Consumer complaint received 2022-05-27
Company: Selene Holdings LLC
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
We have been trying since XXXX of 2021 to refinance the mortgage on a house that we own at XXXX XXXX XXXX, XXXX XXXX, FL XXXX. We feel that Selene Finance which is the mortgage servicer has been impeding our ability to refinance the property. First we are paying 15 % interest so it appears that they are trying to block the refinance. First, when they send a pay off later it states, " our records indicate the above referenced mortgage ( s ) is/are either in bankruptcy or has/have received a discharge in bankruptcy. ) This is misleading information and brings up a red flag to lender 's who we try to refinance with. We are not in bankruptcy nor have we filed for bankruptcy. No bankruptcy appears on our credit report. We had to get Selene to issue a letter refuting their claim. 

We initially tried to get a loan with XXXX  XXXX in which our credit scores where at around XXXX. We spent over {$1700.00} updating information about our p & l and on the appraisal fees. After much frustration trying to get the loan and communicate with Selene we gave up.

Selene force place coverage on the house for insurance and we were notified that if we purchased our own insurance that the forces placed coverage would be removed. We purchased the insurance and fax as well as email the information to them. They ignored it. Then began, to create an escrow. I have proof the the insurance information was emailed and faxed to them in a timely manner. The mortgage payment went from {$760.00} to or {$1300.00} per month. My brother-in-law who is on a fixed payment and also on the mortgage pays the mortgage each month is unable to pay that kind of money. We pay the taxes and the insurance and paid both in full before they raised his mortgage payments.. Selene made an error and it still has not been corrected. The have reported that payment are late in the credit bureau when payment have been made on time since XX/XX/2021. There have been no late payments, the {$760.00} has been paid on time. 

We again tried to refinance the property with XXXX XXXX. They just issued us a notice of denial today stating " Unacceptable payment record on a previous mortgage ''. Again we spent money on an appraisal around {$600.00}. We were denied because Selene is showing 90 days late in the credit bureau. and has been delaying clearing up this issue. In the credit bureau all my bills are paid on time Selene is the only thing that show delinquent. Now because the credit score have gone down to the low XXXX mortgage lenders will charge me a higher amount to obtain a mortgage to refinance the property.. 

I have put my request in writing to Selene Finance. First, remove the escrow and re store the payment back to {$760.00} per month. Second, correct the information that they have been reporting in the credit bureau so our credit scores can be restore. 

Most lenders are concerned mainly about getting their money and would welcome getting the property refinance so they can get their money. Selene Finance seems to be holder people hostage so they can keep the mortgage because they are getting 15 % interest. Online their have been many complaints against the company. I can not attempt another refinance until they clear up the problem. I would also like the to reimburse me money spent while trying the refinance the property.

Company response to consumer: Closed with explanation