Selene Finance
Reviews and Complaints

Loan modification denial... Here are your best moves

The term “loan modification” has become a household word over the last 8 years. Spurred by the financial crisis and housing meltdown, the era of modifying mortgage loans has lingered on at a very high rate. This particular era is something that nobody wants to deal with…the banks, homeowners, government & taxpayers all wish to exult the problems surrounding distressed mortgages. However, these problems are far from over. Many leading economists have predicted that nearly 11 million mortgage loans are headed into foreclosure. Failed government programs, weak loan modification deals, mortgage loan servicer abuse & rising home equity lead us into a new upcoming disaster zone. Understand that there was a long period of foreclosure stagnation from 2008 to 2012. Economic calamity amongst the banks and federal government litigation stalled out the process over 4 years. This period caused a massive log jam of home owners that are severely delinquent on their mortgage loans. Banks are now working through the log jam, profiling each homeowner to determine from a collection level.

These banks are essentially operating like collection agencies, since they are dealing with large volumes of defaulted loans. These banks / collection agencies are not the operations of yore. They are smarter, more technologically advanced and more efficient than even.In this new age of the internet, they are able to socially & financially profile anyone very quickly. They know what you earn, how much money you have in the bank & what assets you hold. Simply thinking you can hide information from them is wishful thinking. The home owner’s social and financial profile is the number one reason people are denied for loan modifications.

Ok, so now what? Since the loan modification has been denied, the bank / collection agency will likely proceed with foreclosure action. At this point, blocking the foreclosure action with the only effective strategy. The “best offense is an excellent defense” strategic planning will be the only method to proceed with at this stage. Many folks feel that they can simply reapply, call free government counseling services or write simple dispute letters to the bank / collection agency.
All of these methods are a waste of time and are not effective in creating leverage. If you proceed aggressively by stripping down the validity of the debt or filing effective fair debt collection practices act (Fdcpa) complaints, you will gain traction by creating leverage. Filing a 92 point complex qualified written request is also an excellent maneuver.

If the opposition fails to file respond to remain in compliance with respa, you can proceed with a motion to compel. This motion has a case record of extinguishing foreclosure activity within the courts. Also, if you feel that you have been abused through payment misapplication or escrow padding, you can audit a payment ledger and file the necessary fdcpa complaints. You see, since all banks and collection agencies are collecting money for an investor, they need to abide by the fdcpa.

Long story short, if you are able to go through the trenches and battle your lender, eventually they will offer you a deal. Though it is a brutal process, it is very effective. We have executed on the above listed strategy for our clients for over 14 years. We have saved thousands of homes and settled large volume debts in the process.

Feel free to call us at 1.877.297.7011 for further insight on this topic.

I tried to make a payment of $1565 over the phone to escrow; customer service told me I had to pay $12 service fee if they took the payment. It didn't matter that their online payment is set-up for you to make your monthly payment and then add the amount you want to for escrow. My monthly payment is automatically paid thru my Credit Union, so I sent a $1565 check to Selene to be applied to my escrow account. Below is a copy of how they applied the check, note that my escrow account still have a negative balance.

Payment History AC... [protected] BRENDA ST NW

Tax and Interest Summary

From To
27 May 2019 27 Aug 2019

Date Amount Description
19 Aug 2019 $344.32 Principal Payment
19 Aug 2019 $610.34 Payment
19 Aug 2019 $610.34 Payment
08 Aug 2019 -$1, 342.25 Insurance Disbursement

I paid my December 1st house payment on November 20th through the bill pay service of my Wells Fargo bank. I received a late notice at the end of December that said I never paid my mortgage payment. I called Selene and told them the check was mailed on Nov 20th. I sent documentation from my bank that this was true. I cancelled the check and had reissued payment. Selene would not remove the late charge even after I filled a dispute and provided written proof that I payed on time. There answer to my dispute was simply a letter stating they had received a correspondence from me. I do not know what to do. I feel like they intentionally did not cash my check so they could make money off charging me a late fee.

Hello Putt79,

While I am sorry for the abuse that you have suffered at the hands of Selene Finance after your mortgage was transferred from Bank of America, you might be surprised to learn just how easy it is to fix a problem of this nature. In order to resolve your issues, you simply need to prepare a Qualified Written Request (QWR) and attach both the modification agreement along with proof of payment per the modified terms to Selene Finance as well as the CFPB.

You have overlooked a key aspect to your fight, which is putting your valid objections and servicing abuses in writing in the form of a proper QWR and attaching proof your consumer and Constitutional rights; they have certainly been violated in this case as I see it. All of the mortgage lending and debt collection companies, including Selene Finance, MUST answer your Qualified Written Requests (QWR) and if they refuse to then you take your fight to all the regulatory agencies outside of Selene that assist in fighting for your rights like the CFPB; it’s a shame that these more than profitable and previously bailed-out companies engage in this type of consumer abuse.

I routinely look for posts to answer in hopes that it will not only bring optimism to those homeowners and borrowers in distress but also some basic information to assist in fighting the banks that are "too big to fail" but yet don't appreciate the bailout that we provided in their time of need. The debt collectors like Selene, SPS, SLS, Green Tree, Ocwen and Nationstar are simply just piranhas but they can be beat at their own game too just like the big banks can be defeated. You CAN win this fight!

We would be more than happy to educate you as to how to fight for your rights. My firm routinely seeks out complaints online so that we can educate as to how to fight back on our weekday show called "The Daily Complaint” where we review a complaint and how to tackle it successfully.

We reviewed your complaint on the show if you would like to listen, visit www.TheDailyComplaint.com

You can learn more by visiting the CFPB's website and becoming educating about the rights afforded you under the FDCPA, Dodd-Frank and RESPA via the CFPB. Let me point out that Green Tree has violated your rights under the CFPB's new mortgage servicing rules as afforded you via the Dodd-Frank Act. Here is a link to the new rules: http://www.consumerfinance.gov/newsroom/consumer-financial-protection-bureau-rules-establish-strong-protections-for-homeowners-facing-foreclosure/

In the event you have further questions, you can contact me via email at Dana@ConsultingEND.com or via the website at www.ConsultingEND.com or via phone (my full contact information is below) as I would be more than happy to contact Selene on your behalf or with you to determine the status of your loan as well as what options exist for you as a borrower/homeowner!

Every new beginning comes from some other beginning's END

Respectfully,

Dana Shafman
Managing Member
END Consulting
[protected] Ext 101
Dana@ConsultingEND.com
www.TheDailyComplaint.com

There is a facebook page, and write to the Texas States Attorney, as well as the FEderal trade commission and the BBB all together, our voices together can get these crooks out of business, https://www.facebook.com/SeleneFinanceComplaints/timeline

I currently have a major issue with Selene Finance. A month ago I got a call from a Daniel Ellis regarding a loan modification. I was then given to a Roudy Sebastian who then proceeded to tell me that I was approved for the loan modification. However first I needed to go to Walmart get a MasterCard and put $600.00 for he first mortgage payment. I was told that if I wanted to cancel the modification I would get a “FULL REFUND”. I did what they asked then when I called back the following week to see why I had not received any paperwork to sign in agreement with the modification. Sebastian said I would not get a contract due to federal regulations but then sent me a text message laying out the modification. Being suspicious I contacted Selene Finance in an attempt to confirm that those two were employed with Selene, response per John they were not employees. Even though a couple of calls came on Selene’s lines. I cancelled the modification first part of October 2020 with Daniel Ellis, he gave me to another person to confirm. Two weeks had not received my money. Called Sebastian go to Walmart get American Express card for $110.00 (fees?) and I will get my Money plus the $110.00, I did that. Then I am told that there were 5 red flags on my FICO, they cleared 2 but I needed to clear 3 and pay $450.00 which would also be refunded, I didn’t have that money, then it went down to $350.00. Argued that this was never disclosed to me ref FICO in order to get my refund. We argued for a while and Sebastian said that he would have the finalization dept Calle me. A Robert Brown, mgr of that dept and repeated the same thing and I again said I don’t have that money. He said can you borrow from family and friends, no I just want my $710.00 back. I then told him to pay the $200.00 from his pocket. He said if I didn’t pay that and he money went into the accounting dept I would NOT get it back, also said he would have Sebastian call me back he never did. This morning 11/5/2020 I called was advised by Daniel Ellis that Robert Browm paid the $200.00 BUT I still had to pay $200.00 and in return I would get $910.00 back I refused to give these fraudulent people any more money so now I am out $710.00 and I live on a disability retirement. Selene has NO number for he corporate office. My loan was sold to Selene finance from Wells Fargo. I also recorded my phone calls with he manager and with Daniel Ellis this morning. Something needs to be done about this company they have a D+ rating with BBB, and complaints can be addressed to FBI mortgage dept fraud, or he New York department of Financial services [protected] fax [protected]. Love to get a class action lawsuit against the fraudulent company !

@lalarson - not doubting you because anything is possible with Selene Finance... But, the situation you describe, doesn't make a lot of sense. If you are confused & are not able to find any answers yourselves, you may want to consider hiring an attorney that specializes in these situations. As for Selene Finance... they are sly! They will not only bulldog people, but will lie & attempt to pull any fast blinds on you, especially if they feel you are knowledgeable when it comes to situations such as this! Get yourself an attorney!

Yes we should do somthing about this company cant stand this company .. .. they put me thew hell and back trying to get a modafacation, they never return my calls and they lied about a package that i sent then they said they never recived it ... when actally they signed for it and then they told me they never got it...but fedex comform they got it ... they gave me the run around kwning i wus limited on this modafacation we hire a attorney so we could get more time it just seemed that they didnt care it wus more like they were giving us the run around so we could lose our home they dont care they are very rude and they just want your home... please email me if anyone has any info or knws of a law suit pending on them thank you ... jewel6971@yahoo.com

Our post, may not address each complaint directly, but we are trying to spread the word on this horrifying company & hopefully, someone will pay close enough attention & karma will come knocking at Selene Finance's doors.

SELENE FINANCE should be thoroughly investigated on every level possible & every one of the loans it holds, it's banking practices & beyond, audited to the fullest at the highest level possible!

To mortgager's that have become victims of SELENE FINANCE (or your loan was sold to them - if sold to them, you are now a victim of their horrifying practices) ---- hopefully you will find the below information helpful, if not all, maybe some helpful. Selene Finance is, and if not yet, will be the worst company you will deal with!

Make a long story short - they thrive on you NOT paying your mortgage! Yes, the make money off of fee's. They have a set of fee's that they have made up themselves. You don't pay, you'll see what's called "Corporate Advance Fee's" & these fee's can be anything they wish them to be. They also buy up troubling mortgage loans pennies to the dollar! You would be floored to learn what they actually paid to obtained your loan - it's sickening (this information provided with proof via documentation from an inside source of the company) They make the most money on the fee's they apply to your loan. IF you pay your mortgage & they are not able to continue to add their fee's (and they come up with some doosy's, that's for certain) they will then sell off your loan because if they can't apply fee's to your mortgage, they are losing money! Their fee's, they should be against the law & furthermore, investigated at the highest level!

But ----- First, to try & avoid the woe with Selene Finance's piss poor customer service, their fee's, their harrassment if they don't see your payment in by the 1st (you do have a legal 15 day grace period but they ignore that) they will call you, they will call your family members, they will even call your work... they are the epitome of harassment when it comes to the word! Selene Finance loves to add up the fee's on your mortgage too & make sure you document each & every time you may imposed each fee! Simply put though, if at all costs, try your best to just move up your due date (a mental/physical note, really) on your mortgage payment to allow for room for emergencies & such. If you're not late, they will get rid of you & be glad they do!

Secondly, as for those that have contacted the BBB, Selene is not BBB accredited so you are wasting your time & nothing is being done really to get the proper attention on this company that needs to be. Do better than the BBB (Selene Finance LP isn't a BBB accredited company anyway) - Contact your local Attorney's General Office, the Federal Trade Commission, your local government officials, Selene Finance's local government officials (Houston Texas - Selene Finance's main office) & contact the Attorney Generals office where Selene Finance is located (Houston Texas).

Thirdly, it never hurts to speak with an attorney if it ever gets to that point. Educate yourselves as thoroughly as possible. Selene Finance, is a strange run company & they will take advantage of those that lack appropriate knowledge with regards to their mortgages. By all the statements & complaints all over the place, this company should not be able to remain. Their customer service is awful & they will hound you horribly if you do not pay your mortgage on time. They will apply fee's to your mortgage, as mentioned before... lots of them, at their own discretion! Keep very close track of those fee's too!

Bottom line, don't give them a reason to make life miserable on you. By bumping up your mortgage due date, mentally & physically, you will save yourselves a lot of heart ache. Plus, once they see you appear to pay on time & regularly, you are of no good to them & they'll sell your loan because they are not interested responsibly payers.

And GAWD for bid... stay away from them Forbearance program! Do NOT fall for their tricks! Sell your home before you let them talk you into their Forbearance crap! Just research, you'll learn very quickly how many people have been taken for a ride with Selene's forbearance programs.

If you do not pay your mortgage with Selene, they will send out a privately hired vendor (inspector/spy) to inspect your property. Know your rights! These thugs will try to tell you they need to access the interior of your home along with walk around & inspect the property. You do NOT have to let them in your home, nor allow them on your property. In fact, you can, by law, ask them to leave your property & never return on the premisses. Talk to your local county police department as laws may vary slightly state to state. But... even though, after asked to leave, they will sit on the roadway, take photos of your property & even go as far as to sitting down the road to see if there is activity at the residence (they will also attempt to sneak around on your property which is illegal). Basically - Selene Finance actually hopes you vacate your property because they can then take ownership of it, change the locks & claim it was abandoned. What ever you do, do not give them this opportunity. Rent your place out if you can not afford it! Do not just leave it unoccupied!

Lastly.. pay your mortgage. If you just are not able to afford it, time to consider selling is truly in your best interest. Hardships are awful & some just can't find a way out of them. There are options, but the willingness to exercise those options will make or break your future as a home owner.

BEST OF LUCK to all that are with Selene Finance. We are no longer with them, THANK GAWD! We refinanced with another company & we're sorry we didn't do so a long time ago! If you are able, refinance & get away from Selene Finance.

This company, SELENE FINANCE, deserves the highest level of an investigation into every single one of the mortgages they hold & have sold to other companies! They are committing fraud & it's just a matter of time! Hang in there in there folks :) There is light at the end of the Selene Finance torrential tunnel!

Our post, may not address each complaint directly, but we are trying to spread the word on this horrifying company & hopefully, someone will pay close enough attention & karma will come knocking at Selene Finance's doors.

SELENE FINANCE should be thoroughly investigated on every level possible & every one of the loans it holds, it's banking practices & beyond, audited to the fullest at the highest level possible!

To mortgager's that have become victims of SELENE FINANCE (or your loan was sold to them - if sold to them, you are now a victim of their horrifying practices) ---- hopefully you will find the below information helpful, if not all, maybe some helpful. Selene Finance is, and if not yet, will be the worst company you will deal with!

Make a long story short - they thrive on you NOT paying your mortgage! Yes, the make money off of fee's. They have a set of fee's that they have made up themselves. You don't pay, you'll see what's called "Corporate Advance Fee's" & these fee's can be anything they wish them to be. They also buy up troubling mortgage loans pennies to the dollar! You would be floored to learn what they actually paid to obtained your loan - it's sickening (this information provided with proof via documentation from an inside source of the company) They make the most money on the fee's they apply to your loan. IF you pay your mortgage & they are not able to continue to add their fee's (and they come up with some doosy's, that's for certain) they will then sell off your loan because if they can't apply fee's to your mortgage, they are losing money! Their fee's, they should be against the law & furthermore, investigated at the highest level!

But ----- First, to try & avoid the woe with Selene Finance's piss poor customer service, their fee's, their harrassment if they don't see your payment in by the 1st (you do have a legal 15 day grace period but they ignore that) they will call you, they will call your family members, they will even call your work... they are the epitome of harassment when it comes to the word! Selene Finance loves to add up the fee's on your mortgage too & make sure you document each & every time you may imposed each fee! Simply put though, if at all costs, try your best to just move up your due date (a mental/physical note, really) on your mortgage payment to allow for room for emergencies & such. If you're not late, they will get rid of you & be glad they do!

Secondly, as for those that have contacted the BBB, Selene is not BBB accredited so you are wasting your time & nothing is being done really to get the proper attention on this company that needs to be. Do better than the BBB (Selene Finance LP isn't a BBB accredited company anyway) - Contact your local Attorney's General Office, the Federal Trade Commission, your local government officials, Selene Finance's local government officials (Houston Texas - Selene Finance's main office) & contact the Attorney Generals office where Selene Finance is located (Houston Texas).

Thirdly, it never hurts to speak with an attorney if it ever gets to that point. Educate yourselves as thoroughly as possible. Selene Finance, is a strange run company & they will take advantage of those that lack appropriate knowledge with regards to their mortgages. By all the statements & complaints all over the place, this company should not be able to remain. Their customer service is awful & they will hound you horribly if you do not pay your mortgage on time. They will apply fee's to your mortgage, as mentioned before... lots of them, at their own discretion! Keep very close track of those fee's too!

Bottom line, don't give them a reason to make life miserable on you. By bumping up your mortgage due date, mentally & physically, you will save yourselves a lot of heart ache. Plus, once they see you appear to pay on time & regularly, you are of no good to them & they'll sell your loan because they are not interested responsibly payers.

And GAWD for bid... stay away from them Forbearance program! Do NOT fall for their tricks! Sell your home before you let them talk you into their Forbearance crap! Just research, you'll learn very quickly how many people have been taken for a ride with Selene's forbearance programs.

If you do not pay your mortgage with Selene, they will send out a privately hired vendor (inspector/spy) to inspect your property. Know your rights! These thugs will try to tell you they need to access the interior of your home along with walk around & inspect the property. You do NOT have to let them in your home, nor allow them on your property. In fact, you can, by law, ask them to leave your property & never return on the premisses. Talk to your local county police department as laws may vary slightly state to state. But... even though, after asked to leave, they will sit on the roadway, take photos of your property & even go as far as to sitting down the road to see if there is activity at the residence (they will also attempt to sneak around on your property which is illegal). Basically - Selene Finance actually hopes you vacate your property because they can then take ownership of it, change the locks & claim it was abandoned. What ever you do, do not give them this opportunity. Rent your place out if you can not afford it! Do not just leave it unoccupied!

Lastly.. pay your mortgage. If you just are not able to afford it, time to consider selling is truly in your best interest. Hardships are awful & some just can't find a way out of them. There are options, but the willingness to exercise those options will make or break your future as a home owner.

BEST OF LUCK to all that are with Selene Finance. We are no longer with them, THANK GAWD! We refinanced with another company & we're sorry we didn't do so a long time ago! If you are able, refinance & get away from Selene Finance.

This company, SELENE FINANCE, deserves the highest level of an investigation into every single one of the mortgages they hold & have sold to other companies! They are committing fraud & it's just a matter of time! Hang in there in there folks :) There is light at the end of the Selene Finance torrential tunnel!

Ive owned my house 14 years now and Selene is the most heartless Lender around
They have charged this year over $5000 in bk fees 4 month after my BK dismissed.
They have charged over $11k this year in CORPORATE FEES! Ignore my written requests or acknowledge receipt however never call or email me

@Unhappy Selene Client

Contact the Federal Trade Commission, your local & abroad, Attorney General's offices & put in a complaint. You'll need to do so in writing.

Selene Finance is awful & they need to be investigated thoroughly!

Good luck to you!

Selene Finance
We have experienced terrible customer service from Selene Finance.
Our loan was transferred from Flagstar Bank to Selene Finance in January 2013. Selene has all of the information to pay homeowners insurance, flood insurance, and property taxes. So far, they missed the flood insurance premium. I paid it myself even though the escrow account has plenty of money. Then the home owner's insurance premium came due on March 8, 2013. Selene has made no effort to pay it. I called them & they told me that they would send out a check. Our homeowners insurance was in process of being cancelled and would have been if I had not called & made a partial "by phone" credit card payment. Selene has been sent two copies of the Declarations Page by the insurance company for homeowners insurance and today they asked for an immediate fax to provide a 3rd copy. Selene agreed to pay the full premium due & left me with the responsibility of applying for a refund of the partial payment for insurance.

I would like to elevate my complaint but have not found an address for someone with authority to do anything about poor customer service by Selene Finance.