Servicer Contact Options
To obtain assistance, simply notify us in any of the following ways:
- Call us at (877) 735-3637
- Email us at LoanResolution@SeleneFinance.com
- Fax us at (866) 926-5498
- Send written notification to us at:
Selene Finance LP
9990 Richmond Avenue, Suite 400 South
Houston, TX 77042-8500
Telephone assistance is available in many languages. En nuestro Centro de Atención Telefónico, tenemos representantes que hablan español.
Additional Resources: Download Mortgage Assistance Application
From Servicer Website
COVID-19 relief due to financial hardship:
If you have been financially impacted by COVID-19, we are here to help. Examples of such financial impact are:
- Loss of income due to COVID-19.
- Unemployment or under-employment due to COVID-19.
- Caring for a family member who has been affected by COVID-19.
- Illness due to COVID-19.
If you need help, you may qualify for relief by simply contacting Selene, requesting a forbearance and attesting to a COVID-19 hardship.
How does mortgage forbearance work?
- A forbearance plan allows borrowers experiencing a temporary hardship to make a reduced mortgage payment or no mortgage payment for a limited period of time while you regain your financial footing.
- Forbearance doesn’t mean your payments are forgiven or erased. You are still required to repay any missed or reduced payments in the future.
- If and when your income is restored, contact us and resume making payments as soon as you can so your future obligation is limited.
Under the terms of a forbearance plan, the obligation to pay your monthly mortgage payment is reduced or suspended until the forbearance period ends. During the forbearance period, you will also receive the following benefits:
- No late charges are imposed.
- No negative credit reporting during the forbearance period.
- Foreclosure proceedings will not be initiated and existing foreclosure sales processes are suspended.
You may be eligible for a forbearance even if you are already delinquent on your payments. You may also be eligible for a forbearance if you are in an active Chapter 13 bankruptcy payment plan or if you previously received a discharge from personal liability and you have made voluntary mortgage payments following that discharge.
What happens at the end of the forbearance?
At least thirty (30) days prior to the end of your forbearance period, we will contact you to discuss your current circumstances and all resolution options that are available to you. Additional options to assist you in addressing the delinquency after the forbearance period may include:
- An Additional Forbearance: You may be able to continue the forbearance for an additional period of time.
- Repayment Plan: A repayment plan is a structured way to make up your missed mortgage loan payments over a certain period of time. These payments would be in addition to your normal monthly payment.
- Loan Modification: A modification would permanently change the terms of your mortgage to bring your account current. A modification may involve a change in your interest rate, an extension of the time for repayment, a change in the principal balance, or any/all of these options.
- Deferment: A payment deferral may bring your mortgage current and delays repayment of certain past-due monthly principal and interest payments. You will be responsible for paying the past-due amounts upon the maturity date of the mortgage or earlier upon the sale or transfer of the property, refinance of the mortgage loan, or payoff of the interest-bearing unpaid principal balance.
- Extension of the Term of Your Loan: Suspended payments from the forbearance are placed at the end of the loan in the form of additional monthly payments that will extend the current loan term and maturity date
- Reinstatement: If you are able, reinstatement is repayment of the entire amount due at once.
Selene will work with you to evaluate your financial situation and identify the options available. Prior to the end of the forbearance period, we will contact you to discuss an affordable permanent payment arrangement and/or solution to resolve the delinquency.
It is also important for you to keep in touch with us during the forbearance period so that we are aware of any additional changes in your financial condition that might occur.
Additional documentation may be required to evaluate other payment options depending on the investor or agency requirements, the total amount of missed payments, and any prior delinquency.
The CARES Act for federally backed loans:
A new federal law, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, offers certain protections to homeowners with federally backed mortgages.
If your loan is a Fannie Mae, Freddie Mac, FHA, VA, or USDA loan, then it qualifies as a “federally backed” mortgage loan. The easiest way to determine if your loan is a federally backed loan is to call us at (877) 735-3637. You can also find this information by visiting agency websites associated with federally backed loans.
While the CARES Act only applies to federally backed mortgage loans, other mortgage assistance options are available if your mortgage loan isn’t federally backed. Please contact us to discuss your financial hardship.
A borrower with a federally backed mortgage loan experiencing financial hardship due, directly or indirectly, to the COVID-19 pandemic may request a forbearance by:
- Submitting a request to Selene; and
- Affirming that he/she is experiencing financial hardship during the COVID-19 pandemic.
There are no additional fees, penalties or interest beyond the amounts normally due added to the account. You do not need to submit additional documentation to qualify other than your claim to have a pandemic-related financial hardship.
If your loan is federally backed and you are struggling financially due to a COVID-19 related hardship, you have the right to request a forbearance period of up to 180 days. You also have the right to request an extension for up to another 180 days. You also have the option to shorten the forbearance period at any time and resume payments if you are able to do so.
When the forbearance period ends, you will be responsible for resolving the payments that were due during the forbearance period; however, you will not be required to make a “lump sum” repayment.
Bankruptcy: If you have a federally backed loan, are in an active Chapter 13 payment plan, and are experiencing a material financial hardship due to the coronavirus pandemic, we recommend that you speak with your bankruptcy attorney.
Under the CARES Act you may be able to seek a forbearance and temporarily suspend monthly loan payments, provided that notice of the forbearance is filed with the court and served on the trustee and other parties in interest. At the end of the forbearance period, you may need to seek a modification of your mortgage loan, your Chapter 13 plan, or both.
Modifications are subject to court approval and may include an extension of Chapter 13 plan payments for up to seven years after the initial plan payment. If you previously received a discharge from personal liability and are making voluntary mortgage payments, you still may be able to seek a forbearance and temporarily suspend voluntary monthly loan payments, and any such forbearance plan will not revive personal liability under the loan. Please consult with your bankruptcy attorney for advice.
For non-federally backed loans, certain investors are allowing borrowers in bankruptcy to request a forbearance. Please contact us if you would like to know whether you are eligible for a forbearance due to a COVID-19 financial hardship.
Credit reporting: If your loan is current at the time of entering into a forbearance plan, then each month you are in the forbearance plan we will report the status of the account to the credit reporting agencies as current. If, however, your loan was delinquent prior to entering into a forbearance plan, we will maintain the prior delinquency status during the period of forbearance.
It is important that you work with us to resolve any delinquency during or after any forbearance period, as reporting of a delinquency status may resume after the forbearance period ends if a resolution option is not completed. Individual circumstances vary, so while we will accurately report to the credit reporting agencies, we are uncertain as to the impact a forbearance plan may have on your credit score.
Foreclosure and eviction moratorium: The CARES Act prohibits lenders and servicers from beginning a judicial or non-judicial foreclosure against federally backed mortgage loans, or from finalizing a foreclosure judgment or sale, for 60 days beginning on March 18, 2020, unless the property is vacant or abandoned. Lenders and servicers are also prohibited from executing a foreclosure-related eviction during this time.
For non-federally-backed mortgage loans, many states have also implemented moratoriums on foreclosures and evictions. Please consult with your foreclosure counsel.
Please ask questions or report your experience with this servicer below. Your feedback will help other homeowners navigate homeownership preservation options. REMEMBER: Ask for everything in writing to protect yourself against surprises.