Run from Provident Funding!!!
I am writing this review while still waiting for Provident to send the wire transfer to complete the transaction on my investment property purchase. The closing, originally scheduled last week, was planned for 9:00 this morning. At 11:30 (2 1/2 hours AFTER we were supposed to close) we received a request for an updated bank account statement. After I sent it, the Provident representative informed us that she was required to leave for lunch for an hour. It is now 1:30 PM and we still have no answer!!!
Don't be fooled. Horrible Company & Customer Service
This company is scamming people on late fees, as you can read from the many reviews, but they go much further with their predatory tactics. This month they sent my mortgage payment back and charged a late fee because they "will not accept any payment unless all of the fees are paid at the same time." I have called and tried to work through it with them, have sent in paperwork, and even endured the belittling attitude of their customer service department without any result. They are the problem.
Unlicensed "Manager" Provident Funding
BEWARE! No Ethics,Morals, Customer Service! Found this company online and called and was referred to deal with the office manager. The rates were good, but then he changed the rate on me at the last second and charged me outrageously. This is illegal bait & switch practices and I contacted the Attorney Generals Office who said he's not even licensed and should not be practicing! I called his corporate office and they are so unprofessional they switch boarded me back to the fraudster himself!
This company is a scam
PLEASE HEAD REVIEWS!!! Very, very few positive and many, many negative speaks volumes. Don't be fooled by low rates, they will screw you out of way more than you save. They will access inappropriate fees, PMI's, and then you are stuck as they reap the rewards. Their attorney's must be crocked as they know well how to prey on the innocent. RUN! There are plenty of mortgage companies with good ratings.
Particular, but very efficient. Good rates, great website.
Very efficient, and very picky.
Rates and offerings are great.
Refinance took less than 2 weeks.
Assessments are fair and clear.
Turnaround time is less than 1 biz day.
Cust Service is average, but I never need them.
Online system is easy and complete.
Payments online, billpay, or by mail.
Can submit insurance or tax updates online.
Updated docs are processed in half a business day.
Very rude customer service
I have a mortgage with provident and have had very bad experience with customer service department. They are very rigid and just read off a script.
Stay away from this mortgage company.
Would not recommend!!
I was trying to refinance my house using provident after many additional documents my loan has now been denied because they disagree with the appraisal...too high. It isn't like I am trying to borrow 80% of the appraised value it is more like 69% but still denied. And worst of all they picked the appraiser! While I realize there are lots of new government rules this defies logic.
THE worst mortgage company!!!
Provident is THE worst mortgage company. The customer service people are super rude, and they charge you late fees even if they make mistakes. Stay away from them.
I applied for Home Refinance loan from this company via ehomeloanadvisors in April 2013. I have very good credit rating and I supplied them all the papers that was needed very promptly. They said they locked my rate. To my utter surprise, ehomeloanadvisors contacted me and said the rate lock period is over as Provident Funding could not finish their work in time. As per them, the rate is more now and I will have to pay additional $4500(around) towards closing, which looks like a scam to me. Loan #9523040543
Provident is great!
I refinanced with Provident 9/11, 2/12, 9/12, and 2/13, as rates and pricing just kept getting better and better. With a firm understanding of the mortgage industry I can understand why other people would be upset over certain things. A mortgage loan is a huge undertaking, involving hundreds of pages and several people to get something done. There is bound to be some confusion here and there. Provident has the best rates, therefore, they only accept the best applicants based on income, equity, credit.
Jacked around- HORRIBLE EXPERIENCE!!
We recently tried to refinance to get a lower rate and term. We had a loan with them and thought it would be easiest to go with them and their low rate again. Big mistake! Ridiculous tedious requests- we never missed a payment on anything-800+ credit score-125k + in income-no bills except student loans that wont need to be paid back working in health care. The house appraised well-so they came up with- we needed our attic (which isn't under construction) finished first-what?!?Now out $600+ time-whata joke
Yet another bad experience
So, as if these other reviews weren't enough for you, here's mine: I have had my loan with PF since 1998. Several, nay, multiple times, if not regularly, I have received letters stating PF hasn't received my proof of insurance on the property; each time I call my agent and ask him to please fax a copy of the insurance paperwork to these jokers. Once, a couple months after having the agent fax off the info, I got another letter stating that since they hadn't received my insurance info, they
I had and existing loan with Provident and to refi (thought that would be the easy thing to do given tey had been servicing my loan since 2002). Wrong. I went through five months of iterative submissions of more and more records, details, and got basically the run around wasted my time and money. I think they do that to pocket the Inspection fee. They are either inept, or don;t care, either way don't waste your time. I'l never go back.
Customer Service is non-existent
We had a mortgage with Provident Bank -a terrible experience. I made an additional principal payment that was incorrectly applied & resulted in a "missed payment". 3 mos of phone calls, letters & no success. Paid off the mortgage & waited 3 more months for confirmation (never came). Finally found on county records. Never again!
Horrible Company - AVOID
Tried to get a loan closed with these jokers, apparently they needed my bloodwork and first-born, despite the fact that I can pay in full for my property several times over. Wasted six months of my time.
Absolutely the worst customre service
I currently have a mortagage with Provident and they absolutely have the worst customer service and a very antiquated processes and billing software. While they provide a competitive rates, their funding process was extremely painful. To both my and the notary agents disbelief, they sent the notary agent twice to my home because I put a date beside a signature line! I have many e-mail threads and phone calls with the very apologetic mortage broker/agent. If I have to refinance again, I wouldn't go with them
Refused to credit our check but cashed it anyways
We decided to pay off mortgage. We obtained balance and had our bank pay them like they did every mortgage payment we have made. When we did not see credit we asked them why they did not credit our account. Their answer "It was not a bank certified check so we returned it per policy'. That is not correct. They CASHED check putting it in their account and wrote us another check against their account a week later. They are playing games to increase amount of time they can collect interest.
Late Fee Scam
I signed up for auto payment on their website for my very first mortgage payment. Everything looked completely normal when I did that; no error messages or anything.
For some reason the auto payment didn't go through and they hit me with an $82 late fee. When I spoke to them about it and told them that I signed up for auto payment 3 weeks before the payment was due, they said they didn't have any record of it and refused to waive the late payment fee.
This company is scamming people for late fees.
BEWARE: Horrible Customer Service; headache city
I just got a refi from Provident Funding. I should have gotten a clue during the loan process that they treat customers like dirt. Anyhow, trying to get a refund from my escrow account has been horrible (I paid it off early for tax reasons). Long hold times, misinformation provided, no return calls, hang ups when I ask to speak to a supervisor. Always get the ID of the person you are speaking too. They are like the comcast or at&t of mortgages. STEER CLEAR if your can from them. I regret not knowing..
Provident funding - poor customer service
I have financed with Provident twice. They have good rates and a good website. What they don't have is good custoimer service. I do finance so I am familiar with the documents they want. Both times I worked with them I ran into tedious minor issues that my loan officers were supposed to handle but did not do so until I hounded them multiple time a day to pay attention to my loan. I'm sure they're going for volume but the customer service stinks.
Provident Funding is a great company to work with
I have been working with Provident for approx. 10 years and as long as you submit a loan to them that meets their guidelines, you will have a great experience. They have the quickest turn time I have seen in the industry for brokers which results in quick closings for your client. My conditions are reviewed in 24 hours, sometimes the same day! Closing packages are quickly turned around normally within 24 hours. I don't know any lender who does this. Bad experiences=lack of knowledge from your broker.
BEWARE BEWARE BEWARE
When it comes to choosing a lender, the only advantage is these guys may be that little teeny tiny bit lower in rate. Your health is not worth it!!!!!!!! If you think a trip to the dentist office for a root canal would be painful, I would rather have a root canal and my wisdom teeth pulled at the same time with no novacaine. That would be much more enjoyable than going through the witch hunt that you will need to survive with these guys. Don't go here!!!!!!!! Your health is too important!!!!
ReFi completed in two months with lots of headaches.
Charged high fees for appraisal & title insurance.
Not given opportunity for re-issue rate or choose my own title insurance provider.
Customer service was awful and non-responsive and when I did get a response it was one sentence maximum.
Underwriting couldn't calculate rental income on a owner occupied property.
Add insult to injury - my mortgage consultant left the company the day after closing without alerting or providing an alternate contact during rescind period.
Rec'd closing docs 2 hrs b4 signing.
do not deel with them
today, Provident Funding schedule my closing at 7:00 PM after I uploaded dictionary of data:)I called my wife for the closing, cancelled everything because they called me with the closing at 7:00 PM
I work for Microsoft with great salary
anyway, they called me at 5:00 PM because they wanted more money and document? really, what, now! the closing after 2 hours? u requesting wire money now?
when i can do it, jokers
Happy repeat customrer
I have refinanced through Provident Funding 4 times in about 3 years. Each time was handled efficiently and knowledgeably by their staff assigned to my account. Yes, the requests for documentation can be tedious, but I am a retired banker and know something about this business. Their requests are not unreasonable and most are required by law. In short, if you are loaning someone hundreds of thousands of dollars, you want to be sure they can pay you back.
Times lots of time
They have the best rates and minimal fees. However they will drive you crazy with conditions. In the end it was worth it to get the best deal but just know going in that it will take 60 days minimum.
Good mortgage company
Got my loan in 45 days with no point and no fee!
They offer the lowest of the lowest mortgage interest rate on the market comparing to any lenders. The catch is that you need to have excellent credit scores and have all the necessary documents to back you up if you are being requested to submit the document to them.
I believe that all the negative feedbacks are from those who are not truly qualified for the loan and that is the reason the loan never got through.
do not use this lender
This company's customer service is totally bad. I overpaid my mortgage and they sent me a cheque. The cheque bounced, and they never paid me again. Whenever I talk to customer service, different people all the time, they take a message and never call back. Do not use this lender, this is one of the worst lenders in the whole United States of America
Good rates, but not worth it
I was going to go with Lender's Direct, but Provident was cheaper. However, Provident was a horrible experience. My broker sounds like he's straight out of college, doesn't quite understand what's going on, rarely answers the phone, does not return phone calls, and answers emails about 25% of the time. They also have automatic emails with warnings like "rate lock warning, contact agent", but then the agent does not respond. If you can afford to pay more, go with another company for better service. Stay away
Should be called "Provident Failing"
Provident has been slower than I thought possible throughout the process of getting our home loan. They asked for one thing after another, after another, to the point of redundancy. These information requests were ridiculously picky - they asked us for copies of checks for 20 dollar deposits into our bank account. This dragged on for so long that the next month's statements became available, at which point they asked for those and then asked for more information on those. I would recommend steering clear.
Don't be fool by the low rates, horrible and unprofessional services ever!!!
If you have worked with this lender and you will know, you are actually dealing with one man band most of the time. Underwriter is also the one draws the loan docs and funds the loan as well. They hardly return broker's emails and phone calls. Their underwriting knowledge is terrible... They won't underwrite your case if your loan is not locked or not paid for appraisal fees. "Uncertainty"and "lack of communication" are the feeling when you are dealing with these people; it's a black hole, Do Not Try!!!
Go elsewhere quickly
Provident excells at INCOMPETENCE. I could rant on and on. Frustration at its highest peak. If you want a smooth refinancing go else where!!
I mailed my check to Provident Funding on the 10th of September, 2012 and they sent me a notice on the 20th of September saying they had not received my payment. Eventhough I sent it on the 10th and I'm sure the postmark on the envelope will verify that, they will not waive the "late fee" they are imposing. I made the payment over the phone today and they wanted to charge another $15.00 to do so.
The process required far too much follow up on my part from requesting they send predisclosures to validating they had completed all verifications We would have missed the lock period if I hadn't been following up throughout the process from from application to close. We sent all requested information via fax or email within 24 hours of their requests. Other lenders with the same or better rates - do yourself a favor and choose someone else
DANGER--PROVIDENT IS LOUSY
These guys get you in the door with a low rate then totally mess you over with THE WORST SERVICE IN THE WORLD, LOTS of PICKY, STUPID CRAP and other annoying communication and practices that make you wish you had never heard of them before
Did a refi without a hitch. Rates couldn't be matched. We had plenty of equity in our home which may have helped.
The Most unprofessional and unrealistic company
They may have the lowest rate but they employ the most unprofessional and unrealistic people. It is worst than dealing with robots, it seems that no one at their branches has the intelligence to step up and make decent decisions (that is if you can get anyone on the phone). And after reading all the reviews, it seems like I am not alone to feel that way. Will never do business with this company, they can brag about their rates but there is no way they can brag about the level in intelligence there, on a scale of 1-10 their human communication skills are below zero.
Cost us money
I would give fewer than one star if I could. Started our loan application in April. Paid for appraisal, credit report etc. They delayed and delayed, asking for more info, new copies of info. We provided all information immediately. Finally we get our loan approved in August - except the appraisal is now also too old and we apparently need to pay another $425 to have another one performed. Luckily rates are down and we are cutting our losses to go to another lender.
Provident is a Nightmare!!!
I have never experienced customer service so horrible in my life. We found out years later they never discharged our paid off mortgage. We went around with them for weeks trying to get them to do the discharge, never ever having the person, whose name was finally revealed to us, actually call us back or send the requested materials. It took them ~2 months to get it discharged -- almost killed the sale! Our other loan with them they "lost" the $125K wire transfer payoff for a few weeks! AVOID PROVIDENT!!!!!
Bad business practives
Beware if you are doing a refi with this company. Provident owns LenderVend who supposedly hires "independent" appraisers. The appraisal we got back was almost 200k less than one that we had earlier in the year. The appraiser was incompetent and derilict of duties. It was a 10 minute house visit and the report was filled with errors and omissions. Here's the kicker. They tell you that you can file a rebuttal but the review process takes you beyond the loan lock. The bad appaisal cost us $2,000 in extra fees
Provident Funding Refinance
From the first contact to signing docs it has taken 18 days. This was the easiest process I have ever went through. I commend all the Provident employees I have delt with. Excellent job.
Worst loan company I ever dealt with
One condition after another condition they request. I have got 3 loans in the last 3 years that took about 30 days each. After 90 days with Provident still nothing. The additional back up documentation they request is redundant of what has already been sent to them. They do not even know how to read a W-2 form and don't believe it's correct. Do not waste your time with Provident look elsewhere
Closed 2 loans in 20 days
Chose Provident (direct-not through broker) for lowest rates/fees. Having read negative reviews, we aggressively provided documentation. Underwriting/approval process was no worse than Chase last year, but not as smooth as Everbank. Both loans closed within 20 days of applications. If you want hand-holding customer service, or have complications, go elsewhere. If you want the lowest rates/fees, have straightforward, good finances, low LTV, and the patience to deal with an overworked team, you should be OK
I just finished a refi with Provident who was holding my original loan. I found the experience to be one of the easiest refinancing processes I have ever gone through. I was promptly assigned to a mortgage specialist who walked me through the entire process. I am extremely pleased with the processes and overall experience with Provident!
Horrible Customer Service
I have had 3 loans with Provident It wasn't until my last loan that things got really bad. Recently I did a refi. My docs including all my tax returns and bank statements were lost in faxing them to Provident twice. Finally the loan officer had me fax them to his desk. He told me they were having lots of problems with their system. Now they have charged me a late fee on a payment on the refi when I never even got a payment book. I tried calling a manager but was told you can only contact them by email
Best Rate and closing cost /conditions are horrible
I must say that the rates and closing are way better than any other lender out there. They are very picky and condition you for everything in the world.
Poor underwriter that can't do math and read English
I had a loan with Provident Funding and tried to close it within 30 days. I got over 800 credit score, income is 6 figures and also have 20% down payment, the only thing is I work in a very famous big company for less than 2 yrs (same work experience is 7 yrs). The underwriter picked on me and required me to submit 15 proofs of employment for more than 1 months one by one. Come on, can't you read the income is sufficient enough to pay the mortgage? Why not tell me at the beginning but not 1 day b4 closing?
Trust your gut! It's not worth it
We are going through the loan process with them now. All I can say is that I wish I read these reviews before I ever started the process with them. Everything I read here is true. Our house is built and ready for us to move in. We closed on the sale of our old house last week and now we have no place to live because they won't let us know when we will be clear to close. If an 800 credit score and 35% down isn't enough for us to get approved you need to think long and hard about using these jerks.
Another bad experience with Provident
I understand a company wanting to document a loan fully but the Texas office was obnoxious. Like others writing negtive reviews here we were subjected to condition after condition. Then they wanted a last minute employment verification which blew the closing date by 8 days. Even our title company agent would not talk with the Provident agent. His comment was, "Well respected lender...lousy customer service." I agree with others here that the slightly better rate was not worth the abusive treatment.
I have refinance with them 3x in the last two years and am about to do it again. They continue to save me money, and they are certainly efficient. They could be a little more prompt in getting back to me.
great lender and best rates
i am a mortgage broker in CA and most of my loans i cloes is with Provident Funding , i close loans within 21 days , it is important to choose the right broker when your loan is submitted to Provident Funding.
They have pricing which cannot be beat and fast turn around time.
Refinanced within 30 days with no problems.
I used a local Mortgage broker (Pinnacle Peak Lending) who has an excellent reputation. He handled all the preliminaries, secured a great rate and worked directly with Provident to complete the loan. The refinance went well,and once we closed, I filled out a request with Provident for automatic monthly payment withdrawl. It has also gone smoothly. I pay my own taxes and insurance. I will admit that Provident could improve their customer service. However, I wouldn't want their job these days.
Best I have ever used
There is something wrong with these people writing bad reviews. I've used them three times and they were fast efficient and had the best rates. I also referred them to five friends who were all very happy.
The most Incompetent underwriters I have ever delt with. They don't seemd to know anything about IRA accounts as income.
Rated below Zero star for WORST LOAN EXPENENCE-Stay away !!!!!!
Absolutely the WORST lending experience I have ever encountered. Sure, they have great rates but their turntimes and customer service are the most abysmal I have even seen. They DO NOT communicate, they lay condition, after condition, after condition.Over the three month period, I have provided over 40 pcs Conditioned.......information. On 5/23/12 I was told my loan was not approved. Not knowing why?????maybe because My credit report is 800, and income is over $100 thousand and NO DEBT. I am applying fo
If it's too good to be true, it probably is. STAY AWAY FROM THIS LENDER.
We tried to get refinancing through Provident Fundings. We have excellent credit history. The way Provident Funding operate is by offering low interests as "bait", then they add conditions after conditions, many irrelevant to the loan process and others just on the side of outlandish. The people who process the loan are "clueless" about the loan documents. If you have good credit history, look else where. It is not worth it wasting your efforts with this company.
WARNING DO NOT DEAL WITH PROVIDENT FUNDING they are the worst company to deal with in all customer service aspects. I can't believe this company is still is open. Their are so many negative things to say about this company the list can go on forever but I don't want to waste anymore of time. I am in the process of looking for another lender to refinance my house!!! They don't appreciate their customers and do nothing to work with them so sad!!!!!
Worst experience ever
I took my home loan from Provident Funding. And I must tell you, it was the worst experience ever. They waited for 15 days to check my documents. And found one "issue". So, I provided them all the documents to prove my innocence for this issue. But well! It was too late, since my locking period was ending in 3 days. So, they purposefully replied to me on 4th day saying that everything is ok. But now my interest rate would be 0.8% higher. Please do yourself a favor, and don't go through them for your loan.
Absolutely the worsh lending experience I have ever encountered. I have been in the lending arena for over 20 years and would never, ever use these dorks again. The better rate is just not worth the nightmare they will put your and your clients through. Upper management/ownership are all cowards. You cannot reach them no matter how hard you try. DO NOT get hoodwinked by their low rates. You will be sorry.
bungled insurance payments
Provident insisted on an escrow account for the property taxes and insurance payment. The missed an insurance payment, even though I told them. They did not believe me, as they claimed that the insurance company had not sent them a bill. When they finally paid, a late fee had been added, which they paid from the escrow account, i.e. out of my pocket. After I explained to customer service that since Provident caused the late payment, they should pay the fee, they hung up on me.
Provident Funding Cost us $1000 in unfair taxes
This year Provident chose to pay our taxes from the escrow in Jan 2012 instead of 2011. This makes it appear that we paid no property tax in 2011 although we paid our mortgage faithfully and on time. Now we owe $1000 in federal taxes that we would not have owed had they paid in the correct year. Calling Provident only resulted in the agent telling me they abided by their contractual agreement and will continue to pay in January from now on. We were not notified in 2011 and have no recourse.
Provident Funding...The worst bank to deal with.
Provident Funding is, without a doubt, the worst bank to work with. What would be minor problems with most lenders are major issues with this bank. If you're getting a loan, look elsewhere.
Payment Processing rip off
This is the second time in 5 months that Provident has said that our payment was late because they didn't receive it by the due date. We've been mailing our payments in ON TIME for 6 years. in Nov, they said it was 2 days late. Last month we mailed it 10 days early and they called the day after it was due to say they didn't get it.We called our bank and they said it had just cleared. They still charged the late fee.They want electronic payments but they charge $7.50 for an e-check. What crooks and cheats!
Our current mortgage is with Provident Funding and we are trying to re-fi at a lower rate. I have had to send and re-send the same documents. I started this process in 2/12 and they keep coming up with something else. They wanted papers to prove that we sold a home back in 2006. I am afraid that our locked in rate could go up and I wonder if they aren't stalling. Our credit rating is excellent. I also had problems when I tried to use their on-line system to pay my mortgage.
Bad Service and they don't care!
We have never had a late payment in our 25 yrs of owning a home. We sent our payment in time last month as we always do. We then went on vacation for two weeks. There was one number missing in the written part of the check. They returned the check in the mail. Upon our return, I noticed the check did not go through. I immediately sent in another check and called. Of course, by this time the payment was overdue by a couple of days. They did not waive the late fee and did not want to listen either.
They don't have the funding any more!
It's been 2 month since we try to close the loan(worst than the timeshare sales rep with delay tactic), after sign the same close docs for many times, finally today they wire the money, but short;y after was told title company have to send the wire transfer back due to they DON'T have fund in their account??? What kind of mortgage company do some thing like this, for sure will sue them if they make me lose the house. Angry Customer
QUIT DOING BUSINESS WITH THEM
If all of us in the industry that are frustrated with Provident would stop offering their product or refuse to participate in a transaction that included their product, they would either improve or go away.
Worst lending company....
As a Real Estate professional I will never use or do another transaction with Provident Funding...In order to get the "great rate" they require a lot of information and most of it doesn't matter when you buy a home. 2 days before I was suppose to close on my new home they kept coming up with conditions...I finally saw the light and fired them. They work for me...I don't not work for them....They provide a service which I hope no one ever uses them...THEY SUCK (sorry not professional) but true...
THEY STALL...STALL...STALL...YOU LOSE LOW RATE LOCK - WIN FOR THEM!
The underwriters are idiots who ask for conditions that are because of their lack of knowledge or inability to understand the docs you give them. You spend days chasing answers just to find out it's their fault and the condition was dropped anyways (without them informing you). Their mortgage brokers take days to get back to you, and are as clueless as the underwriters while meanwhile your rate lock expires because of them. DO NOT USE
Be Careful Of Provident
This is a true story. Just today, I received back from Provident Funding the check I wrote for our mortgage claiming insufficent amount. I called to find out whats going on and I learned that they show I have only made one payment since October of 2011. Of course I went to my on line bank account I was able to print out a copy of each check as well as the time/date stamp when that check clears their bank. Something is seriously wrong with Provident and I caution anyone before using their services. KG
Unfortunately I have my mortgage with Provident Funding. We have had our mortgage with them for 5 years. We have never missed a payment or made a late payment. We live in a condo and are looking to refinance it since we are underwater. They literally said "we don't do condos" and hung up on me!! It is the worst costumer service I've ever experienced. I will NEVER have another loan with them!!!
I wish I had read about these reviews about Provident Funding before going thru with the re-fi. We started on 1/10/12 and as of now we are still not closed. We provided everything they asked for and they said the delay was not their fault??? Just 2 days ago, they sent a revised disclosure saying we have to pay $900.00 more because of the newly imposed G-fee??? Is this even legal for them to do to us?? After the first 45 days the rate expired, they just re-extend without even letting us know???
Do NOT engage in any financing activities with Provident Funding
Inept personnel that request the most innocuous data from an underwriting perspective -- these people are "check the box" folks that have little if any financial acumen to understand the nature of financial information they are reviewing.
Provident is completely non-responsive to replying to information requests which they themselves make -- their lack of speed caused me to cancel my rate lock and terminate my application as they couldn't process a simple refinancing within 45 days
Why people are so upset
The brokers are idiots and dont tell their borrowers what they need as well as all brokers want to do is get around corners. If anyone needs to change its the brokers.
Under Writing is a night mare
The conditions and absurd requests for a self employed dragged on for 5 weeks. Two days before closing they tell us they won't do the loan after they indicated it was fine for 5 weeks. We both have credit ratings well above 800, steady income, superb history and 30% down. They couldn't allow any of my self employed income to be counted, they wouldn't include depreciation of existing properties and the redundant requests for verification of every last source of self employment was crazy.
The worst transaction of my 300+ in my real estate career
How bad is Provident? I will now actively walk away from a sale if my buyer insists on using them. Simply put, I will never go through this nonsense again. Started with bait and switch on pricing, then delayed a pristine perfect loan "waiting" for understaffed underwriting until we were almost out of time. Took forever to get loan docs, then spent 3 days arguing with escrow about one irrelevant detail on the HUD. We ALMOST lost the house, and my buyers earnest money. Never, ever again. Run!
After reading the other terrible reviews, I'm relieved that our refinance never came to fruition. These people ask for the most ridiculous documentation. I'm fine providing documents that I have available, but asking for information about other people's accounts and a death certificate for a person who bequeathed us money is absolutely disgusting. That was the final straw after months of providing them everything else they requested, numerous times. And this for people with good credit.
Fire all the underwriter
Provident had been my lender for about years, i thought it will be easy to do a refinance with them since it is a same lender..my credit score was 800+...after three month i still waiting...worst lender in the world...I send all my document to others lender they approved me within 3 day. Someone in the company should look into it before they go bankrupt.
The worst lender on earth, you should stay away this lender because of not integrity business to process my loan application more than 2 months, then they send a letter to me for denial insufficient income. What kinds of company is that? It should take less than one hour to determine insufficient income but not more than 2 months after many documents request submitted to this lender.
EXTREMELY BAD SERVICE ,UNPROFESSIONAL, RUDE, AND NOT KNOWLEDGEABLE.
Unfortunately I didn't have a choice when I refinanced, if I had known what poor service Provident gave I probably would have cancelled my refi and stayed with B of A. I can't get a simple request met with Provident such as a coupon book. I've called 3 different times, and still nothing. How long have these people been in business? I would refi if it wouldn't cost so much now with the new insurance charges to get away from them. TC
My Mortgage Consultant, Denes Veres, was very helpful, diligent, polite and informative every step of the way. This is my second refi with Provident and I have had nothing but great service. This time is was so easy because everything was done by email and fax and a notary coming to my home at my convenience. I have nothing but good to say about my experience.
Terrible customer service and knowledge
I have never in my life dealt with a more unprofessional team of underwriters, loan consultants, ect. I am an A plus borrower and have been trying to do a refi since December. When my lock expired due to their incompetence, they would not relock at the lower rate when rates went down. The conditions for approval were ridiculous. And after supplying all the conditions they asked me if I would allow them to withdraw my application and start over with a new one. All because they screwed up.
Working 4 months for a simple refi, excellent credit, excellent LTV, by far worst experience I have had in the last 5 houses. Completely ridiculous responses and questions. Do not try to finance with this bank.
Terrible experience with Provident Funding
This is the most terrible nightmare I experienced when we are buying a house. Provident Funding is not a professional firm, they only did three things in our loan process: 1. keep saying sorry; 2. Keep asking documents; 3. Keep picking up some minors mistake ( so called mistake by them) including signature is not clear only for them!!! We are A customers with 20%down and steady job. our loan process is delayed at least 2 weeks so far....Nothing to say now!
Purchased a home through them
My wife and I just finished financing our home purchase through Provident Funding Associates and the experience wasn't that bad at all. We worked with Bill Lopez who was very helpful throughout the whole ordeal and talked us through the process. There were conditions that they said we needed to address but that was expected... The appraisal process wasn't too bad (though we had to fix a window to pass) but overall I was pretty happy with them. Their rates beat out Quicken that's for sure.
Worst Mortgage Company
Horrible customer service. I've had an open case with them for over a year now and they still have not resolved it.
Basically they fail to credit your account when you pay it. If you do pay extra, they won't credit it until the 1st of
the following month. Never had any luck getting hold of someone on phone.
Beginning rate sounded good, but the fees were terrible. They sold us off in one month to Fannie Mae.
Poor Customer Service
3 times I have tried to call and ask for a manager. 3 times I have left a message an nobody has returned my call. They they email me a canned response and close my case. Worst customer service you can ever get.
Do not do business with Provident!
They refused to help my mother who's just been widowed and lost her job. My husband and I moved in and have helped her pay her mortgage though we're barely making it living paycheck to paycheck. Under these circumstances and with all the government programs that are available, they won't help us. They don't offer the HARP program either. They are the most inconsiderate, coldhearted, blood/money sucking vampire mortgage company that ever existed! We are now considering on walking away from this house!
A dis-service by customer service
An error was made with processing the ACH on my account. The phone rep could see what had happened but still insisted he could do nothing to fix thier issue. As a result of the error I was charged a late fee. They would not reverse the fee, they would not take a payment over the phone without charing another $15 fee. I hope I never had to talk to coustmer dis-service again. Just setup ACH and forget about it. Rates were the best around but you almost have to give a DNA sample to get a loan.
THE WORST EVER.
Trying to refinance with no cash out,that is with about 50% of the appraisal value,event with a good credit too.
It's been a long and aggravated months(since middle of November),but i'm going to tell my Loan officer to stop today(feel really bad for her).
We signed our closing Doc. more than a month ago,our first payment supposed to be 03/01/2012.I just found out last week that they did not do the funding and have to
redo everything because all the papers are over 3 months old......DA...
Provident funding is the worst company lending to process the loan application. During 2 months they continue to ask and submit all documents need to qualify for the loan, update after update, and then they finally send a letter to disqualify the loan after waiting and supplying all documents for more than 2 months, what is wrong to this company? If this loan is disqualified, they should tell us within a week not for more than 2 months. I recommend to stay away this company is good for you.
Provident for Brokers is by far the benchmark for pricing. I've read some reviews that suggest that consumers, working with incompotent brokers, are not being informed as to WHY all the documentation is necessary. You have to look no further than GSE Freddie Mac to understand that an A paper file, submitted on the secondary market, must provide painstakingly detailed information for your mortgage to garner the favorable rate you expect. Documenting a file shouldn't be so painful if you understand WHY.
DON'T GO THERE!
Terrible company! If you want your loan closed nice and quickly - better go somewhere else! My son is a computer programmer with a solid job history. He got another job with a bigger company and better salary. We could not clear his pay stubs for almost 2 months even though they require only 30 days of employment history. They have constantly been changing the rules of the game: "We need one more pay stub". Two week later - "Uhm..No, one more!" Two weeks later - surprise! - "Oh, no, One more plese!" DON'T!!
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.
Provident Funding Stinks
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.
Bait and Switch - close to criminal
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.
Great as long as no deviation from their standard procedure
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
They will not let you re-finance your 1st, if they are the 2nd.
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.
Extremely hard to get loan, fees rip off
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!
Absolute worst lender in the free world.
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
Do NOT use Provident Funding
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
Worst Company I've ever experienced
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.
Provident Funding mortgage consultant Ali Thompson is no good!!
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!
Refinance with them in 2010, but now refinancing with WEI totally differnent experience - STAY AWAY
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.
Provident Funding is obviously incompetent !
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 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!
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 didn't have any problems
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.
Run as fast as you can.
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
Low rates + AWFUL CUSTOMER SERVICE AND ETHICS
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.
My #1 wholesale lender
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.
Horrible refinance experience with provident funding
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.
Never Use Them
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!!
service and late payment penalty
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 ..
incredible rates. underwriting process worst nightmare
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
Stay away from this company !!!
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.
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!!
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.
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!
Worst mortgage refi experience ever!
Do NOT Use Provident for a Home Purchase!
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.
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. You 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 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!
Provident Mortgage Funding Helped Refinance my Mortgage with Good Service
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.
So far so good
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.
Worst company, stay away if you can
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!!