ComplaintsforSelene Finance

Financial Services

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Customer Complaint:

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Initial Complaint
06/05/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
my mortgage loan was sold to this company. my payments and information is updated via my account and access on their website. they continue to call me unsolicited, dont leave messages and when i speak to a live person try to get me to confirm personal information even though they call me. This seems like a scam and when a supervisor is requested they refuse.
Business response
06/18/2024
Dear Dispute Resolution Department,

Please see the attached response.

Thank you,
Executive Resolution Team
Selene Finance LP
Initial Complaint
05/22/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I made changes to my homeowners insurance policy which should've made me eligible for an escrow analysis. But Selene is doing everything to prevent my mortgage price from going down like is deserved. 3 months of asking for an escrow analysis, 8 different representatives telling me different things (rep. 1: oh, give us 2 weeks to complete the escrow analysis . Two weeks later, I call to check to see if the analysis was completed as promised and they said there's no evidence that an escrow analysis was ever looked into. Rep 2: oh, give us a month. A month later, still no escrow analysis ever started on. Rep 3:" give us two days. "Two days later and they still have not done an escrow analysis. The escrow analysis fiasco is just one of too many things they put me through. Meanwhile, my monthly mortgage was increased. There's also my loan modification nightmare, Selene not paying my homeowners insurance on time, losing documents and other bizarre irresponsibilities. I recently fell behind a couple payments on my mortgage and now they're threatening to accelerate my loan. My loan is in default and they will not allow me to make a normal monthly payment of $678 next month- it has to be DOUBLE that amount and an additional $2,189 to cure the default and get my account back on track and prevent foreclosure homes. Selene is giving me an unreasonable amount of time to come up with all this money...3 weeks. I asked why?! And all I was told was "ItS cOmPaNy PoLiCy". I am on disability, have lived in this home for 26 years and have assumed the loan after the original borrower, my mother, passed away 6 years ago. Representatives would not even try to sympathize with our situation. Selene has refused to work with me and my family. Their ultimate goal and only priority is to just drive me out of my home so they can take it for their own selfish reasons. I need my house to be able to live in; they don't.
Business response
06/05/2024
Dear Dispute Resolution Department:
Please see enclosed response.
Thank you.
Sincerely
Customer Service
**********************
Initial Complaint
05/19/2024
Complaint Type:
Order Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
To Whom It May ********* am writing this letter because I am very concerned about the mortgage loan servicer Selene Finance. They acquired my mortgage in September 2022. At that time, Selene did not increase my escrow payment. Prior to that, I had several other mortgage servicers with whom I had no issues. I never had issues in 17 years until Selene.Selene did not pay my real estate taxes until May 2023 (after I was dealing with them every month for 5 months). Selene apologized. Theres no equivalent of reporting bad banks or servicers for violation of services.In June 2023, Selene was updating their online banking system and notified customers that there might be problem. I had an issue that unfortunately culminated at the same time that there was a ******** hack that drained $4K out of my checking account. After getting that remedied I utilized the ******** program (I was btwn consulting jobs). I qualified for the program. I was told that I would not need to make any payments towards my mortgage until February 2024.Selene did what they do to other homeowners - mess with their credit. Selene got paid per the program. Selene also decided to demand an ESCROW amount that exceeds the ***** legal limit and inappropriately held my payment from HAF in a suspense account. ******** helps to fix your credit, but that is opposite of what Selene want to do in order to steal my home.How is it that there are over 300 complaints on the BBB website, that are very similar & you even state that the volume of complaints is so excessive that only 30% appear online. Don't you think federal banking agencies or the *** need to be involved?Selene Finance DEFLECTS any accountability, failure to properly address issues and misstating facts. They are the corporate embodiment of a narcissist: deflection, projection, gaslighting, minimization, victim-blaming, and diversion.
Business response
06/03/2024
Attached is Selene's response to the mortgagors complaint.
Thank you,
Executive Resolution Team
Customer response
06/03/2024
I am rejecting this response because: the response that was sent, was the same sent to the state of ** DOBI. I have since received additional assistance from another organization that proved that Selene Finance indeed made a mistake in their disclosures to the ** HMFA. I would appreciate more than an apology. They apologized after failing to pay my real estate taxes for the first 9 months of servicing my mortgage, then they fail to properly disclose my escrow for ****/HAF... despite months of communicating with them directly and even thru the ** DOBI. I did not sign up for emotional distress, time wasted on phone calls, writing letters, research, having my credit destroyed by a program meant to be helpful when times were tough - all because of a clerical error. Individuals don't get to just say "sorry".
Business response
06/13/2024
Attached is Selene's response to the mortgagors complaint.
Thank you,
Executive Resolution Team
Customer response
06/17/2024
I am rejecting this response because: I received a similar letter via email last week. To be clear, as I have previously stated, Selene Finance the corporate embodiment of a narcissist: deflection, projection, gaslighting, minimization, victim-blaming, and diversion.

Their most recent correspondence completely contracts all of their prior correspondence. To be CLEAR, when NJ-****/*** requested information from Selene about my mortgage and ESCROW at the end of July 2023, Selene Finance failed to disclose that there was a shortfall in my ESCROW as of August 1, 2023. The error was only discovered the end of May by the Director at the Consumer Credit & ****************************** that works with the State of NJ and the federal government. The individual reached out to NJ-*** and I was told they discovered this mistake. NJ *** provided Selene Finance with a check for $8144.89 and was instructed to apply it towards my ESCROW.

However, Selene has not properly applied those funds to my account. They are still holding ~ 1 payment in a suspense account. They DID JUST recalcluate my ESCROW and stated that my new monthly payment will be $3067.66.

The most recent correspondence from Selene Finance shows that Selene has a completely NEW narrative than all of the prior corrrespondence:
1.They still fail to acknowledge that the clerical error was THEIRS in July/Aug 2023.
2.They state that unbeknownst to SELENE, I applied for *** funds in September 2023; the *** determination was made at the same time as **** in July/August 2023. I was told in August that I qualified and would receive assistance with my mortgage payments for a total of 8 months to get my account current and that I would not need to make a mortgage payment until Feb 1, 2024. However, Selene seems to continue to tell me that it was my obligation to pay.
3.They stated that my ESCROW was calculated for and increase as of November 1, 2024 due date (they actually recalculated it on the 1 year anniversary of their servicing my account. Out of the 4 payments covered by ***, Selene somehow managed to obtain 50% of those payments at the higher payment of $3633.25 (I was repeatedly calling Selene and NJ ***). This is when they decided to hold one of the payments hostage in a suspsense account yet never disclosed what was going on when I kept calling them to ask why it looked like my payments were behind. Only NOW they are stating they contacted NJ *** on my behalf. My municipality provides the updated tax bill in July of each year. Selene had adequate time to not only ask for the shortfall BUT was able to ask for an INCREASE (if necessary) and the ESCROW could have been paid by the ****/*** funds at that time.
4.In the 17 years that Ive had my mortgage, my monthly payments never went up more than ~ $200/yr. When I kept asking Selene to explain how my payment jumped from $2911.96 to $3633.25 (a difference of $721.29) at no point in time had they said there was a shortage from the prior year. I have provided the real estate tax amount along with the homeowners insurance information Selenes numbers were not making sense nor were they providing any explanation. In January 2024 called in and asked Selene for explain their ESCROW calculation and nothing ever came back.
5.For March, April and May, I sent Selene payments via check with a letter stating that until the ESCROW situation was resolved, I was only going to pay the principal and interest ($1239.68) on my account. For ***** I mailed $3000. As the loan servicer, it is their obligation and responsibility to provide the information requested. Note that despite all of the correspondence with the BBB, Federal and state agencies, Selene STILL did not explain the ESCROW ever having a shortage. I specifically asked why they were asking me for an excess of $8655 to which they NEVER responded until NOW.
6.As of now, Selene is still holding $2930.09 in a suspense account. They are holding $4017.30 in ESCROW for a grand total of $6947.39 which more than 2 months of paymens towards my account. They are intentionally keeping me as a LATE PAYOR. They are cherry-picking their rules and payment policies. Lets not forget that in prior correspondence, they said that individuals could make partial payments online and that too, is false.
7.Selene has refused to take any responsibility for this mistake to me, to you, to any other agency that has communicated with them and more importantly the CREDIT REPORTING AGENCIES.

I am scratching my head with disbelief. Not only with Selene but with the BBB because there are so many NEW complaints against SELENE that have posted on your website. When I spoke with a representative today at the Consumer Credit & ****************************** today, he told me he has seen how Selene finance has intentionally taken advantage of consumers who were utilizing **** and *** funds to foreclose on their homes and/or to try to compel the state agency to pay Selene additional $ to avoid foreclosures. Ive read complaints online that Selene becomes aggressive once they realize someone is experiencing a hardship. There is a housing crisis, and the economy is fragile for many people. However, it seems that rogue players in this space are the mortgage servicers who do not fall under any state or federal agency jurisdiction.

I am laying all of this out because I have been in touch with my US ******************** I will continue to forge forward for the truth and doing what is RIGHT. I have also been in contact with several national news organizations investigative units and will be sending them a copy of this letter.

I implore you to do more than serve as a mediator. The BBB states:

Vision: An ethical marketplace where buyers and sellers trust each other
Mission: BBBs mission is to be the leader in advancing marketplace trust. We do this by
Setting standards for marketplace trust
Encouraging and supporting best practices by engaging with and educating consumers and businesses
Celebrating marketplace role models
Calling out and addressing substandard marketplace behavior
Creating a community of trustworthy businesses

BBB sees trust as a function of two primary factors integrity and performance. Integrity includes respect, ethics, intent, and working toward a diverse, inclusive and equitable marketplace. Performance speaks to a businesss track record of delivering results in accordance with BBB standards and/or addressing customer concerns in a timely, satisfactory manner.

Please do your part by calling out and addressing substandard marketplace behavior. If Selene has had complaints since 2010, how are you helping to ensure that SELENEs track record aligns with marketplace trust and trustworthiness? I guess, since consumers dont have a choice in who services their mortgage, one is to assume that Selenes ABUSE is justified?
Initial Complaint
05/17/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Account#********** Our loan was recently sold and Selene became our new loan servicer effective 4/10/24.Our April payment was made to ******* Funding on 4/5/24.We made our first payment to Selene on 5/7/24, which also cleared on 5/7/24.I logged into our account and the following fees, dated 4/19, are showing due for our account.$628.11 Late Fee $15 Returned check fee How have we incurred an NSF and late fee from 4/19/24, when we just made our first payment to Selene on 5/7/24? My bank records do not reflect any rejected transaction on 4/19/24 nor should there have been any attempt to process a transaction by Selene on 4/19/24. Not to mention our banking information was not provided until we made our first payment on 5/7/24. We have made numerous attempts to speak with a representative and continuously get disconnected. The one time we were able to speak with someone he could not give an explanation for the fees and advised us to send an email to ******************* The only response we have received is an automatic reply that our email was received.
Business response
05/30/2024
Please see attached response.
Initial Complaint
05/16/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I am sending this request because I am have called this company since Feb 2024 to correct my payment for Jan 2024 and as of May 16, 2024nd the problem is still open. This been going on to long and when I called the company same thing we will look into and nothing. May 16, 2024 was the worse I was rushed off the phone and the tone of the customer service representative did not care about my issue and this been since Feb 2024, please can someone reach out to the *** or CFO to see if they can help me with this problem
Business response
05/28/2024
Please see attached response.
Initial Complaint
05/08/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I was 7 months delinquent with my veterans affairs mortgage loan with Selene finance.I was in contact with them tirelessly from Mar 23 thru Aug 23 requesting assistance/loan modification.I was denied and the appeal was denied.Finally in August 23 they offered me a Partial Claim thru the veterans affairs.Why did they wait till I was 7 months delinquent on my VA backed mortgage payments to offer the partial claim option to me....when it was an option the entire time through the delinquent period, unaware to me of this option.
Business response
05/31/2024
Dear Dispute Resolution Department:

Please see the attached response.

Thank you,
Executive Resolution Team
Selene Finance LP
Initial Complaint
05/05/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
My mortgage was purchased by this company from another lender. I temporarily fell behind on my mortgage payments, so I was referred to their loss mitigation department for a possible resolution.The only offer they proposed was to shorten my mortgage length and nearly double my interest rate. This will result in approximately doubling my payment. I explained this was a temporary situation that will soon be resolved and that I was only seeking a deferment of the past due payments.They also only allowed me one day for review of the modification documents. Obviously, they were hoping that I would sign just to get the deferment and not look at the fine print.This is predatory lending at its finest. Once again, the consumer gets screwed again by big business. They simply want to force me out of my home so they can sell it off at its current value which is twice what the current mortgage is.
Business response
05/23/2024
Attached is Selene's response to the mortgagors complaint.
Thank you,
Executive Resolution Team
Customer response
05/23/2024
This is the response that I was expecting. They will do nothing. On May 9, 2024 I mailed out a payment of $3000.00 for five (5) payments and of course I keep trying to contact them via email at ************************************************** and of course there is no response from them. After numerous attempts via phone and numerous hours wasted waiting on hold or getting a customer service representative that can barely speak English and is of no value because you can't understand them, I did finally reach someone and inquired as to why the payment had not been credited to my account yet since it had been 12 days since I mailed it and the response was "we don't have it, it is probably lost in the mail". So, since then I have probably incurred more late fees and probably another "property inspection fee" which is another complete joke.
This company is simply in the business of forcing people from their homes through excessive "fees" so they can then sell the home for a large profit and make more money. It's the new American way. At this point I could care less what Selene Finance has to say on this matter, they are a s***** company run by a bunch of greedy a******* that destroy lives. I will continue on with my complaints with the Michigan ************************* as well as the ******************* of ********* and ********* Services. I pretty much knew what the outcome would be after simply reading all of the horror stories online about Selene Finance and their predatory lending practices.
Customer response
05/24/2024
I am rejecting this response because:
This is the response that I was expecting. They will do nothing. On May 9, 2024 I mailed out a payment of $3000.00 for five (5) payments and of course I keep trying to contact them via email at ************************************************** and of course there is no response from them. After numerous attempts via phone and numerous hours wasted waiting on hold or getting a customer service representative that can barely speak English and is of no value because you can't understand them, I did finally reach someone and inquired as to why the payment had not been credited to my account yet since it had been 12 days since I mailed it and the response was "we don't have it, it is probably lost in the mail". So, since then I have probably incurred more late fees and probably another "property inspection fee" which is another complete joke.
This company is simply in the business of forcing people from their homes through excessive "fees" so they can then sell the home for a large profit and make more money. It's the new American way. At this point I could care less what Selene Finance has to say on this matter, they are a s***** company run by a bunch of greedy a******* that destroy lives. I will continue on with my complaints with the Michigan ************************* as well as the ******************* of ********* and ********* Services. I pretty much knew what the outcome would be after simply reading all of the horror stories online about Selene Finance and their predatory lending practices.

Business response
06/14/2024
Dear Dispute Resolution Team,
Attached is Selene's response to the mortgagors complaint.
Thank you, Executive Resolution Team
Initial Complaint
05/02/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Selene purchased our mortgage from our previous servicer, Specialized Loan Servicing, and took it over at the beginning February. Believing we were still with SLS, we made our January and February payment to them on February 2nd. We did not receive notification of the transference at all from Selene until we received a letter stating we were delinquent in March. We contacted our old loan servicer and they have stated they sent the payment to Selene on February 6th. However, Selene denies receiving these funds and will not allow us to make further payments until we are current.We have been calling weekly after our dispute was made. Each time they tell us they are investigating and need 7 more days each time. We have provided them with wire transfer check number from the transfer SLS performed and have not had any resolution with them locating the payment they were sent. With the late fees, we are being effectively extorted and punished for something thats is not our fault. In the meantime, they have offered a modification at double the interest rate at half our fixed monthly income. This is predatory against seniors and Selene has failed to bring this issue to a resolution and make an effort to locate the missing payment to resolve this even though all needed information for tracking has been supplied repeatedly.
Business response
05/09/2024
Please see attached response.
Initial Complaint
05/02/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
********************** does not have an option to speak to a rep. ********************** has locked me out of my online account and there is no way to remedy this because I cannot speak to someone. I attempted to reset my account but the system will not allow it. Both phone messages from Selene and their website askes that I call and/or use my online account. However the servicer has a system that will not allow either ways to pay my mortgage or access my information. I want my account unlocked and the servicer should have an option to speak to a rep so homeowners can find solutions to questions and concerns. ********************** makes it difficult to manage one's account.
Business response
05/16/2024
Dear Dispute Resolution Department:

Please see the attached response.

Thank you,
Executive Resolution Team
Selene Finance LP
Initial Complaint
04/22/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Selene finance continues to hold mortgage payments made by MD HAF on my behalf. Threatening foreclose with inaccurate paperwork amounts etc.They said they did a loan modification but they did not. They just accepted money assistance on my behalf from HUD. Never attempted to lower my mortgage payments that could be done in a loan modification.They denied all request for a loan modification. Waited until I was 7 months delinquent to advise me of a HUD Partial Claim when that option was available, unknown to me, the entire time.Inaccurate escrow information based on what they think, not what's actually based on MD States assessment.Poor customer service. Any letters etc I send to them they do not answer the questions..rather circumvent around my question.This company should be sued and put out of business
Business response
05/07/2024
Dear Dispute Resolution Team:

Please see the attached response.

Thank you,
Executive Resolution Team
Selene Finance LP
Customer response
05/08/2024
I am rejecting this response because:

Selene finance never told me why I did not meet the modification loan reduction.

They continue to circumvent my questions.

MD HAF confirmed on May 3, 2 payments were made via ACH to them in late Mar. They also indicated they have to date not recieved acknowledgement from Selene finance of recieving those two payments.
Selene finance said they would reach out to their HAF office and contact me. They have not to date
Business response
05/17/2024
Dear Dispute Resolution Department:

Please be advised additional time is required to complete our research.

Thank you,
Executive Resolution Team
Selene Finance LP
Business response
05/17/2024
Dear Dispute Resolution Team

Please see the attached response.

Thank you,
Executive Resolution Team
Selene Finance LP

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