Reviews: Provident Funding

Terrible service. you have to mail them check in order to pay additional principle. Otherwise, they charge you a fee if you do it online. These days, who want to mail a check with thousands of dollars and wait a month to see the amount finally applied to your mortgage? The company is living on charging clients extra fees!!

Have only made one payment with the provident funding. So far the experience has been good. You can set up bill pay with your bank and the account number is just the loan number. I paid extra and call Provident to have it applied to the principal. No need to use the coupon. In fact, I have told them to stop mailing coupons.

Their rates were not the lowest (I saw a lower rate online) but my rep (Michael S.) was very couteous and worked closely with my through what could have been a difficult process. Thank you provident.

I am a loan originator and I have worked with a lot of companies. Provident is the worst. The don't give a damn about you. Ypu are just a number to them. Yes they have good rates and that is all. The only reason the rates are good is because they cut corners everywhere else. Underwriting is a friggin nightmare. Their appraisers are morons. And if interest rates go up after you lock in, you an forget about closing until your rate lock expires. You cant trust Provident!

It's two days past my closing date. I am in danger of losing the house and my earnest money deposit. Does Provident care? No, they won't give me the all clear until I document why $10 was deposited into my bank account?! To any normal mortgage lender, I am an "A" buyer. Steady employment, good credit, no debt, with a 20% down payment. AND the house I'm buying appraised for more than the contract purchase price. There is no excuse for Provident to put me into this kind of financial jeopardy.

Worst mortgage refi experience ever!

I've spent the last 3 months of my life gathering information for Provident to try to refinance my mortgage. Every time I give them the requested information, they ask for more. Now my appraisal, which I had to pay $850 for, is expiring, and they are requiring a new one. I'm done! This is an awful company. Do not do business with them!

Blood sucking, rude and then some. Stay away from them. They only care about their bottom line and at your expense... They simply do not care.

Three years ago I attempted a loan modification with Provident Funding. They said I did not make enough money to pay less. Eight or ten months ago I hired a law firm to negotiate a loan modification. The result was Provident Fumding wants to add fouteen years to the life of my mortgage, though lowering my rate by a point, never negotiating the principal which is twice the present value of my property and expecting me to pay over $4.000.00 for this privilege. Occupy Provident Fu##ing!!

This is the worst company I have ever delt with. they charge outrages fees for just one small error that you might make. They really suck the big one.

I closed my loan with them. Their rates are unbelievable. The process to get the loan was an incredible nightmare.Kept asking for ridiculous amounts of paperwork, especially at the last minute. They really ask for ridiculous conditions and their staff was unbelievably incompetent. I'm pretty sure their appraiser also low-ball the value of my home. If you are a very busy person and don't have a lot of patience, I highly rec. you stay away from them, I suppose it is worth it but I wouldn't ever do it over

Just started to work with PF several months ago. The loan processing is painful. The first online payment was ok. The second time? We got a letter stating that our payment was late and over $100 of late charge was applied to our account. I always use automatic online bill pay from my deposit bank and I scheduled them to arrive way before the grace period ends. But somehow it took them 11 days to get the check. Request to waive the penalty was denied. Now I am trying to pay them even earlier, keep fingers ..

PF has the worst customer service I have ever recieved. And if try to call them, all you get is a run around. If you have a problem (that they caused), they are unwilling to help address it or do anything for the customer. Their only response is - Sorry (like an insincere apology is worth anything), but you have to pay extra because of our system. Find another lender!!

I have done many Refis for my primary home. This is the worst experience ever. They are asking for so so so many ridiculous documents and explanations endlessly. Your whole life is dragged into it. I can not stand to cope with it. It is a nightmare. I stopped the Refi in the middle. It really is not worth the effort. Stay away from it.

Provident Funding is currently #1 wholesale lender, and for a good reason. I am a Tier 1 Provident wholesale loan originator. I prefer to work with Provident because of excellent pricing I can obtain there for my borrowers, easy process and fast underwriting. Underwriting standards are tougher today causing all lenders to be much more thorough. Knowing the guidelines and the requirements is key. Borrowers experience will only be as good as loan originators knowledge.

Bait and switch kind of lender. Hard to work with at every single step along the way. They have all the chips and are relentless in using them against you. Never, ever again. I wish them nothing but pure unadulterated karma.

Tried to use Provident via Lending Tree. They ate the worst mortgage broker in our galaxy!!! It is like groundhogs day when you call them, the processors are slick and double talking and the have the mist ridiculous requirements that must be met about once a week during a 2 month period. We are now on our 3rd extension and they want to know what the number to an Hoa is for a rental house. Now they want a bill showing that a 3 inch portion of guttering was fixed. This is so stupid that it's funny! Do not use

I was actually pretty surprised to see all the poor reviews. I've done 2 refinances with Provident and both were pretty easy compared to my experiences with GMAC and Flagstar. Their rates are the best I could find. Automatic payments are easy to set up, but you have to pay a $15 fee if you ever want to pay off extra principal greater than $5,000 online. That doesn't come up very often and shouldn't be a problem for most. My biggest complaint is that their website isn't compatible with mint.com.

There is NOTHING positive about this company. Its poll of appraisers was a jock. They used out of town appraisers who did not know the true value of the local market. Steve B. was one of them & would not use him. No customer service unless your appraisal value was fundable (80% LTV). Underwriting was unreasonable. Even if you had 800 credit score, they wanted to know why you deposited an extract $100 this month but not last month. It would extend the underwriting process to avoid funding if the interest rate had gone up. Forget about complaints, lucky if you get an insincerely email to apologize but offer NO solution nor compromise. The extra 1/8 % saving is NOT enough to buy Tylenol. Would NEVER deal with them again. Is there negative stars for rating??

I'm been working to get my home refinance through Provident Lending for the past month and a half. We have excellent credit, no debt, solid job histories, and very close to the 80% equity rule required for the loan. Yet they still keep asking for more and more documents. I have to provide explanations for minor withdraw/deposits. It's unbelievable the way they do business. Im giving them this week and if it doesn't go through then I throw in the towel. Even if it means losing my appraisal fee payment!

For months now I am trying to refinance my condo, but Provident keeps asking for more and more documents. I have sent them hundreds of pages of stuff and written dozens of letters restating the same information they keep asking for. The people there are clearly stupid, incompetent and can't read ! It's a total waste of time and money trying to work with them. They should be prohibited from doing business !

I'm not too knowledgeable of loans/refis or even who to go to. I usually just rely on word of mouth from family and friends and once I have a company the 'professional' I'm working with. I refi'd with this co (closing Jan '11) but started the process Nov '10. The loan officer was working on my parents home so they recommended him. I was supposed to close in Dec and he did not have my condo questionnaire filled out by the mgmt company so I paid for it to be expedited and missed the rate.

She quoted me closing costs but they turned out to be much higher. And she blames her company and her boss for changing company policy, but she will not let me talk to her boss. Terrible liar!!!!!!!! She has been very rude during the entire process and never admit her mistakes. She would pretend to be nice at the beginning but once you get hooked, she will treat you as if you are stupid. Provident Funding does have very good rates but avoid them at all cost!

I am a loan originator. i used to work with them and closed some loans and it seem ok. But recently, they are getting very rediculious. The underwriter do not understand some simple knowledge on real estate contract. We have to educate her. They will give you lots of conditions and more to come each time they review conditions. It take them many days to review and until the good rate you lock expired. They they count your rate expired even if your loan is closed. They they kick you out. Very bad service.

Avoid Provident Funding. This company has low rates, but they make it up by making it almost impossible to pay by automated payment, thereby ensuring that at least one more of your payments will be late and you will pay late fees. I signed up for automated payments, and thereafter provident revoked my automatic payment status when I made a one-time electronic payment, all without providing any notice that the automatic payment feature would be revoked

I finally ended up paying cash in July, for my retirement home because of the massive screw-ups and incompetence of Provident Funding. They appear to only have trained monkeys working as customer service reps and a trained Gorilla of a CEO. I started the loan procedure through a broker and that was my first mistake due to exorbitant broker fees. The teaser rates that Provident offer are not worth the massive amounts of paperwork and explanations they require. Stay as far away from this company as you can

I have stellar credit in the 800s. Never been late on any payment in my life. On a fully documented loan, they gave me a hard time getting refinancing. That is when I started searching for reviews about this company and saw all bad reviews. It is unfortunate that I moved from Wells Fargo to this company, who could possibly screw me on any mistakes that can happen in the life of my loan. I tried to pay principal before my first loan payment and found out that they charge $15 for one time payment. That sucks!

I asked if I could refinance my 1st and they told me that they would not allow that to happen and that they wanted to be paid in full. I decided to get my 1st caught up and ignore the 2nd altogether. When I last talked to Provident, the person on the phone actually told me that he could not do anything to me if I didn't make a payment because they were the 2nd. I haven't sent them a payment for the last 15 months. Late fees are only $35 a month. 2013 I will get rid of them by refinancing my 1st.

Mortgage @ 5.5% in 2006 somehow sent to Provident. Closing costs, title fees, appraisals, points etc. from refinance by local banks/mortgage brokers would have actually cost me more in total than keeping original loan. On a whim called Provident to see if they could do better. 15 days later closed @ 3.25% with neg points (rebate) and reasonable closing costs. Will now save about $10,000 over length of loan. Very easy as long as no deviation from cookie cutter approach, no matter how logical it would appear

BAIT AND SWITCH- This lender will promise but not deliver. When they were caught in rate lock that was very UNFAVORABLE FOR THEM, they made up mumerous false reasons to exit their "commitment" to 780+ score borrower with a loan at less than 65%LTV and a coverage ratio of less than 18% of NET income. Interestingly, they then offered another rate/plan, at a cost of about 5K greater to the borrower. BAIT AND SWITCH, AVOID AT ALL COSTS,RUN DO NTO WALK, AWAY FROM THIS LENDER.

We have been a broker with them for a couple of years now. All I can say is that after reading the reviews in for this, PAY ATTENTION TO THE NEGATIVE ONES. Sure, they have decent rates, but what good are they if they allow loan locks to expire due to their unreasonable and in-house underwriting guidelines. They way over-condition the borrowers to the point where paying an extra 1/8 point is worth it. Beware and stay away.

My husband and I were in the process of refinancing. We went through all the appropriate measures for this mortgage and had one of Providents own do our appriasal. Two days before closing we get a message that the appraisal is in question and must be reviewed only to find out that they will not accept the appraisal because there are no comps in our area that match our property. So we payed $400 for a crappy appraisal and didn't get to refinance.