The US residential solar industry actually had a strong first quarter this year, reports Mosaic. The residential solar finance company announced another milestone this week, surpassing $7 billion in loans funded through the company’s platform and hitting its highest monthly loan volume to date in March.
“Clean renewable energy is becoming an increasingly important economic driver, climate change goal and national security issue,” said Billy Parish, founder and CEO of Mosaic. “There is a growing urgency to provide affordable financing options for our partners and homeowners, and Mosaic is uniquely positioned to lead that mission.”
Mosaic also recently completed a $382.7 million securitization. This was Mosaic’s largest securitization to date and included the addition of Fitch Ratings, which rated the senior (AA) tranche of the transaction.
Mosaic has now completed 12 securitizations over the course of six years, more than any other solar loan issuer in the space. In addition, Mosaic continues to build new forward-flow and direct-origin partnerships with banks, credit unions, insurance companies and wealth managers to further strengthen its diversified financing model.
The company has also added two new executives to its team. Kim McNealy has joined as General Manager, Home Improvement, reporting to Patrick Moore, President and Chief Operating Officer. And Noura Panaritis has joined as Senior Vice President of Enterprise Applications, reporting to Nagaraju Bandaru, Chief Technology Officer.
McNealy oversees home improvement business operations at Mosaic, designing, implementing and servicing highly competitive products and services across the home improvement ecosystem, from OEMs, distributors and SaaS platforms to installers and sales organizations. He has over two decades of business development and customer experience strategy experience with a focus on high growth, technology-enabled companies.
As the SVP of enterprise applications for Mosaic, Panaritis acts as a technology business partner for the sales, marketing, finance, operations and human resources departments. She brings a proven track record in go-to-market, financial and operational technology solutions to Mosaic, most recently at LightSpeed Commerce and JD Power.
“We are honored to have Kim McNealy and Noura Panaritis join our team,” said Moore. “Their unique and compelling experience coupled with their enthusiasm for growth makes us very excited about the impact they will have in advancing our mission.”
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