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Sunlight Financial complaints

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234 West 39th Street 7th Floor
New York, NY 10018 | Get Directions

(888) 850-3359

http://www.sunlightfinancial.c...

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Total Amount in Dispute:
$0.00

Total Amount Settled:
$0.00

Complaint Experience

100%

Complaint Resolution Index (CRI)

Complaint Resolution Index (CRI) Explained The Complaint Resolution Index (CRI) is an indicator on how responsive a company is in addressing and resolving customer complaints brought to their attention by BCA. If they are considering doing business with the company, consumers can use this indicator to forecast the likelihood of having their issues addressed if a problem arises. CRI measures the company's customer satisfaction abilities through BCA’s complaint mediation process.

A variety of factors are considered when calculating CRI. This includes how quickly a company responds to complaints, the number of complaints against a company, whether the company addressed complaint allegations, and the outcome of the complaints. CRI is just a subset of the overall rating for the company. Consumers are encouraged to take into consideration the company's CRI, their overall BCA letter rating and other relevant information about the company so they can make a well-informed purchasing decision.

BCA's Summary and Analysis:

Our complaint history for this company shows that the one complaint brought to the company’s attention was responded to and given proper consideration.

Complaint Closing Statistics

1 complaints against Sunlight Financial closed in last 3 years.

Complaints	Type of response
0	Making a full refund, as the consumer requested
0	Making a partial refund
0	Agreed to make an adjustment
0	Refusing to make an adjustment
1	Refuse to adjust, relying on terms of agreement
0	Unanswered

1 complaints against Sunlight Financial

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11/11/2021

RESPONSE: Refuse to adjust, relying on terms of agreement Amount in Dispute: $0.00 Amount Settled: $0.00

Customer Complaint

10/28/2021

I am attempting to refinance my home in McAllen, Tx 78504 and I am unable to because of my installed solar panels have a lien on my home. I understand my financing of my solar panels would require a lien to be placed on my home but I was also told and have read that if choose to refinance for a lower interest rate I wouldn't have a problem with this process. I have a approved/clear to close with my new mortgage company but the title company Valley Land Title attorneys have reviewed a subordination agreement sent over to allow my refinance is not approved by the attorneys of VLT and also with the closing department of WillowBend Mortgage which is doing the refinance. Attorneys with VLT and WBM state that the subordination agreement does not specify specifically that the lien that Sunlight Financial has on my home is specific to the equipment and all attorneys involved have stated that the produced sub agreement could be over the entire home because of how vague it is. Subordination agreement request 10/1/2021 Request ID: 913-8112765-000 Contact person at Sunlight Financial Bobbi Tucker finance@erusenergy.com Sunlight Financial Date of purchase/financing 3/12/2020 Resolution Sought I would like my ability to refinance my home and Sunlight to provide a adequate subordination agreement that attorneys at Valley Land Title and Willow Bend Mortgage would accept simply identify the lien is only on the equipment would solve this concern of mine.

Company Response

11/1/2021

Sunlight Financial LLC ("Sunlight") takes seriously all customer complaints and appreciates the opportunity to respond to your October 28, 2021 complaint filed with the Business Consumer Alliance. Per your Solar Energy System Long-Term Loan Agreement and Promissory Note, dated March 12, 2020 (the "Loan Agreement"), by and between you and Cross River Bank and subsequently assigned to Global Atlantic, the security interest is a security interest in personal property and not in real property. As such, the lien is placed on the solar energy system and not the residence itself. We received your subordination request on September 10, 2021 and we sent you our subordination agreement on September 14, 2021. As company policy, we are unable to use a separate entity's subordination agreement; therefore, we recommend engaging with your title and mortgage company to review and execute the subordination agreement to refinance your mortgage. If you have any other questions, please feel free to call Sunlight at 888-850-3359.

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