FAQ on Home Refinance as Lease Customer
What is the Filing Fee Acknowledgement and Letter of Affirmation?
You must sign the Filing Fee Acknowledgement Letter before SunPower can terminate the filings. Since SunPower must pay the county each time we have to terminate or re-file the fixtures, this is your acknowledgment that if SunPower terminates the filings at you or your lender’s request, that you will be responsible for reimbursing SunPower for the $300.00 filing Fee. Additionally, you can request that your title or escrow company sign the Letter of Affirmation, which is their acknowledgment that they will collect at the close of Escrow, the $300.00 filing fee and remit to SunPower after you close escrow. If the $300.00 filing fee is not received by SunPower, it will be added to your monthly invoice.
Will UCC filing be reinstated after refinance?
SunPower will refile UCC 60 days after termination of the original filings.
Can I do a buyout of my Solar System during a refinance?
You may purchase your SunPower system at any point. Please call SunPower at 1-800-321-1770 to order an updated buyout quote and learn more about the benefit of owning your system. Our representatives can assist you with any additional questions or concerns you may have.
How does my title officer request a termination of the UCC filings?
The best method to submit your request is visit www.sunpower.com/life and click “Submit Online” to submit your request online. Here, you can request the termination of the UCC filings. Alternatively, you can call 1-800-321-1770 opt. 1 and speak to one of our customer service representatives to initiate the process, or email email@example.com with a completed Refinance form. Please ask your escrow or mortgage officer to send us the completed Refinance form along with the preliminary title report to firstname.lastname@example.org. The escrow officer will receive electronic copies of terminated UCC documents, which should satisfy the requirements of your lender.
Are there any fees associated with refinancing requests?
Yes, there is a $300 processing fee.
I'm refinancing my home, how should I start the process?
The best method to submit your request is visit www.sunpower.com/life and click “Submit Online” under the Refinance section to submit your request online. Please remember to attach all of the applicable documents so we can process your request without unnecessary delays. Alternatively, you can call 1-800-321-1770 opt. 1 and speak to one of our customer service representatives to initiate the process, or email email@example.com with a completely filled out Refinance form.
I’m refinancing my home and the title requires "a subordination". What does "subordination" mean?
If the Solar System is located in California, SunPower - as the Lessor of the Solar System - is required to record a Notice of an Independent Solar Energy Producer Contract with the county recorder's office, pursuant to Section 2869 of the California Public Utilities Code. This filing is simply a notice that a Solar System is located on your property. SunPower will process a Subordination Agreement during the refinancing process. The Subordination Agreement document will be submitted electronically and will be provided to the lender.