BBB Business Review
This Business is not BBB accredited
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This business is not BBB accredited.
Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.
Reason for Rating
BBB rating is based on 13 factors. Get the details about the factors considered.
Factors that lowered the rating for Selene Finance include:
- 137 complaint(s) filed against business
- Failure to respond to 2 complaint(s) filed against business
- 5 complaint(s) filed against business that were not resolved
- Business has failed to resolve underlying cause(s) of a pattern of complaints
Factors that raised the rating for Selene Finance include:
- Length of time business has been operating
Customer Complaints Summary Read complaint details
|Complaint Type||Total Closed Complaints|
|Problems with Product/Service||65|
|Total Closed Complaints||137|
Additional Complaint Information
Beginning October 2012, BBB Houston began reviewing increased complaint activity on this company and found there to be a pattern of complaints.
Complainants who contacted BBB appear to have had Selene Finance take over the servicing of their mortgage loans from another servicer. According to complaints, Selene Finance often claims that consumer's mortgage payments are never received or are received after their due date resulting in late charges. Most complainants state in their complaints, however, that mortgage payments were made on time. In several cases, consumers maintained that their payments were clearing their checking accounts, but were not being applied towards their loan. Consumers also reported difficulty reaching the company by phone, website or e-mail.
Please understand that this company is not an accredited member or registered with the BBB. However, the BBB processes complaints for both accredited and non accredited businesses. Complaints are reported once they have closed and will remain on the company’s report for 36 months.
Customer Reviews Summary Read customer reviews
|Customer Experience||Total Customer Reviews|
|Total Customer Reviews||0|
Type of Entity
Business ManagementKaren Bellezza, President Mr. Larry B Litton, Chairman Shane Ross, Chief Operating Officer Mr. Brian Stauffer, Executive Vice President
LOAN MODIFICATION REAL ESTATE LOAN MODIFICATION REAL ESTATE LOANS
Selene Finance Chairman is Larry Litton Jr. previously of Litton Loans.