Consumer complaint received 2019-03-13 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: Ocwen Financial Corporation
State: NJ

Complaint narrative:
This process has taken over 6 months. During that time were shuffled to 7 different loan officers. Each time a new person came on, we needed to resend, repeat information etc. On initial query with ocwen to refinance to get a better rate, we were never told homeward residental was a division of Ocwen. We found this information out because we were trying to reach some one regarding an issue. We though this was deceptive. Everytime a tentative closing date was given communication would be halted for weeks, we would leave message and they would send more document to be signed. These documents contained errors, we tried to correct them and were told it would be correct at closing. Now two weeks before closing we are told the company has changed names again, its now XXXX XXXX.Again another loan officer, takes over. During this period of over six months we had to produce IRS statements, tax returns, credit card bills which were minimal each time they needed something new. Charges relating to office charges they wanted XXXX balances. Now they want our business lease payments ( we do not have a lease and this payment info is on business tax statement but they want 12 cancelled checks as proof. This was just asked this week. We were told our debt ratio was good, we had assets to cover loan and closing was eminent by the last loan officer. We refused to  give them the copy of rent checks,, we told them that info was on our tax info they have, so they denied the loan. Excuse now denied due to excessive obligations.It seemed they were looking for reason to deny the refinance. Each time we got close the underwriter needed something else. For a XXXX dollar refinance the amount of things need was excessive.I feel were we being bullied by this company. We were told we needed XXXX credit balances and this was during XXXX and half of the cards were used for business purposes and were paid off in full every month and the personal cards were paid off in full each month also. I felt like my credit cards were being held hostage.We felt harassed the whole time and were treated like children not adults 30 years in business. Everytime my credit was accessed, I had to file a need for my reports because I was getting info things were being opened in my name without my authorizing new cards, etc. I have the names of persons handling this process, if needed. We feel these practices are not standard in the industry and we were unjustly harassed. The last loan officer was surprised at the amount BS paperwork that was asked for and was taken back that the underwriter and supervisor refused to work with us and would not budge on the rent check for our office. We paid for an appraisal, that was useless and a second one was needed due to their screwing around ( no charge on second one ). We had two separate closing dates and told we were good to go. Because of the length of time involved we needed to fill out all forms again and got another rate. As a small business owner I feel we were put through unnecessary hoops for a XXXX dollar refinance. Our credit score are fabulous. Debt ratio was good, because I rectified this. We even gave info on our assets, mutual account to show we had additional income. It seemed that no one knew there job and what was needed to get this done. All we had were excuses and delays! Again over 6 months for this process, why? along with several duplications of already filled out paperwork. I have copies if needed.

Company response to consumer: Closed with explanation