Consumer complaint received 2018-12-11
Company: Selene Finance LP
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
The basis of this complaint is that the loan transfer was improper invalidating Selene as the servicer and whomever the owner of the loan is at this moment. The ONLY reason the loan has now been transferred multiple times is to insulate the initial failure that has led to foreclosure proceedings and that situation was very straightforward. The previous servicer, XXXX XXXX XXXX, failed to process my insurance, refused to process my insurance and instead improperly applied my payments essentially forcing me to stop paying as the full payment amount was going toward their improper escrow, fees ... My mortgage documents clearly state how payments should be applied which they violated the original loan agreement and refused to take responsibility for doing so. 

It would then appear that XXXX  realizing their mistakes, began the process of transferring the ownership and servicing. They began with a loan assignment created by them and assigned the ownership of the loan to themselves utilizing MERS but yet MERS had the loan listed as inactive during that time and all of this seems very shady at best. Then a month later they assigned the mortgage to XXXX  XXXX  and when inquired, I did not get a response from XXXX, instead got a response from attorneys which is a logical red flag. We however have to back up further because neither Selene or XXXX  XXXX XXXX, or basically anyone can provide documentation for XXXX XXXX XXXX XXXX role in the servicing, there are no servicing documents showing basically that XXXX has any role in this at all and if they can't show they have a role then they couldn't have properly assigned the loan, not quite sure how someone can prepare and assign a loan to themselves anyways, but this simply brings into question how Selene can have a legitimate role in the loan at this point. 

Now I'll tell you why this was done. The mortgage 'players ' have figured out how to exploit the court 's frustration with foreclosure proceedings and the players realize that if they create separation from things like that bad assignment and servicing issues like not processing insurance, that the courts don't want to look back like that, they want the 'here and now ' only and not explore why someone would stop paying, only the if and once controversy in servicing occurs, they pass the loan onto to someone else to appear in court that everything is nice and orderly ... This is why the loan went to XXXX, then I think to someone else, now to Selene which it's all hard to keep track of which is precisely their point and reason for such transfers. 

So again, the basis of this complaint has NOTHING to do with the most recent assignments, it has to do with Selene not being able to provide initial XXXX  XXXX XXXX servicing documents which then brings into scrutiny all of the assignments and the current ownership and servicing ... 

I should add that every bit of this is extensively documented so just let me know which documents would prefer as I have thousands of pages of documents ...

Company response to consumer: Closed with explanation