<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001496348</cik>
        <entityName>Selene Residential Mortgage Opportunity Fund II L.P.</entityName>
        <issuerAddress>
            <street1>C/O SELENE INVESTMENT PARTNERS II LLC</street1>
            <street2>50 CHARLES LINDBERGH BLVD., SUITE 500</street2>
            <city>UNIONDALE</city>
            <stateOrCountry>NY</stateOrCountry>
            <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
            <zipCode>11553</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>(516) 745-6644</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2010</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Lewis</firstName>
                <middleName>S.</middleName>
                <lastName>Ranieri</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Selene Investment Partners II LLC</street1>
                <street2>50 Charles Lindbergh Blvd., Suite 500</street2>
                <city>Uniondale</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>11553</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <middleName>E.</middleName>
                <lastName>Creamer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Witmer Partners LLC</street1>
                <street2>120 Gibraltar Road, Suite 215</street2>
                <city>Horsham</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19044</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Scott</firstName>
                <middleName>A.</middleName>
                <lastName>Shay</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Selene Investment Partners II LLC</street1>
                <street2>50 Charles Lindbergh Blvd., Suite 500</street2>
                <city>Uniondale</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>11553</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Gregory</firstName>
                <middleName>S.</middleName>
                <lastName>Oberholtzer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Selene Investment Partners II LLC</street1>
                <street2>50 Charles Lindbergh Blvd., Suite 500</street2>
                <city>Uniondale</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>11553</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Donald</firstName>
                <middleName>W.</middleName>
                <lastName>Phillips</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Selene Investment Partners II LLC</street1>
                <street2>50 Charles Lindbergh Blvd., Suite 500</street2>
                <city>Uniondale</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>11553</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Yale</firstName>
                <middleName>E.</middleName>
                <lastName>Stark</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Selene Investment Partners II LLC</street1>
                <street2>50 Charles Lindbergh Blvd., Suite 500</street2>
                <city>Uniondale</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>11553</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Private Equity Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001496348-10-000001</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2010-12-07</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>500000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>CSP Securities, LP</recipientName>
                <recipientCRDNumber>136941</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>13355 Noel Road, Suite 1050</street1>
                    <city>Dallas</city>
                    <stateOrCountry>TX</stateOrCountry>
                    <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                    <zipCode>75240</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>D. Kilmarlic Mgt., LLC</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>120 West LaSalle Street, Suite 202</street1>
                    <city>South Bend</city>
                    <stateOrCountry>IN</stateOrCountry>
                    <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                    <zipCode>46601</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Wedgewood Associates</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>4 Wedgewood Drive</street1>
                    <city>Blue Bell</city>
                    <stateOrCountry>PA</stateOrCountry>
                    <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                    <zipCode>19422</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Lamon &amp; Stern, Inc.</recipientName>
                <recipientCRDNumber>10839</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1950 North Park Place, Suite 100</street1>
                    <city>Atlanta</city>
                    <stateOrCountry>GA</stateOrCountry>
                    <stateOrCountryDescription>GEORGIA</stateOrCountryDescription>
                    <zipCode>30339</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Silver Leaf Partners, LLC</recipientName>
                <recipientCRDNumber>126694</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>420 Lexington Avenue</street1>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>10170</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Migdal Underwriting &amp; Business Initiatives Ltd.</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>26 Saadia Gaon Street</street1>
                    <city>Tel Aviv</city>
                    <stateOrCountry>L3</stateOrCountry>
                    <stateOrCountryDescription>ISRAEL</stateOrCountryDescription>
                    <zipCode>67135</zipCode>
                </recipientAddress>
                <statesOfSolicitationList></statesOfSolicitationList>
                <foreignSolicitation>true</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>1000000000</totalOfferingAmount>
            <totalAmountSold>475959596</totalAmountSold>
            <totalRemaining>524040404</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>18</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>2185000</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>800000</dollarAmount>
                <isEstimate>true</isEstimate>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>None, although the general partner of the issuer receives investment management fees and a special profit allocation.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Selene Residential Mortgage Opportunity Fund II L.P.</issuerName>
                <signatureName>/s/ Frank J. Jaeger</signatureName>
                <nameOfSigner>Frank J. Jaeger</nameOfSigner>
                <signatureTitle>Selene Investment Partners II LLC, Authorized Person</signatureTitle>
                <signatureDate>2011-12-02</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
