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What is Selene Finance?

A residential neighborhood street with three houses

Selene Finance is a residential mortgage servicing company operating in all 50 states. The company is a subsidiary of an international investment firm, Pretium. With just over 500 employees and offices in 4 states, Selene collects payments from thousands of homeowners with distressed loans.


Established in 2007, Selene Finance currently administers loans for 82,000 homes. Many consumers saw their loans transferred to Selene by their original lender, sometimes without their knowledge. These accounts were likely labeled “distressed,” which means the homeowner is behind on payments or near default. A 2022 report showed Selene owns a balance of $17 Billion in unpaid principal balance (UPB).

Currently, the Selene Finance profile on the Better Business Bureau shows 205 complaints, many alleging the same deceptive practices. A banner at the top of the BBB profile alerts consumers that the mortgage servicer has received several similar complaints alleging violations of the Fair Debt Collection Practices Act (FDCPA).

The Fair Debt Collection Practices Act

Federal law regulates the practices of third-party debt collectors trying to collect debts on behalf of others under the Fair Debt Collection Practices Act (FDCPA). In addition to restricting how collectors contact debtors, the law restricts the times and ways to contact them. Debtors may sue debt collection companies and individual debt collectors who violate the FDCPA for damages and attorneys’ fees if their rights are violated.

Deceptive Loan Practices

Many complainants allege that Selene Finance fails to apply the balance to their accounts on time after making on-time payments to the mortgage servicer. The consumers’ checking accounts show that the payments have cleared. Failing to post payments in a timely manner is not only infuriating, but it is also illegal. Additionally, consumers reported difficulty reaching the company via phone, website, or email.

Threats of Foreclosure

Federal foreclosure laws and the FDCPA are in place to protect consumers who are in danger of defaulting on home loans. Even if you are behind on payments, a mortgage servicer can only begin foreclosure once you are 120 days overdue. A group of consumers created a website to detail their experiences with Selene, including many accounts of inappropriate foreclosure threats.

Representation for Homeowners Wronged By Selene Finance

If you have received a letter threatening foreclosure from Selene Finance, contact our experienced consumer protection attorneys. Call our office at (919) 526-0450 or send an email through our contact page. Our intake team does their best to provide appropriate resources to every potential client, even if we can’t take your case.