Complaints

• Initial Complaint

  12/17/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  We are a lender trying to get a subordination done through Sunlight Financial. The subordination request was submitted on October 30, 2024. We keep trying to get updates on the status of the subordination as Sunlight says it is a 21 day processing time for subordinations. Finally on or about December 6, 2024. I talked to a manager that 'escalated' the subordination. I'm on the phone with Sunlight right now and they still have no update on the subordination. The borrower has incurred over $2,200 in lock extension fees due to Sunlight Financials negligence. This is NOT right!! They need to be held accountable to get this done immediately.

  Business response

  12/31/2024

  
  Sunlight Financial LLC (Sunlight) takes seriously all customer complaints and appreciates the opportunity to submit a response to this complaint filed by **** ****** **** ******), an authorized party on the account, on behalf of ******* ******** (Borrower) in relation to a solar loan.
  
  Sunlight investigated the subordination matter referenced in the BBB complaint and states that the loan servicer, Launch, is in the process of obtaining an updated power of attorney (***) from the involved trust. Once the *** matter is resolved, Launch will process the subordination. Sunlight understands the frustration caused by the delay and apologizes for the need to obtain the updated ***. Sunlight will work directly with Launch to complete the subordination as quickly as possible.
  
  ************* or the Borrower have further questions, they may contact Sunlight at ************.
  
  Thank you.  
  

• Initial Complaint

  12/11/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  On, 09/10/2024 I spoke with the contract supervisor, ****** ******, who informed me that the company that I had hired to remodel an *** and obtain permits for it, had abandoned the project. I was encouraged by ****** to hire an attorney as the company was closing. I contacted Sunlight and I submitted information that they requested. I have not heard back, and I continue to make payments and no word from Sunlight regarding them paying $40,000 to this ************ I completed my loan paperwork with Sunlight back in 03/12/2022 and they have not worked with me during this grievance process or attempted to rectify their error. Per representative who took my information when I called, Sunlight paid this *********** in full, even thought 'this is not how business is typically done" according to the representative, **** with record number *******. Sunlight has not respected me as a client and has not done anything to attempt to do well by clients like me.

  Business response

  12/20/2024

  Sunlight Financial LLC ("Sunlight") takes seriously all customer complaints and appreciates the opportunity to provide this response to the complaint filed by **** ****** (Borrower).
  
  Sunlight received a legal complaint from ****************************** (**********) on October 18, 2024, naming Borrower as a plaintiff and Sunlight as a defendant and alleging similar claims. Accordingly, Sunlight declines to discuss this matter directly with Borrower while she is represented by counsel in active litigation.  Sunlight requests that Borrower route all concerns through her counsel. 
  
  Plaintiff may also contact ********** directly if she believes she is wrongly named as a plaintiff in the above referenced matter.  Borrower can reach ********** at ************* or *******************************************************. 
  
  Thank you.

• Initial Complaint

  10/31/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I AM WRITING A COMPLAINT ABOUT SUNLIGHT FINANCIAL LLC, I TOOK OVER A LOAN FROM PREVIOUS OWNER WHEN I BOUGHT MY HOUSE WITH SOLAR PANELS ALREADY INSTALLED. I HAD PROBLEMS SINCE THE BEGINNING OF THIS LOAN BECAUSE THEY WERE MIXING UP MY INFO WITH THE PREVIOUS OWNER. FOR ALMOST THE FIRST YEAR OF THE LOAN THE COMPANY THAT WAS SERVICING THE LOAN WAS MISAPPLYING MY PAYMENTS AND TELLING ME I DIDNT HAVE THE LOAN THAT IT WAS STILL UNDER OLD OWNER. IT WAS A HASSLE EVERY TIME I CALLED.THEN WHEN SUNLIGHT STARTING SERVICING THEIR OWN LOANS THEY SENT ME A STATEMENT SAYING MY ACCOUNT WAS BEHIND, BUT THE TRANSACTION RECORDS SHOW THAT I HAD A CREDIT OF $648.18 WHICH WAS PORTED IN ON 09/1/2023. I HAB=VE BEEN ASKING IT TO BE FIXED FOR MOTHS WITH DISPUTES TO CREDIT BUREAUS AND THEY HAVE STILL NOT FIXED IT. (DOCUMENTS ATTACHED) I WASNT MY CREDIT REPORT TO BE CORRECTED, IT SAYS IN SEPTEMBER I WAS 120 DAYS PAST DUE , THAT IS NOT CORRECT. I CALLED SUNLIGHT THEY AGREED WITH ME, AND THEY SAID THEY WILL OPEN A CASE TO HAVE IT CORRECTED, BUT NEVER DID, THIS IS HURTING MY CREDIT AND CAUSING ME ISSUES WITH OTHER LOANS. I HAVE PAID ON TIME OF PAID IN ADVANCE SEVERAL TIME MY HISTORY SHOULD SHOW THIS ERROR BUT IT IS NOT BEING CORRECTED. PLEASE HELP.

  Business response

  11/14/2024

  Via BBB ************************************ (Sunlight) takes seriously all customer complaints and appreciates the
  opportunity to respond to this complaint by ******* ****** (Borrower).
  As background, Borrower assumed a Loan Agreement and Promissory Note with ****************
  (Lender or CRB) dated September 30, 2020 (Loan Agreement or Loan) by signing an Assignment
  and Assumption Agreement (Assumption Agreement) on October 19, 2022. As a New Jersey chartered,
  FDIC-insured bank, *** offers credit products through its strategic marketplace lending platform partners,
  including Sunlight, pursuant to its bank charter and Section 27 of the **************************** Act (64
  Stat. 873). *** originates such loans as the lender of record in accordance with its credit criteria and
  applicable laws, rules, and regulations. Sunlight receives and facilitates borrower credit applications on
  behalf of **************** and other lenders and oversees third-party servicers that directly service
  borrower loans.
  Borrower alleges that the previous loan servicer misapplied his payments on multiple occasions and
  consequently his credit was damaged. He further states that the current loan servicer, Launch Servicing,<****** (Launch) incorrectly reported his account as one hundred and twenty (120) days past due and failed
  to correct his credit reporting. Launch took over the servicing for Borrowers Loan on or around September
  1, 2023. The past due status of 120 days was based upon the information that Launch received from the
  prior servicer. Sunlight confirms that Launch has updated their records and that corrected information has
  been sent to the credit reporting agencies. It takes approximately sixty (60) days for updated credit reporting
  to reflect with the credit bureaus. On November 6, 2024, Launch sent a credit bureau updated letter
  confirming the corrected credit reporting to Borrower. Borrower may contact Launch at ************
  regarding any further questions pertaining to his credit reporting. Sunlight apologizes for this issue and is
  working to ensure that it is remedied as expeditiously as possible.
  If the Borrower has any additional questions or concerns, he may contact Sunlight at ************.

• Initial Complaint

  10/17/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I contracted with ********************* in 2/21/22 to install my solar system, manufactured by *********, installed by local solar company ********* and financed by Sunlight Financial. I've an inverter and power optizer failure in June 23, inverter failure December 23 and a failure October 24. ********************* is no longer in business. ********* has kept up warranty on the equipment, but the maintenance no longer exist. ******** ****** ***** contact info was: *************************************************** **************. ********* contact info is: ********************************************************** **************. Sunlight Financial contact info is: ***************************** ***** **************. It appears they were all in this together, I can't be the 1st, last and only customer scammed. I currently have an open case/ticket number with Sunlight Financial # *******. Sunlight also had a loan # of ******. System cost $66,810.63

  Business response

  10/28/2024

  Sunlight Financial LLC ("Sunlight") takes seriously all customer complaints and appreciates the opportunity to respond to this complaint filed by **** **** (You or the "Borrower").
  
  As background, you entered into a Loan Agreement and Promissory Note with **************** ("Lender" or "CRB") executed on February *******, as amended on March 1, 2022 ("Loan Agreement" or "Loan"). As a New Jersey chartered, ****-insured bank, *** offers credit products through its strategic marketplace lending platform partners,including Sunlight, pursuant to its bank charter and Section 27 of the **************************** Act (64 Stat. 873). *** originates such loans as the lender of record in accordance with its credit criteria and applicable laws,rules, and regulations. Sunlight receives and facilitates borrower credit applications on behalf of **************** and other lenders and oversees third-party servicers that directly service borrower loans.
  
  You also entered into a Home Improvement Contract for Solar Installation ("Installation Agreement") on February 21, 2022, as amended on March 1, 2022, with *************************. (Stream Solar or "Installer"),for the installation of a solar system ("System"). 
  
  In your complaint you assert that you have experienced issues with your System, however, the Installer is now out of business and is unable to provide a warranty for System maintenance. Unfortunately, due to the out of business status of Stream Solar,the Installers Warranty is no longer serviceable and cannot be replaced.However, the Installation Agreement does reference manufacturer warranties for certain of the Systems parts that are still valid, including *********, the manufacturer of the Systems inverter and ******, the manufacturer of the Systems panels. Sunlight recommends that you contact the relevant manufacturers to see if their warranties will address any alleged System issues.
  
  Thank you.

• Initial Complaint

  09/30/2024

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  On 12/16/2023 my father died, my brother and I were informed of his death when he was found two days later. He had recently obtained solar panels and likely made about two payments on them. My father had no assets and we completed a Summary Judgment Probate to transfer his home to my brother and myself. I struggled to figure out how he was paying for the solar system and could only find something on a bank statement stating "Sunlight FL". I struggled to find any contact information for the company. I finally found something and spoke to someone who insisted there was no process for a death, that they could not disclose any information, and to send a copy of the death certificate. I did and heard nothing back. I've been trying to resolve this issue but Sunlight refuses to work with me. I've also been receiving collections notices from **************** in my father's name. I've informed them that he has died and they filed another collection against the estate of my father, which does not exist because of the summary judgment probate. The collections company was able to secure the contract with Sunlight Financial which states it is connected to *****************I have since sold my home and bought my brother out of this house. I am trying to refinance the mortgage to put it in my name, but this outstanding issue with the solar panels has put that on hold. Sunlight had the panels disconnected and the roof needed to be replaced so I had the panels removed. They are all piled up on the side of my house. I notified Sunlight that the panels were removed and could be picked up to satisfy the loan but they have not responded. I would like help resolving this with Sunlight, to remove the panels and close the account.

  Business response

  10/18/2024

  
  Sunlight Financial LLC (Sunlight) takes seriously all customer complaints and appreciates the opportunity to submit a response to this complaint filed by ******* ******** **** ********) on behalf of her recently deceased father, ***** ******** (Borrower) in relation to a solar loan.
  
  As background, the Borrower entered into a ************ System Long-Term Loan Agreement and Promissory Note with **************** (Lender or CRB) executed on May 2, 2023 (Loan Agreement or Loan). As a New Jersey chartered,****-insured bank, *** offers credit products through its strategic marketplace lending platform partners, including Sunlight, pursuant to its bank charter and Section 27 of the **************************** Act (64 Stat. 873). *** originates such loans as the lender of record in accordance with its credit criteria and applicable laws, rules, and regulations. Sunlight receives and facilitates borrower credit applications on behalf of **************** and other lenders and oversees third-party servicers that directly service borrower loans.
  

  The Borrower also signed a Photovoltaic Installation Agreement on May 5, 2023 (Installation Agreement) with **********. (Installer) for the installation of a solar system (System). 
  
  *********** states that her father, the Borrower, passed away in December 2023 and she had trouble initially contacting Sunlight and did not receive clear information on the handling of the Loan when she did make contact. *** ******** also claims that she was denied access to the Borrowers account and was informed that there was no policy for the death of a borrower. Please note that unless an individual is recorded as an authorized party on the account, ********************** is unable to discuss the account details. However, upon receipt and review of the will, death certificate and other probate materials, the identified individual would be added as an authorized party. *** ******** submitted a copy of both the will and death certificate for the Borrower, which was received by Sunlight on January 8, 2024. With regard to the alleged lack of a policy regarding the death of a borrower, Sunlight states that this is false as it does have processes in place that address the death of a borrower. Unfortunately, it appears that an error was made after *** ******** submitted the death certificate and will,which impacted the handling of the Loan and caused delays. Further, Launch, the servicer of the Borrowers Loan, also erred in their handling of the account upon notification of the Borrowers passing and their collections efforts were improperly left in place. The confluence of these events has been thoroughly reviewed and remediated based on *** ********* complaint.
  
  Due to the significant delays that occurred, Sunlight and the Lender agree to cancel the Loan, delete the tradeline and terminate the Uniform Commercial Code (UCC) lien. Please be advised that this process may take between ***** days.
  
  If *********** has further questions, she may contact Sunlight at ************.
  Thank you.  

  Customer response

  10/24/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter will be resolved upon receipt of official documentation indicating the loan has been canceled.
  
  Sincerely,
  
  ******* ********
  
  
  
   
  
  

• Initial Complaint

  08/28/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  in july of 2023 I got a loan with sunlight financial for solar panels. Its been over a year they were never turn on. The compnay that install them Solar Flex went bankrupt and they said that for me to cancel the loan I need to pay the installation of the panels. It was never a complete installation therefore never a complete loan. I need to cancel the loan and get reimburse. They need also to take the panels off my roof and fix wathever is happening over there.

  Business response

  09/11/2024

  Sunlight Financial LLC (Sunlight) takes seriously all customer complaints and appreciates the opportunity to respond to this complaint filed by ****** ******* (Borrower).
  As background, the Borrower entered into a ************ System Long-Term Loan Agreement and Promissory Note with **************** (Lender or CRB) executed on June 15, 2023 (Loan Agreement or Loan).  As a New Jersey chartered,FDIC-insured bank, *** offers credit products through its strategic marketplace lending platform partners, including Sunlight, pursuant to its bank charter and Section 27 of the **************************** Act (64 Stat. 873). *** originates such loans as the lender of record in accordance with its credit criteria and applicable laws, rules, and regulations. Sunlight receives and facilitates borrower credit applications on behalf of **************** and other lenders and oversees third-party servicers that directly service borrower loans.
  Borrower also entered into a Purchase & Install Agreement on June 15, 2023 (Installation Agreement) with *********** Electric (Installer) for the installation of a solar system (System). 
  Borrower alleges that the installation of the System was not completed and that he would like to cancel the Loan.  As an initial matter, the Loan funded within the guidelines of the Loan Agreement. Sunlight received confirmation from the Installer that the System was installed on or around September 6, 2023. The Loan Agreement states that monthly payments begin approximately sixty (60) days after installation of the System.  As such, monthly payments properly commenced on November 7, 2023.  Borrower states that the System was never turned on and as a result, the installation was never fully completed.  However, the Loan Agreement clarifies that the System does not need to be operable or connected to the energy grid to be considered installed for the purposes of the Note.  As a result, Borrower is still contractually obligated to make monthly loan payments.
  Sunlight acknowledges that the Installer went out of business before the System received permission to operate (PTO), which allows the System to connect to the energy grid.  Sunlight is sympathetic to Borrowers situation given the Installers failure to get the System to PTO.  Sunlight processed three ninety (90) day payment deferrals on January 17, 2024, April 18, 2024, and July 4, 2024 to alleviate Borrowers financial stress while a resolution was being determined.  Sunlight also enlisted an alternate solar provider (Solar X) to assist in getting the System to PTO.  Solar X confirmed that they attempted to complete a site assessment on or around July 12, 2024, but Borrower would not allow them to enter his property. Borrower called Sunlight on August 20, 2024 stating that he only wants to cancel the Loan and have the System removed. While Sunlight declines the cancellation request, we remain willing to assist in getting the System to PTO, but Borrower will need to cooperate in order for the process to move forward.  Borrower can reach out to Sunlight directly if he would like to accept our assistance.
  If the Borrower has further questions, he may contact Sunlight at ************.

  Customer response

  10/01/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  Hi my comolaint havent been answer by sunlight financial. They havent cancel the loan. Even the panels have no permition to operate and the company solar flex went bankrupt. ref ******** Sent from my iPhone 

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  ****** *******
  
  
  
  
   
  

• Initial Complaint

  08/27/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I ************************* was sold a complete unit for solar panel usage by a in home salesman that worked for Sunlight and ADT Solar. He came out in April 2024 and told me that the unit and installation included everything to have it running to lower my current electricity bill. The Salesman name is *************************, his phone number is ************ and ************ is ADT. I cannot get a hold of anybody, and no one will return my calls or messages. My concern is that the job is not complete. The panels were installed on the roof and some wiring was done. The remaining part of the unit which consist of the battery pack and internal panel controller was never installed and in addition some of my wiring was left non-working in my bathroom. Certain wall plugs won't work. No one can give me an answer of his where abouts or who is responsible for the work. He was the contractor and has completely disappeared. There are sub contractors calling and sending bills for work done, which I have no idea about because supposedly **************** was taken care of this. I'm not going to pay anybody until this whole job is completed like I was told. I really have no idea of the status of this work because no one will tell me. I just want to know where ***************************** is or what the company ADT plans on doing about finishing this job.i was left with no contract or business info .All I have is a monthly bill from a company called Microf from ********** for $272.58 a month for 30 years!

  Business response

  09/11/2024

  Sunlight Financial LLC (Sunlight) takes seriously all customer complaints and appreciates the opportunity to respond to this complaint filed by ************************* (********).
  As background, the Borrower entered into a ************ System Long-Term Loan Agreement and Promissory Note with Cross River Bank (Lender or CRB) executed on April 26, 2023 (Loan Agreement or Loan).  As a New Jersey chartered,FDIC-insured bank, CRB offers credit products through its strategic marketplace lending platform partners, including Sunlight, pursuant to its bank charter and Section 27 of the **************************** Act (64 Stat. 873). CRB originates such loans as the lender of record in accordance with its credit criteria and applicable laws, rules, and regulations. Sunlight receives and facilitates borrower credit applications on behalf of Cross River Bank and other lenders and oversees third-party servicers that directly service borrower loans.
  Borrower also entered into a Home Improvement Contract Residential Solar System Installation on April 5, 2023, as amended by a change order on April 26, 2023 (Installation Agreement) with ********* LLC (Installer) for the installation of a solar system (System). 
  Borrower alleges that the Installer failed to complete the System and that he should not be responsible for monthly payments due to the incomplete project.  As an initial matter, the Loan funded in accordance with the terms of the Loan Agreement.  Sunlight received confirmation from the Installer that the System was installed on or around June 7, 2023.  The Loan Agreement states that payments begin approximately sixty (60) days after installation of the System.  As such, monthly payments correctly commenced on August 8, 2023. The utility company granted permission to operate (PTO) on June *******, which allows the System to connect to the energy grid.  ******** states that the System is incomplete due to a missing battery pack and internal panel controller.  However, neither of these items are listed in the Installation Agreement and thus are not covered by financing.  Sunlight contacted the Installer on August 28, 2024 to verify if these items were previously discussed with Borrower.  The Installer confirmed that they discussed possibly adding a battery with Borrower, but that it was too late in the project to add a battery at that time since the final inspection had begun.
   Sunlight is sympathetic to Borrowers concerns and has previously followed up with the Installer regarding this matter.  On June 4, 2024, ******** submitted a complaint stating that he was unsure as to whether his System was producing correctly. Sunlight contacted the Installer regarding this concern, who advised that eight panels stopped reporting on June 3, 2024 and that Borrower should contact the inverter manufacturer, Enphase, regarding this issue because they process equipment warranty claims.   The Installer further stated that ******** could contact them directly if Enphase was unable to resolve the issue remotely and that they would schedule a subcontractor to assess the System.  The Installer clarified that Borrower would need to contact an electrician regarding issues with the bathroom lighting and wall plugs since that wiring is unrelated to the solar installation. Sunlight advised Borrower of the Installers resolution on July 9,2024.  On August 28, 2024, the Installer provided an update stating that the System has been disconnected from the internet since July 13, 2024 and thus the Systems current production cannot be reviewed.  Ultimately, it is Borrowers responsibility to maintain an internet connection.
  ******** states that a home salesman who works for Sunlight and the Installer sold the System to him.  To clarify, Sunlight does not engage in home solicitations or any form of direct sales to consumers.  Sunlight offers an online finance platform (Orange Portal), which Sunlights solar partners may access to offer financing options to consumers interested in installing solar systems.  Sunlight was not involved at the point of sale nor did Sunlight directly solicit Borrower regarding the installation of the System.  ******** references a loan with Microf and states that he is receiving bills from various subcontractors.  Sunlight does not have a relationship with Microf and only facilitated the Loan for the solar project between Borrower and the Installer. Sunlight recommends that Borrower contact the Installer at ************** regarding concerns pertaining to the System and solar project.
   If the Borrower has further questions, he may contact Sunlight at ************.
  

• Initial Complaint

  07/29/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  On March 11, a crew came out to fix our backyard. I was told that they were going to kill all the weeds/grass and that they were going to lay some gravel down along with some turf. They came out and flattened everything along with laid down the turf/gravel. About a month later, my husband and I start to notice that grass/weeds were popping back up. Now, in July, we have a yard full of grass. To pay $8K+ for something that has our back yard looking like it originally was before the crew came out, is not satisfactory. I would please like to speak w someone to discuss options of reimbursement.

  Business response

  08/12/2024

  Sunlight Financial LLC (Sunlight) takes seriously all customer complaints and appreciates the opportunity to respond to this complaint submitted by ****************** (**************), in relation to a loan undertaken by *********************** (Borrower).
  
  As background, the Borrower entered into a Loan Agreement and Promissory Note with Cross River Bank (Lender) on February 19, 2024 (Loan Agreement or Loan).The Borrower also entered into a Home Improvement Contract with Conn Appliances,Inc. (Contractor) on February 19, 2024 (Contractor Agreement) for certain agreed upon home improvement projects (Projects). 
  
  ************* appears to allege that Sunlight did not adequately install the turf in her backyard and is requesting a refund. However, Sunlight, a fintech company,is not the Contractor and did not perform the Projects and is, therefore, not liable for the work product produced by the Contractor. Further, Borrower authorized payment to the Contractor on March 12, 2024, via text message confirming that the Projects were completed and directing Sunlight to remit payment to the Contractor.  Sunlight is aware that *********** the parent company of the Contractor, filed for bankruptcy on July 23, 2024. However, Sunlight recommends that the Borrower and ************** attempt to contact the Contractor regarding any remediation that may still be available as many locations remain open for liquidation sales. Alternatively, the Borrower and ************** may contact the Contractors subcontractor, ******* Fake Grass (Subcontractor) at **************. If the Borrower and ************** are unable to contact or obtain assistance from the Contractor or Subcontractor,they may opt to contact their **************************** for assistance.
  
  Thank you. 

• Initial Complaint

  07/15/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Sunlight Financial / Alliant credit union were the providers of the financing for MC Solar for the purchase of solar panels. MC Solar went bankrupt and never completed my job. I had to hire someone else to get it completed yet I am still having to pay the bill to Sunlight Financial /Alliant credit Union, although MC Solar defaulted on the contract. On top of that, this finance company has a lien on my home because of it even though I have continue to make payments to the finance company, Sunlight Financial/alliance, credit union.

  Business response

  07/29/2024

  Sunlight Financial LLC (Sunlight) takes seriously all customer complaints and appreciates the opportunity to respond to this complaint by ************************* (Borrower).
  
  As background, the Borrower entered into a ************ System Long-Term Loan Agreement and Promissory Note with ************** Union (Lender) executed on April 15, 2022 (Loan Agreement or Loan). The Borrower also assented to and entered an Installation Agreement executed on April 15, 2022 (Installation Agreement) with Modern Concepts Construction, LLC (Installer) for the installation of a solar panel system (System). 
  
  As an initial matter, Sunlight is not the Lender on the Borrowers Loan. As noted above, ************** Union is the Lender on the Borrowers Loan, and accordingly, receives the monthly payments on the Loan made by the Borrower.
  
  The Borrower alleges that the Installer went bankrupt and failed to complete her project. Thereafter, the Borrower claims that she paid a third-party installer to complete the installation of the System and further claims that she was still required to pay Sunlight/Lender for the Loan even though the Installer defaulted on her contract. The Borrower correctly asserts that she is still obligated to make payments on her Loan as it an agreement between her and the Lender the Installer is not a party to the Loan Agreement and never was a party to the Loan Agreement, thus their out-of-business status has no bearing whatsoever on the Borrowers obligation to repay her Loan. Furthermore, to be very clear, Sunlight fully reimbursed the Borrower for her out-of-pocket payments made to the third party installer to complete the installation.
  
  The Borrower also takes issue with the lien on her home, however, she is incorrect as the Lender has a security interest in the panels affixed to the property and not a lien on the property itself. The Loan Agreement specifically states that You understand and agree that we may make a fixture filing covering the Equipment. You further understand and agree that, at our election,we may enforce rights in the Equipment under the Uniform Commercial Code (***) and/or under state real estate or mortgage law. Accordingly, the Lender was within their legal and contractual rights to enforce the Loan Agreement and file the *** lien with the Borrowers local recorders office.The lien is terminated upon full repayment of the Loan and paying the Loan as proscribed by the Loan Agreement does not obviate the right of the Lender in filing the *** lien.
  
  If the Borrower has any additional questions or concerns, she may contact Sunlight at ************.
  Thank you.
  
  

• Initial Complaint

  07/15/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  This started when I tasked my ex girlfriend to call around for solar panel installation quotes. She immediately called ************************************ (WREC) out electric provider and they suggest Coronado Solar. I found this strange that a non-profit, coop was suggesting any solar company but maybe they get a kickback from it I didn't not know. However I wish they'd never suggested Coronado. The salesman from ********************************, put great pressure on myself and my ex, he wouldn't take no for an answer and the under great, great duress I caved and signed a bunch of things I wasn't in agreeance with. He did change the terms to make it slightly less of a bilk but the cost is beyond any reasonable cost, nearly $70,000 for ground mount solar. Too to my complaint is that they use Sunlight Financial as the financial institution, there are a mountain of complaints against Sunlight for bad business practices. I didn't really have an issue until this month when they raised my solar fee from $255 to $325 without so much of a warning. They think people do not check their statements and wouldn't expect such a hike. Upon speaking with customer service who were very rude and stated that the company want 20-30% of the total loan to keep the rate the same. I was told by ******* that I could pay with the tax credit over 20 years to pay off $20,000+ and that the rate would stay the same if I put a thousand or so on the principle upon receipt of tax credit, which I did. I paid several thousands off on the principle and yet they still raised my rate, without my knowledge in an attempt to cause me to default on my payment so that they can take my house. They also tie in ******************** to make the consumer create an account which the them as well for some reason. These three companies are all in bed with each other to bilk the consumer out and of thousands and thousands of dollars. Hardly any of the payment goes to the principal and it isn't right. I want answers!

  Business response

  07/29/2024

  Sunlight Financial LLC (Sunlight) takes seriously all customer complaints and appreciates the opportunity to respond to this complaint by *********************** (Borrower).
  
  As background, the Borrower entered into a ************ System Long-Term Loan Agreement and Promissory Note with ************** Union (Lender) on July 13,2022 (Loan Agreement or Loan). The Borrower also assented to and entered a Residential Sales Agreement on July 27, 2022 (Installation Agreement) with Coronado Solar (Installer) for the installation of a solar panel system (System). 
  
  As an initial matter, the Borrower alludes to a possible kickback between his local utility company, ************************************ (WREC) and the Installer, based on WRECs referral to the Borrower to contact WREC to obtain a solar panel installation quote. Sunlight has no knowledge of any agreement or arrangement between the two parties.
  
  ******** also alleges that the Installer improperly pressured him into signing a bunch of stuff he (sic) was not in agreement with. Sunlight cannot comment on any of the Installers sales tactics or the substance of any of their interactions.  That notwithstanding, Sunlights records show that two weeks elapsed between Borrowers initial meeting with the Installer and his execution of the Loan Agreement. Furthermore,******** has consistently made payments on his Loan to the Lender without issue,thereby further implying acceptance of the terms of the Loan Agreement.
  
  Sunlight rejects Borrowers unfounded, general claim of bad business practices against Sunlight. The screenshots provided of alleged online complaints from unknown consumers have no bearing whatsoever on Borrowers specific allegations against Sunlight as the unknown consumers are not parties to any of the agreements at issue between the Borrower, Installer or Lender, and are therefore irrelevant.
  
  The Borrower takes issue with an increase in his monthly Loan payments and claims that he was not aware that there was going to be an increase. This allegation is also unfounded.  The Loan Agreement includes two amortization schedules that outline the application of payments with and without a voluntary payment following an explanation of how payments may change if the voluntary payment is made. Furthermore, the Lenders servicer sent the Borrower a voluntary payment reminder on May 30, 2024, providing advance notice of the pending increase to the monthly payments if the Borrower opted not to pay the voluntary payment.  Accordingly,the Borrower knew or should have known the details of the monthly payments on the Loan and the optional voluntary payment.
  
  During a May 30, 2024 call with the servicer, the Borrower claims that he was advised that he needed to make a payment of 20% -30% of the total loan amount in order to keep the monthly Loan payments the same. The Loan Agreement specifically lays out the amortization schedule, including the voluntary payment amount. The voluntary payment is an optional payment that can be used to reduce the principal balance of the Loan. The Borrower may decide to make the voluntary payment or choose not to. However, if the voluntary payment is not made, then, as clearly set forth in the amortization schedule, the monthly payments will increase.
  
  In relation to the above, the Borrower claims that the Installer represented to him that he could pay with the tax credit over 20 years to pay off $20,000+ and that the rate would say the same and that he made several thousand dollars of payments toward the principle, however the rate was still raised without his knowledge in an attempt to cause him(sic) to default on his (sic) payments so that they can take my house. Sunlight vehemently disagrees with the Borrowers characterization of any attempt to force him into default to take his home. Sunlight is not a lender or creditor on the Borrowers account, and therefore has no pecuniary interest as to whether the Borrower defaults on his payments. Further, the Lender only holds a security interest in the System and does not hold any lien on the Borrowers property, and accordingly cannot foreclose on the property. Lastly, the Borrower has a fixed rate Loan at no point will the interest rate increase on the Loan.  This is all clearly articulated in the Loan Agreement that the Borrower executed.
  
  Finally, Sunlight denies any allegation that it misrepresented the tax credit. The Loan Agreement expressly addresses the Federal Tax Credit three different times, and each reference specifically states that a Tax Advisor should be contacted regarding available benefits and whether a borrower qualifies for any of those benefits. The Loan Agreement makes no promise whatsoever that a borrower will receive all available Federal Tax Credits, which is precisely why the Loan Agreement recommends consultation with Tax Advisor to fully understand eligibility and the amount that could qualify for as a credit.  The Installation Agreement also refers the Borrower to consult with a tax or financial advisor regarding tax credit questions and whether the Borrower qualifies for any of the incentives, rebates or otherwise. Finally, the Installer specifically states that it makes no representation, warranty or guaranty as to the availability or amount of Incentives.

  
  If the Borrower has any additional questions or concerns, he may contact Sunlight at ************.
  Thank you.
  

  
  

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩