: Trouble during payment process — Loan sold or transferred to another company
Company: Solar Mosaic LLC
State: AZ

Complaint narrative:
Subject : Formal Grievance Regarding Deceptive and Misrepresented Loan Terms XXXX XXXX for Member Number XXXX / Loan XXXX Dear Mosaic and XXXX XXXX XXXX, We are writing to formally raise a serious grievance regarding the solar panel financing arrangement established in connection with our installation facilitated through XXXX XXXX XXXX and his solar company, XXXX XXXX. While XXXX XXXX and his representatives were the point of contact during the purchase, the financing of the solar panel system was ultimately administered by your institutions, and therefore, the responsibility for the terms and their enforcement rests in large part with you. 
At the time of purchase and contract execution, we were clearly and repeatedly assured both verbally and in writing via email correspondence, proposals, and related materials that the loan we were entering into would be fully transferable to a future homeowner in the event of a sale. This representation was pivotal in our decision to move forward with the system and associated financing. 
Having owned solar in the past, we are acutely aware of how important loan transferability is to preserving both the value and marketability of a property. It is not only a matter of convenience but one of financial prudence. We entered into this agreement in good faith, relying on these documented assurances. 
Now, nearly four years later, as we prepare to sell our home, we have discovered to our shock and serious detriment that the loan is in fact non-transferable, and that any future buyer would be prohibited from assuming it. This revelation contradicts all prior representations made to us and has placed us in a highly vulnerable financial and legal position. 
Had we known this at the outset, we would have categorically declined the loan. The presence of this untransferable lien now significantly impairs our ability to sell our home, a condition we were explicitly promised would not occur. 
This constitutes : Misrepresentation and deceptive lending practices Breach of contract or implied good-faith agreement A potential violation of the Truth in Lending Act ( TILA ) An unfair and predatory lending arrangement, especially given that this feature was misrepresented at the time of loan origination We are not only disappointed we are now actively burdened by the consequences of a financial product that was sold to us under false pretenses. Regardless of who physically made the representations, Mosaic and XXXX XXXX XXXX, as the lending entities, are directly responsible for the administration, disclosure, and enforcement of the loan terms. It is your obligation to ensure your financial products are clear, fair, and legally compliant, and that any third-party agents or dealers representing them do so accurately. 
Accordingly, we hereby demand the following : Written confirmation that the loan will be made fully transferable, as was originally promised and presented to us at the time of agreement ; or The immediate removal of the solar panel system from our property and a full refund of all payments made to date, including interest, penalties, and any related costs incurred. 
Additionally, please see the attached invoice provided by XXXX, which reflects the terms discussed, including the assurance that the loan would be fully transferable, and shows that the system was paid for under those expectations.

Company response to consumer: Closed with explanation