The benefits Selene Finance mortgages include various options to help at-risk homeowners avoid foreclosure, as the company's website explains. It offers a loan resolution department to assist borrowers who are having financial difficulties or are behind in payments. It assigns loan counselors to these customers to help determine the best course of action to resolve the problem.Continue Reading
Despite its claimed benefits, Selene Finance has a rating of F from the Better Business Bureau as of December 2015. It also has a pattern of unresolved complaints, according to the BBB website. Beginning in 2012, the majority of complaints center around billing and collection issues or problems with the product or service. Many of the customers who contact the BBB have mortgages that Selene Finance took over from other servicers.
The complaints commonly state that Selene Finance claims it did not receive mortgage payments or that the payments were late and subject to late fees despite the borrowers claiming to have paid on time, explains the BBB. In some cases, borrowers say that although the payments clear their checking accounts, Selene Finance does not apply the payments to their loans. Some customers also allege difficulty reaching the company by phone, email or the company's website.Learn more about Credit & Lending