Selene Finance

Revdex.com:I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint [Provide details of why you are not satisfied with this resolution.]Regards, On behalf of Selene Finance response. On the second paragraph regarding late fees being assesed on the account if payment not received by end of every 15th calendar day is not what their statement reflects. My monthly statements from Selene Finance reads "if payment is received after the 16th calendar day, a maximum of $late fee will be charged. I would be more than happy to forward a copy of all my statements providing this information from Selene Finance as the phrase on their second paragraph is contridicting to their actual statements going out to their clients.
As for them not participating in electronic fund transfers is understandable. However, my bank states they print the check 4-business days prior to the date set up through my bill pay and which they are willing to provide such proof of payments sent. I have never had this problem with any other company who also does not accept electronic fund transfers
Yes we registered an online account for Selene Finance on September 12, 2014. However we could never access this account until I spoke with a represenative on February 17th, regarding past payments and how unfriendly their website is. Which at that time she provided me with help to access the website. Also when talking to customer service on two occasions an email to the finance manager was supposedly sent on our behalf and a someon was suppose to contact us regarding our account in which neither time have we been contacted
If you need any further information regarding something from my banking institution or the copies of Selene Finance statements please let me know
Sincerely,
*** and *** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution would be satisfactory to me
Although they fail to mention I was talking to my so when *** came on the phone and was unable to hear her, or the fact that I asked her at least separate times and then once her manager was on the line she stated here my name is *** so you can complain about me in a nasty toneThey also failed to mention the fact that not once did I ask to make a payment over the phone other than by credit card and they failed to listen to me to try and rush me off the phoneI appreciate they finally have accepted responsibility for the errors on their end that my grandparents and I were at points blamed forIf we have further issues we will again file a complaint as well as escalate our complaints from here on out

RE: Revdex.com Case #***
RE: *** *** and *** ***
Selene Loan Number: ***
Dear Dispute Resolution Team:
Please find enclosed the response to the borrower's dispute surrounding their mortgage loan. A copy of the
replyhas been forwarded to the ***'s by mail
Sincerely,
Customer Service Department
Selene Finance LP

September 28,
justify;">
Revdex.com
West Loop South, Suite Houston, TX
Re: Revdex.com Case Number: ***
Loan Number: ***
Borrower: *** ***
*** *** *** ** *** ***
*** *** ** ***
Dear Revdex.com:
Selene Finance LP (“Selene”) received your correspondence on September 19, and September 28, 2016, on behalf of *** *** regarding her above referenced mortgage loan and her requests loss mitigation assistance under the Home Affordable Foreclosure Alternative (***) Program
Based on a review of our records on August 25, 2016, *** *** Single Point of Contact, *** Jones, contacted her and informed her of the August 30, foreclosure sale date. Additionally, we advised *** *** that we required a complete loss mitigation package to complete a review of the loan for a potential non-retention option
On August 26, 2016, *** *** contacted our office and indicated that her loss mitigation application had been submitted to us for review. However, we did not receive *** *** application until August 30, 2016.
Unfortunately, the foreclosure sale of the property occurred on the same day, August 30, 2016, and as a result, we were unable to initiate a loss mitigation review of the loan for a potential non-retention workout option.
On September 1, 2016, MsJones attempted to contact *** *** and advise of the determination, however, her attempt was unsuccessful. Subsequently, *** *** contacted our office and was advised that we were unable to proceed with the review for a potential Deed In Lieu of Foreclosure
Last, we apologize for the incorrect information relayed to the *** *** *** *** by way of letters dated September 14, 2016. Specifically, our letters indicated that upon receipt of *** *** loss mitigation application, we initiated a review of the loan and determined she did not qualify for a non-retention option. Rather, as indicated above, a review was not initiated because the foreclosure sale occurred on the same day we received the loss mitigation application.
We regret we are unable to overturn any previous decision. Should *** *** have additional concerns or need further assistance, she may call our Loan Resolution Department toll free at (877) 768-
Sincerely,
Samuel W***
Customer Service Specialist
Selene Finance LP

Selene Finance will call you if you are less than days late on your mortgage payment, even if you have a good history of paying your mortgage payment The major reason the payment is "late" is because they do not have an effective online banking service I make the payment sometimes at the 1st of the month and because they cannot accept immediate electronic deposits from my banking institutionmy bank will mail them a check So between the wait time for the bank to process the request from me to send a physical check and for the USPS to deliver the check and for Selene Finance to process the check, it becomes close to the day grace period I purchased my home May and have had different mortgage companies I am not very pleased with Selene Finance's methods of customer service and if I had a choice I would have never gotten a mortgage with them

This company is in the business of giving mortgage holders the ultimate runaround
with loan modification procedures I spent considerable sums faxing them necessary
documents, but, however much I sent, it was never enough After the 4th time of
sending everything they requested, I quit Then, I moved out I will say that
everyone I talked to at Selene was pleasant and considerate, but clearly those people
were not decision makers

December 22,
">
Revdex.com – Houston
The Dispute Resolution Team
[redacted]
[redacted]
[redacted]
RE: Revdex.com Case Number: [redacted]
Property Address: [redacted]
Borrowers: [redacted]
Loan Number: [redacted]
Dispute Resolution Team:
On December 17, 2014, Selene Finance LP ("Selene") received the Revdex.com's ("Revdex.com") correspondence on behalf of [redacted] and [redacted] advising that they were unsatisfied with the customer service provided by Selene related to the servicing of the referenced mortgage loan, specifically related to telephone conversations with Selene agents regarding the past due status of their mortgage loanThey requested that Selene remove the Late Charge Balance due on their mortgage loan
As a brief history, the servicing of the referenced mortgage loan transferred to Selene on August 2, from [redacted], N.A("[redacted]")At that time, the mortgage loan reflected due for the August 1, monthly payment and there was an outstanding Late Fee Balance in the amount of $1,due on the mortgage loanOn August 18, 2014, [redacted] forwarded a monthly payment in the amount of $1,which Selene applied to the mortgage loan as the monthly payment due on August 1,
We have reviewed the telephone communication history for the [redacted] mortgage loanOur records indicate multiple attempts were made to contact the [redacted] regarding the past due status of the mortgage loanOur policy requires that we verify the identity of the party we are speaking with prior to sharing information regarding the status of the mortgage loanOur records reflect that several calls were disconnected because the party on the telephone refused to verify their identityTherefore, we are unable to continue the telephone callWe regret if this caused an inconvenience for the [redacted], but this policy is in place to protect their personal information
We have reviewed the payment history for the [redacted] mortgage loanSelene received a payment in the amount of $1,on September 29, which was applied as the monthly payment due on September 1, in the amount of $1,The next payment we received was on November 6, in the amount of $1,This payment was applied as the monthly payment due on October 1, in the amount of $1,
Selene, as the mortgage servicer, is required to analyze the escrow account following a service transfer in order to ensure that the escrow account is properly funded for the twelve (12) month analysis periodEffective with the payment due on November 1, 2014, the [redacted] monthly payment increased to $1,as a result of an escrow shortageWe are enclosing a copy of the Annual Escrow Disclosure Statement dated September 29, which was previously mailed the [redacted] and reflects the detailed escrow account activity to verify the escrow shortage
On November 28, 2014, Selene received a payment from the [redacted] in the amount of $1,Because it was not sufficient to apply the full contractual payment in the amount of $1,363.74, the funds were placed in the Suspense Account for the mortgage loan until enough funds were received to apply a full contractual paymentOur records reflect on December 15, 2014, we received additional funds in the amount of $which were combined with the Suspense Account funds to complete the contractual payment which was due on November 1,
On December 16, 2014, Selene received funds in the amount of $1,which were applied to the mortgage loan as the monthly payment due on December 1, As of the date of this letter, the mortgage loan is due for the January 1, monthly payment
We are enclosing a copy of the Payment History Ledger for the [redacted] mortgage loanIf the [redacted] feel there may be a payment which was submitted, but is not reflected on the Payment History Ledger, we respectfully request that they forward legible copies of the following so that we may research the account: front and back copies of cancelled checks, complete bank statements, and/or other documentation supporting the payment was submittedUpon receipt of these items, we will research the account and notify the [redacted] in writing of our results
Next, according to the terms of the mortgage loan, payments are due on the first (1st) day of each month and if not received on or before that date the loan is contractually lateHowever, late fees are only assessed on the account if payments are not received by the end of the 15th calendar day after the due date and negative reporting to the credit bureaus only occurs once the account becomes thirty (30) days late
The payment history reflects that the [redacted] have submitted monthly payments after the 15th day of the month, which has caused the mortgage loan to be appropriately assessed late feesIn accordance with Selene policy, we did not assess late fees to their mortgage loan in August and September due to the service transfer of their mortgage loanHowever, late fees were assessed on October 16, and November 17, in accordance with the terms of the Note and Security InstrumentAs a result, we are unable to honor the [redacted] request to remove the Late Fee Balance due on their mortgage loan
We sincerely regret that the [redacted] are not satisfied with the customer service they have received related to the servicing of their mortgage loan by SeleneWe strive to provide the highest level of customer service to all of our borrowers
However, our records reflect that Selene's policies have been administered appropriatelyFurther, the [redacted] loan is guaranteed by the [redacted]All attempts to discuss the status of the mortgage loan, by telephone and written correspondence, were handled in accordance with [redacted] guidelines
If you have any questions or require additional information, please contact us toll free at [redacted], Monday – Thursday, 8:a.mthrough 7:p.m., and Friday, 8:a.mthrough 5:p.m., CT
Sincerely,
Tammy J[redacted]
Customer Service Specialist
Selene Finance LP

February
23,
RevDex.com – Houston
",sans-serif">The
Dispute Resolution Team
West Loop South
Suite
Houston,
TX
RE: Revdex.com Case Number: [redacted]
Property Address: [redacted], [redacted], MO [redacted]
Borrowers: [redacted] and [redacted]
Loan Number: [redacted]
Dispute
Resolution Team:
On
February 17, 2015, Selene Finance LP ("Selene") received the RevDex.com's ("Revdex.com") correspondence on behalf of [redacted] and [redacted]
disputing the late fees which have been assessed to the mortgage loan
referenced above
According
to the terms of the mortgage loan, monthly payments are due on the first (1st)
day of each month and if not received on or before that date the loan is
contractually lateHowever, late fees are only assessed on the account if
payments are not received by the end of the 15th calendar day after
the due date and negative reporting to the credit bureaus only occurs once the
account becomes thirty (30) days late
Also,
Selene does not participate in electronic funds transfer with other financial
institutions, therefore, when the [redacted]'s schedule a payment through their
financial institution's Bill Pay System, a check must be printed and mailed to
SeleneIt is necessary to allow three (3) to five (5) days for the check
payment to be delivered by mailPayments which are received through our payment
lockbox address, [redacted], [redacted], PA [redacted], are processed on the
same day the payment is receivedWe endorse each payment with a date stamp
reflecting the day the payment is received
We
reviewed the payment history for the referenced mortgage loanThe servicing of
the mortgage loan transferred to Selene on August 1, Therefore, no late
fees were assessed to the mortgage loan in August and September Our
records confirm the following payments:
The
payment due on October 1, was received on October 17, 2014; a late fee was
appropriately assessed on October 16,
The
payment due on November 1, was received on November 28, 2014; a late fee
was appropriately assessed on November 17,
The
payment due on December 1, was received on December 15, 2014; no late fee
was assessed· The
payment due on January 1, was received on January 20, 2015; a late fee was
appropriately assessed on January 16,
The
payment due on February 1, was received on February 17, 2015; no late fee
was assessed because the 15th day of the month was on Sunday and
Monday, February 16, was a holiday.
Our
records confirm that all late fees which were assessed to the mortgage loan
were in accordance with the terms of the Note and Security Instrument
Therefore, we are unable to honor the [redacted]'s request to remove them
Further,
we have reviewed the history for the [redacted]'s online account with SeleneOur
records confirm that they registered an account on September 12, They
last accessed the online account on February 17, In most cases, payment
scheduled through Selene's online payment system are applied to the mortgage
loan on the same dayIf the [redacted]'s are experiencing difficulty accessing their
online account, we respectfully request that they contact us by phone so that
we can assist them
If
you have any questions or require additional information, please contact us
toll free at [redacted], Monday
– Thursday, 8:a.mthrough 7:p.m., and Friday, 8:a.mthrough 5:
p.m., CT
Sincerely,
[redacted]
Customer
Service Specialist
Selene
Finance LP

RevDex.com – Houston
The
Dispute Resolution Team
1333
West Loop South
Suite
1200
Houston,
TX 77027
 
RE:      Revdex.com Case Number:    [redacted]
            Property Address:       [redacted]
            Borrowers:                  [redacted] and [redacted]
            Loan Number:             [redacted]
 
Dispute
Resolution Team:
 
On
April 14 and 17, 2015, Selene Finance LP (“Selene”) received the RevDex.com’s (“Revdex.com”) follow-up correspondence on behalf of [redacted]
advising that she did not believe our initial response provided on April 13,
2015 resolved her issues. She provided additional information related to a
telephone conversation with a Selene Agent on April 3, 2015.
 
We
have reviewed Ms. [redacted]’s additional comments. We apologize that she did not
feel she was treated as a valued customer. We attempt to provide the highest
level of customer service to all of our borrowers. Our response below will clarify
the information provided in our initial response on April 13, 2015 and provide
additional information as requested.
 
Our
initial response specifically addressed two additional escrow payments. In her
additional complaint, Ms. [redacted] indicated that there were three additional payments
submitted to reduce the shortage in the escrow account. As clarification, our
records confirm at service transfer the escrow balance provided by the previous
mortgage servicer was negative, $-2,071.22. Selene has applied three additional
payments to the escrow account. We are enclosing a Payment History Ledger which
confirms that each of the following escrow payments were applied to the escrow
account of the mortgage loan on the date each payment was received:
 
                        August
20, 2014          $   825.02        Escrow Deposit
                        September
22, 2014   $   965.12        Escrow Deposit
                        October
15, 2014        $1,490.13        Escrow Deposit
 
Again,
as referenced in our initial response, when the [redacted]’s submitted the escrow
shortage payment in the amount of $1,490.13 on October 15, 2014, the funds were
applied to the escrow account, but the Selene agent failed to establish the
proper task to have the monthly payment adjusted to reflect the escrow shortage
was paid in full.
 
When
Ms. [redacted] contacted us on November 7, 2014, the agent she spoke added the
correct comment to the loan history, but set up the wrong task to have the
monthly payment adjusted. On November 12, 2014 Ms. [redacted] contacted Selene and on
November 18, 2014 we spoke with [redacted], in both conversations the
Selene agents reviewed comments on the mortgage loan which reflected a task was
established to complete the required payment adjustment. However, our agents
did not fully investigate to confirm that the proper task was established.
 
On
November 21, 2014, Ms. [redacted] called in again and the agent she spoke with did
investigate further. The agent set up the correct tasks and escalated the
situation within our escrow department. We regret that this did not happen
sooner.
 
On
November 24, 2015, a Payment Change Letter was mailed advising of the
adjustment to the contractual payment amount effective with the November 1,
2014 monthly payment. Selene also waived the late fee which was assessed in
November 2014 as a courtesy.
 
Regarding
the telephone conversations on April 3, 2015 with Selene agent, [redacted], and Selene manager, [redacted], we have reviewed both telephone
conversation recordings. The first recording confirms that Ms. [redacted]
identified herself as [redacted] at the beginning of the telephone call. Ms.
[redacted] advised Ms. [redacted] that we were unable to take a third party check
payment without verbal authorization from the third party and that Selene does
not accept credit card payments. Ms. [redacted] advised that her personal checking
account was closed. Ms. [redacted] advised Ms. [redacted] of alternate methods of
submitting payments without a checking account, specifically submitting a money
order or using MoneyGram’s payment service. Ms. [redacted] was not satisfied with
this information and requested to speak with a supervisor. The recording
confirms that when Ms. [redacted] initially requested to speak with Ms. [redacted]’s
supervisor, our agent did advise her that the supervisor was not available.
However, Ms. [redacted] did find a manager and transferred the call for
additional assistance.
 
Selene
manager, [redacted], took Ms. [redacted]’s call. Ms. [redacted] confirmed the
information which was provided by Selene agent, [redacted]; Selene does
not accept payments from a third party without the third party present on the
call to authorize the transaction and that Selene does not accept payments by
credit card. Ms. [redacted] stated her father would only participate if the
transaction could be completed online. At that time, Ms. [redacted] did advise that
if Ms. [redacted] submitted the payment though Selene’s online payment service, she
could use the checking account of her choice. At the conclusion of the call,
Ms. [redacted] advised she would submit an online payment. Our records confirm an
online payment was applied to the mortgage loan on April 7, 2015.
 
To
clarify, Selene policy will not allow a mortgagor to authorize a telephone
payment with one of our agents using a third party checking account without the
owner of the checking account being present on the telephone call to authorize
the transaction. However, when the mortgagor logs into their Selene online
account to submit a payment, our Online Payment Service allows the mortgagor to
personally enter the date of the payment, the amount of the payment, and the
checking account information for the withdrawal. We sincerely apologize that
this information may not have been clearly conveyed by Ms. [redacted].
 
Selene
is committed to providing our customers with the highest level of customer
service.  We sincerely regret that this
standard may not have been met at all times when servicing the referenced
mortgage loan.
 
If
you have any questions or require additional information, please contact us
toll free at 1-[redacted], Monday
– Thursday, 8:00 a.m. through 7:00 p.m., and Friday, 8:00 a.m. through 5:00
p.m., CT.
 
Sincerely,
[redacted]
Customer Service Specialist
Selene Finance LP
 
Enclosure:   Selene Payment History Ledger

Dear Dispute Resolution Team,
Please find attached our response to the Williamson's complaint.
If we may be of further assistance, please contact us.
Thank you,
Customer Service
Selene Finance

RevDex.com – Houston
The
Dispute Resolution...

Team
1333
West Loop South
Suite
1200
Houston,
TX 77027
RE:      Revdex.com Case Number:    [redacted]
            Property Address:       [redacted]th [redacted]
            Borrowers:                  [redacted] and [redacted]
            Loan Number:             [redacted]
Dispute
Resolution Team:
On
March 23 and 31, 2015, Selene Finance LP (“Selene”) received the RevDex.com’s (“Revdex.com”) correspondence on behalf of [redacted] and [redacted] advising of their attempts to obtain a copy of the 2014 1099-C document
which was previously ma**ed to the property address for the mortgage loan
referenced above.
As
a brief history, Selene records reflect the [redacted]’ were represented by an
attorney, [redacted]. Therefore all communication related to the mortgage
loan must be handled through the attorney. As such, the ma**ing address for the
mortgage loan was the attorney’s office address. Our records confirm that the
[redacted]’ contacted Selene on February 12, 2015 to request a copy of the 2014
1099-C be ma**ed to their updated property address. Our agent established a
task to have the requested document ma**ed to the [redacted]’.
On
March 6, 2015, Selene received correspondence from their attorney, [redacted], requesting that Selene update the ma**ing address on the mortgage loan
to reflect [redacted]. On March 19, 2015,
we received additional correspondence from Mr. [redacted] advising that his firm no
longer represents the [redacted]’ related to the mortgage loan.
On
March 21, 2015, Selene updated the ma**ing address on the property as requested
by Mr. [redacted]. As well, the account updated to reflect that his firm no longer
represents the [redacted]’. Correspondence confirming this information was ma**ed to
Mr. [redacted]’s office. Also on March
21, 2015, we ma**ed a written response to the [redacted]’, at the updated ma**ing
address, providing the requested copy of the 1099-C document. We are enclosing
copies of both letters for your reference.
We
sincerely regret any inconvenience the [redacted]’ may have experienced. However,
our records confirm that Selene policies and procedures were appropriately
administered in processing their request.
If
you have any questions or require additional information, please contact us
toll free at 1-877-768-3759, Monday
– Thursday, 8:00 a.m. through 7:00 p.m., and Friday, 8:00 a.m. through 5:00
p.m., CT. 
Sincerely,
Tammy J[redacted]
Customer Service Specialist
Selene Finance LP

Loan was transferred;
The customer service is awful; rude they treat you like dirt. I don't trust this company. This company needs to be reported to the [redacted].

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  Although they have addressed the issues that have been fixed we have still been treated unfairly  and we attempt to give them the same respect we are given no then in return we continue to be told we have been misinformed almost every call that we have had with this company we have been informed that we were told incorrectly when transferred to a manager or other representative, 99% of the time. At this point we are extremely frustrated and we were told many times tasks have been opened. Also we did not choose on our end to hold our payment we were told to hold off and wait to  age the payment. This payment issue occurred more than one time. I also did not try to authorize someone else on my account without them on the phone that is false information. I asked them if my father could make a payment online on my behalf and [redacted] told me she could not allow that and I would have to call with him on the phone again I told the representative that we were trying to pay online she then told me to pay with my account which I no longer have which I had told her multiple times I no longer had. She continued to ignore everything I told her ans with our history with this company I became upset and asked for her name and to speak with her manager she refused to give me her name and said  o manager was available I then asked to speak to someone higher up and she still refused to give me her name and put me on hold while I was still speaking with her. When her Manger came on the line she said here is my manager and my name is [redacted]  so go ahead and complain  about me. If we continue  to have the same reoccurring issues each month then we  will also be filing a formal complaint with the consumer finance protection bureau. We have already made our payment for this month and the payment for May has already been mailed in. We are not being treated fairly  and it is extremely frustrating  to be misinformed every call that we make in. There is calls from me and my grandparents due to the incorrect information  we are given. We will continue to be dissatisfied until we are treated fairly and like  a valued customer, we also will Continue to file other complaints if need be. There were 3 payments all made to be applied to the escrow account for the negative balance to be paid down and for there to be enough to funds in our escrow to cover the projected end of year costs. An amount of 825.02 was sent in on 8/20/2014 another sent in for 965.12 on 9/22/2014 and another of 1490.13 on 10/15/2014 all were to be applied to escrow payments have now been fixed but we're not for some time.
Regards,[redacted]

My loan with direct mortgage was purchased by selenefinance finance in may of 2015 I sent my may payment to .y loan company for my may payment direct Mort 3 days after sending my payment I am informed by selenefinance finance they were taking over my loan.2 weeks later they are calling me about my may payment which I explained was sent to my then mortgage holder and had already cleared my bank they continue to send harassing threatening letters saying I am behind on my payments which they are fully aware it has been paid but to my original Mort holder yet are threatening foreclosure this continues to be an ongoing issue to which they will not correct I have my paperwork to prove I am up to date yet they still do not correct.

RevDex.com – Houston
The
Dispute Resolution...

Team
1333
West Loop South
Suite
1200
Houston,
TX 77027
RE:      Revdex.com Case Number:    [redacted]
            Property Address:       [redacted]
            Borrowers:                  [redacted] and [redacted]
            Loan Number:             [redacted]
Dispute
Resolution Team:
On
April 7, 2015, Selene Finance LP (“Selene”) received the Revdex.com’s
(“Revdex.com”) correspondence on behalf of [redacted] advising that since the
service transfer of the referenced mortgage loan, she has had issues with the
servicing of her mortgage loan. She states that the customer service agents do
not provide accurate information and correcting problems took longer that she
felt was acceptable for the mortgage loan referenced above.
Selene
has reviewed the history related to the referenced mortgage loan. We can
substantiate there were multiple issues which occurred servicing of the escrow
account. However, we respectfully disagree that [redacted], [redacted]
or authorized third party, [redacted] were treated disrespectfully or
given false or misleading information. All three referenced parties called in
multiple times and spoke with different representatives related to the issues
with the mortgage loan.
As
a brief history, the servicing of the referenced mortgage loan transferred to
Selene on August
2, 2014 from Bank of America, N.A. (“Bank of America”).  The mortgage loan is setup with an escrow
account for the payment of property taxes, homeowner’s insurance, and mortgage
insurance. As the new mortgage servicer, Selene is required to analyze the
escrow account to ensure that it is properly funded for the twelve (12) month
analysis period. We performed the required escrow analysis on September 24,
2014.  A copy of the Annual Escrow
Disclosure Statement dated September 24, 2014 is enclosed.
On
September 22, 2014, Selene received an additional escrow payment authorized by
[redacted] in the amount of $965.12. This payment was applied to the
escrow account for the mortgage loan prior to the escrow analysis which
occurred on September 24, 2014.
Also,
Federal Law (RESPA) allows additional funds to be held in the escrow account to
prevent the escrow account from being overdrawn.  This additional amount,
which is called a cushion, may be up to 1/6th of the total payments
estimated to be made from the escrow account for the coming escrow year. 
The 1/6th represents two (2) months of the escrow collection amount,
minus Private Mortgage Insurance or Mortgage Protection Insurance (PMI/MPI).
As
referenced on the Annual Escrow Disclosure Statement, the required escrow
cushion for the mortgage loan is $443.26. The projected low point for the
escrow account over this twelve (12) month analysis period is $-1,046.87, which
equates to a shortage in the escrow account in the amount of $1,490.13. The
Borrowers have the option of repaying the escrow shortage in one lump sum. If
necessary, Selene will allow repayment of the escrow shortage over a twelve
(12) month period, as reflected on the enclosed Annual Escrow Disclosure
Statement dated September 24, 2014.
On
October 10, 2015 our records reflect we received a verbal request from
[redacted] asking that the escrow shortage repayment period be extended to
thirty-six (36) months. We honored the request and re-analyzed the escrow
account on October 10, 2015. A copy of the updated Annual Escrow Disclosure
Statement dated October 10, 2015 is enclosed.
On
October 15, 2015, [redacted] contacted Selene to discuss the escrow
shortage reflected on the September 24, 2014 analysis. Our records confirm that
Mr. [redacted] authorized a payment in the amount of $1,490.13 to pay in full the
escrow shortage. These funds were applied to the escrow account. However,
Selene failed to establish the correct task to have the monthly payment
adjusted to reflect the escrow shortage was paid in full.
Our
records confirm that Ms. [redacted] contacted Selene on November 7, 2014 advising
that the escrow shortage was paid in full and requesting that the monthly
payment be adjusted accordingly. On November 21, 2014, Selene corrected the monthly
payment and a Payment Change Letter was mailed to the borrower on November 24, 2014.
A copy of the Payment Change Letter is enclosed. Ms. [redacted] elected to withhold
submitting her monthly payment until the changes occurred. As a courtesy, Selene
remove the late fee which had been assessed to the mortgage loan.
On
November 25, 2014, Ms. [redacted] informed Selene that the annual property tax
payment due in January 2015 had been reduced. We requested that she provide a
tax statement issued by the taxing authority reflecting the change. On December
15, 2014, Ms. [redacted] submitted the requested tax document and Selene adjusted our
records accordingly.
Also
in December 2014, Selene has notified that the homeowner’s insurance policy was
cancelled. We sent correspondence advising that we needed proof of a
homeowner’s insurance policy or a Lender Placed Insurance Policy may be
purchased to avoid a lapse in coverage. Our records confirm multiple
conversations with [redacted], [redacted] and [redacted]
regarding this issue in January 2015 and February 2015.
On
February 4, 2015, Selene received Evidence of Insurance Coverage for a new
homeowner’s insurance policy and we updated our records accordingly. The new
policy was paid in full for six (6) months by [redacted].
Based
on the changes to the annual property tax payment and the homeowner’s insurance
policy, Selene re-analyzed the escrow account on February 20, 2015. The new
escrow analysis reflected a surplus in the escrow account in the amount of
$1,577.31 which was refunded. A copy of the Annual Escrow Disclosure Statement
dated February 20, 2015 is enclosed.
Our
records also confirm there were issues related to different checking accounts
which were used to submit monthly payments. While [redacted] is related to
the [redacted]s, Selene was unable to allow her to authorize payments using the
[redacted]’s checking account information without one of them being on the phone
to authorize the payment. Further, Ms. [redacted] requested to submit a monthly
payment using a credit card and Selene does not accept credit cards as a method
of payment.
We
sincerely regret any inconvenience [redacted] and the [redacted]s may have
experienced. We value our customers and attempt to provide the highest level of
customer service. Our records confirm Selene policies were appropriately
administered with the exception of the escrow shortage payment which was
received on October 15, 2014. Once we were notified of the exception, we worked
expediently to correct the situation.
If
you have any questions or require additional information, please contact us
toll free at1-[redacted]9, Monday
– Thursday, 8:00 a.m. through 7:00 p.m., and Friday, 8:00 a.m. through 5:00
p.m., CT.
Sincerely,
Tammy
Jones
Customer
Service Specialist
Selene
Finance LP

This company is a complete fraud! They took over my mortgage from BOA and I haven't been able to get my payments caught up because they keep adding ridiculous fees! They do absolutely nothing to help homeowners! I believe they are in the business of selling foreclosed homes!

On [redacted], Selene Finance LP (“Selene”) received the Revdex.com’s (“Revdex.com”) correspondence on behalf of [redacted] and [redacted] advising...

that their home secured by the mortgage loan reference above was lost as a result of a fire in [redacted]. The [redacted] stated they requested Selene release the Deed for the referenced mortgage loan, but Selene refused to comply with their requests. They requested the Deed be provided to them so that they could proceed with a sale of the property.
As a brief history, the servicing of the referenced mortgage loan transferred to Selene on [redacted] from [redacted], N.A. (“[redacted]”). On [redacted] forwarded restricted escrow funds in the amount of $[redacted] to Selene which were placed in the Restricted Escrow Account for the referenced mortgage loan. No information was provided to us by [redacted] regarding the status of the loss claim for the property.
On [redacted], we received an email from the [redacted] and we spoke with the [redacted] by telephone. [redacted] advised the house had burned down and was a total loss. She requested a payoff statement. [redacted] called back later the same day advising that she did not want a pay-off statement; she requested to use the restricted escrow funds to pay-off the mortgage loan. A Selene consultant advised her to submit a Letter of Authorization advising us to use the restricted escrow funds to pay-off the mortgage loan.
Our records reflect the next telephone conversations with the [redacted] regarding the status of paying off their mortgage loan occurred on [redacted]. The requested Letter of Authorization was received by Selene on [redacted]. At that time, a pay-off statement was ordered.
We are currently processing the pay-off of the mortgage loan using the funds in the Restricted Escrow Account. Once the pay-off transaction is complete, we will execute the Satisfaction of Mortgage and submit it to the appropriate county for recording. It may take up to thirty (30) days for the county to record and return the Satisfaction of Mortgage to us.
We sincerely regret any inconvenience the [redacted] may have experienced. The timing of the service transfer did delay processing the pay-off of their mortgage loan. However, Selene policies were appropriately administered when processing the loss claim and subsequent
pay-off of the mortgage loan.
                       
If you have any questions or require additional information, please contact us toll free at [redacted], Monday – Thursday, 8:00 a.m. through 7:00 p.m., and Friday, 8:00 a.m. through 5:00 p.m., CT.
Sincerely,
[redacted]
Customer Service Specialist
Selene Finance LP

Dear Dispute Resolution Team,
 
For your review, attached is Selene's response to the mortgagor's complaint.
 
Thank you,
 
Customer Service
Selene Finance LP

The customer service is TERRIBLE. We sold our house in April 2016 and they have a late charge for May 2016 on our credit. We are trying to get a new mortgage loan and cannot because of this mistake. We have called daily and received different replies. We have missed 2 houses because of this. We are trying to move our family asap because of our 3 small children and school!! They will NOT help us and are very rude!

March 9, 2015
RE:      Revdex.com Case Number:    [redacted]
            Property Address:       [redacted], [redacted], MO [redacted]
            Borrowers:                  [redacted] and [redacted]
            Loan Number:             [redacted]
Dispute
Resolution Team:
On
March 2, 2015, Selene Finance LP (“Selene”) received the Revdex.com’s
(“Revdex.com”) correspondence on behalf of [redacted] and [redacted] advising that
they did not agree that our response dated February 23, 2015 resolved their
concerns regarding the mortgage loan referenced above.
The
[redacted]’s disputed our statement regarding the assessment of late fees in accordance
with the terms of the Note and Security Instrument which are clear that if the
payment is not received by the end of the 15th day of the month, a
late fee may be assessed. The [redacted]’s provided information reflected on Selene’s
Account Statement which advises that if the payment is not received by the end
of the 16th day of the month a late fee is assessed.
Please
be advised, the Note and Security Instrument establish that a late fee may be
assessed if the payment is not received by the end of the 15th day
of the month. However, Selene, as the mortgage servicer, extends the grace
period until the end of the 16th day of the month. At the close of
business on the 16th day of the month, if the monthly payment does
not post to the account, a late fee is assessed to the mortgage loan. Further,
if the 16th day of the month occurs on a Sunday or holiday, a late
fee is not assessed until the end of the next business day.
Again,
we reviewed the payment history as referenced in our response to the Revdex.com dated
February 23, 2015. The late fees assessed to the [redacted]’s mortgage loan were
assessed in accordance with Selene policies and procedures.
The
[redacted]’s advised they understand that Selene does not participate in electronic
funds transfer with other financial institutions. They stated that their bank
mails the check payments prior to the date the payment must be submitted. We
are unable to make a determination on the date Bill Pay check payments may be
mailed by a financial institution or the length of time it may take to be
processed through the U.S. Postal Service. As referenced in our response to the
Revdex.com dated February 23, 2015, payments which are received through our payment lockbox address,
[redacted], [redacted], PA [redacted], are processed on the same day the payment
is received. Each payment is endorsed with a date stamp reflecting the day the
payment is received. We do not see that there were any delays in processing the
Bill Pay checks which we received from the [redacted]’s.
Further,
we have reviewed the call history for the [redacted]’s mortgage loan. Our records do
reflect previous telephone conversations with the [redacted]’s related to the late
fees which were assessed to their mortgage loan. The [redacted]’s were advised by a
Selene agent that their concerns related to the late fees assessed to the
mortgage loan would be escalated to a supervisor.
However,
we are unable to confirm a telephone conversation prior to February 17, 2015
related to accessing their online account. On February 17, 2015, a Selene agent
unlocked their online account which was previously locked as a security measure
due to multiple incorrect username and/or password attempts to access the
online account. Again, if the [redacted]’s are experiencing difficulty accessing
their online account, we respectfully request that they contact us by phone so
that we can assist them.
We
sincerely regret that the [redacted]’s are not satisfied with the information
provided in our response and hope today’s response will help clarify the
situation. Our records confirm that Selene policies and procedures have been
appropriately administered in servicing their mortgage loan.
If
you have any questions or require additional information, please contact us
toll free at [redacted], Monday
– Thursday, 8:00 a.m. through 7:00 p.m., and Friday, 8:00 a.m. through 5:00
p.m., CT.
Sincerely,
[redacted], Customer Service Specialist