What to do when a Selene Finance account holder dies

Federal regulations (Regulation X) define a successor in interest as someone who receives an ownership interest in the property securing a mortgage as a result of, among other events, the death of a co-borrower on the mortgage or the death of a relative who was a mortgagor. Selene does not publish a separate deceased-borrower claim form; it confirms the person now connected to the home as a successor in interest. Once confirmed, that person is entitled to information about the loan and can apply for available assistance, even if they were never named on the note.

To confirm successor-in-interest status Selene asks for a copy of any deeds related to the transfer of ownership, evidence of the family relationship (for example a marriage certificate, birth certificate, or other documents), and any trust documents, if applicable. A certified copy of the death certificate is the standard proof that the borrower has died and should be included. Send the documents to Selene Finance LP, P.O. Box 8619, Philadelphia, PA 19101-8619, fax them to (866) 926-5496, or email CustomerService@SeleneFinance.com, with the loan number on every page.

No. A mortgage is a debt, not an asset, so there is no payable-on-death, transfer-on-death, or beneficiary designation on the loan. When the borrower dies the obligation becomes part of the estate. The home itself passes under the will, a trust, a transfer-on-death deed, or state intestacy law, and whoever takes the home takes it subject to the mortgage — which the estate or heir must keep current and eventually pay off, refinance, or resolve.

It may be. Selene Finance shares corporate lineage and leadership with Rushmore Loan Management Services, and Rushmore wound down its own borrower servicing — its MyRushmoreLoan online access closed in late 2023 and its loans were moved to new servicers. Some Rushmore loans were transferred to Selene and some to other servicers, so check the notice of servicing transfer that was mailed for the loan. If Selene is now the servicer, use Selene's contacts to report the death and confirm successor-in-interest status; if a different servicer is named, contact that servicer instead.

Contact Selene's Loan Resolution team at (877) 735-3637 or LoanResolution@SeleneFinance.com and request a Borrower Assistance package. Selene states it notifies you when a complete package is received and makes a decision within 30 days of that notification. Options can include a repayment plan, forbearance, loan modification, deferment, HUD partial claim, short sale, or deed-in-lieu. Acting before the loan falls further behind keeps more options open and reduces the risk of foreclosure on the home.