Because my husband was laid off and forced to take a lower paying job, our mortgage payment is now over 40% of our take home pay. Provident refuses to communicate to us the criteria on which they decided it was, "Not that hard for us to pay our mortgage". We cannot continue to pay this amount. We have no more savings. We are appealing to our congressman for help.
Consumer Complaints & Reviews
I had been laid off from my job. I called Provident concerning mortgage relief. On my initial call, I was told that I could not request mortgage relief until we were delinquent. We were delinquent in 3 months and were told that we would have to catch up before we could be considered which we did. We tried 3 different times for mortgage relief and were never approved for whatever reason. These people have no interest in helping anyone out. I would never do anything with them again! There should be a way to put this type of company out of business!
We received a notice from the Harris County Tax Assessor on January 19, 2012, stating that our 2011 property taxes had not yet been paid by the mortgage company. Upon further investigation, I discovered that my school and utility district taxes had not been paid either. I immediately called the customer service department at Provident Funding and was rudely told that there had been a change in "company policy" and that all tax bills would now be paid mid to late January per the due dates on the respective tax statements. I told them that the money to pay the 2011 taxes had already been collected and that they didn't have the right to make that decision without my consent. I asked why I hadn't been notified of this change in policy and was told they weren't obligated to notify customers because the taxes would be paid on time according to the due dates on the tax bills. I have always been notified of changes in terms to my credit card and bank accounts by mail and email, so I would assume they are bound by the same regulations. When I asked the representative what Federal and State agencies regulate their business, I was disconnected.
On January 31st, the date all the bills were due, the payments had not yet been made. Once again, I called Provident Funding and this time was told the money from escrow had been disbursed to a "third party" who would electronically submit the payments by the 31st. They refuse to disclose the name of the "third party" and as of Feb.4, only my utility taxes have posted as paid. I will not be able to deduct 2011 taxes on my tax return this year as a result of their unethical and I am assuming illegal activity. I have filed complaints with the BBB, the California Attorney General's office, and the Federal Trade Commission and hope others will do the same.
Provident Funding does not want to work with anyone about trying to reduce payments for hardship cases. They don't want to work with Obama Keep Your Home Program! Don't get a loan with these monkeys! Run get out! They suck! They don't listen they are out for themselves only!
Why does Provident Funding charge a $15 online payment fee in this internet age asking customers to mail in checks for one time payments? Isn't this a rip off?
I called today, 1/17/12, regarding my year end statement. The customer service agent's name was Vicky. I told her the purpose of my call today. She said it will be mailed out by next week. I asked her "oh, okay, so you didn't it mail out yet, right?" She said "it will be mailed out by the end of next week", and her voice was very annoyed. She was very annoyed from the beginning (when she asked me for my info, for verification). I asked to speak to her manager, and her immediate response was "what for?". Is that how you train your customer service agents? I informed her that I need to speak to her manager, regarding the service I just received from her. She replied, "what about it?" Now, I am angry and she added "we do not have a manager, and we have a very high volume of calls now".
I said to her, "so, you expect me to just hang up, since you have high volume of calls?" She said, "I never said that, you want to speak to my manager because I told you that your end of the year statement will be mailed out next week? My manager will tell you the same". At this point, she is raising her voice at me. I told her that I don't appreciate the tone of her voice, and not because I don't have my year end statement". As I am trying to explain why I am so upset at her, she cuts me off many times. She never apologized to me, and told me that Peter is her manager. Again, as I am speaking to her, she cuts me off and said, "I will get him". She puts me on hold and hangs up.
I realized on Dec. 30 that I hadn't received a receipt for my city taxes, something that is typically taken care of by Provident through my escrow. After calling the first time I was assured that the payment was in process. I called back a second time to clarify that yes indeed it was being processed by end of year, just like the prior two years. I was informed that there was a new "policy change" and all taxes were now being paid by escrow in mid-January. In order to claim this on my 2011 taxes, I had to cancel my tax escrow over the phone, move thousands of dollars from savings into checking, and stand in line at city hall on New Year's Eve. When I asked about when/where this was communicated, I was told "it wasn't communicated". It's nice to know that something that could have cost me $1000 plus on my taxes this year didn't warrant any communication.
On Dec. 30th I mailed a letter asking for a refund; it's the only way they would process a refund besides a fax which I don't have access to. It's January 10th and I hadn't received anything, so I called back. Customer service was able to find my letter (after I asked them twice to look further in my records). I asked if the refund had been processed and I was told that they would be forwarding it now to be processed and I'd get it in another 7-10 business days "or so". When I asked to speak to a supervisor and file a formal complaint about their process and lack of customer communication I was told I could have a fax number to fax a compliant.
I said that that a fax was unacceptable and I'd like to speak with a supervisor. I was told that all of the supervisors were in a meeting but I could get another 800 number to call someone back later. It's absolutely unacceptable to me that I can have a loan for hundreds of thousands of dollars and I cannot even get on the phone with anyone who has any true authority. I will be refinancing.
We tried for a loan modification approximately 2 years ago. After sending in the paperwork at least 3 times, because Provident Funding said they never got it, we didn't fill it out correctly, didn't mail it in before "their" deadline, etc. Needless to say, we never got it. One of the reasons for the modification is, because my husband ended up with metastatic colon cancer, and the bills from the doctors and hospitals were getting out of control, and we just couldn't do it anymore. Bottom line is they didn't give it to us because "we didn't quality", so naturally, in the meantime, because we couldn't pay the mortgage, we defaulted and they foreclosed our home.
They are a horrible, heartless and a corrupt corporation. During all this time, we had a wonderful real estate agent helping us, and he put us in touch with the Hardest Hit Fund in Florida. Thank God, Hardest Hit Fund came through for us, and we will be able to stay in the house for at least a year. What has us worried is what happens when the year is up. My husband is not getting better and the bills are still coming. But since the Fund came through for us, Provident Funding/Freddie Mac got their money anyway, and through all of this, we were ordered to go to court with a mediator with Provident Funding/Freddie Mac. If we didn't go, we would be held in contempt. But as soon as they got all their money from the Hardest Hit Fund, they cancelled the hearing.
So here we are still without a modification, or lower interest rate, our credit rating, because of them, is now down the tubes, and there they got everything they wanted. My husband and I were looking forward to going to this meeting, thinking that maybe we could settle some of these issues. It didn't happen. And then, on top of all of this, our homeowners and flood insurance were dropped, so we had to put $1,200.00 on our charge card. Mind you, when Hardest Hit Fund brought us up to date, this insurance was paid to them, because this insurance is included in our mortgage payment.
I'm sure we will never see that $1,200.00 again, and Provident Funding/Freddie Mac will probably have a wonderful lunch on us. Something definitely needs to be done about these people. We bailed them out ,and their CEOs and CFOs, etc., got their million dollar bonuses, and all my husband and I got, was a lot more heartache than we certainly don't need.
We now have a shot credit rating, we will only be able to stay in the house for about a year, many, many, sleepless nights, aggravation, and I think this is enough to put anybody over the edge.
We are working on refinancing our current mortgage loan through a mortgage broker in Scottsdale, AZ. Our broker is terrific. Provident Funding sucks. It is absolutely the worst lending experience of my life. Our broker has been trying to reach them for almost 10 days. They don't return calls, and they don't return emails. Calls to the local managers go unanswered. Calls to the corporate office in Burlingame, CA, don't even get answered. It is unreal.
They have great rates, but that is because they have horseshit customer service. I would love it if the president of this lame company had the balls to a) respond directly to this email, b) have somebody actually answer the phones in their corporate offices, much less their local offices here in Phoenix, and c) have the integrity to make some changes, as I have always heard nothing but complaints about their customer service during the loan process.
Because of their complete lack of communication with my broker, I am losing my lock. Way to go, Provident. Jerk offs.
I refinanced in February 2010 and my mortgage processing was taken over by Provident Funding. As an accountant by trade, I methodically pay my mortgage 9-10 days early. From the very beginning, I noticed that the checks were not being cashed until very close to the late date. This was on a consistent basis. On November 2010, I mailed out a mortgage check seven days before the due date and I received a penalty late fee for $78.90. I confronted Provident with this problem to reverse the penalty as well as to stop the late cashing for future payments. But they were adamant about not bending on both issues.
In March 2011, after I mailed a check 15 days earlier, I once again checked online to see if the check was cashed and it wasn't. I had to call them up and stop the payment at the last day and pay electronically online. I had to incur a fee from Provident as well as a fee from my bank for the stop payment. To rectify the situation, I signed up for the automatic withdrawal because I don't have the time to go online and keep checking if a check is cashed. Even after doing that, they still would not reverse the penalty.
In my opinion, this organization should be investigated for either being incompetent in their processing of payments or they have a problem with their mail. Either way, a lot of consumers are having this problem (I verified that by witnessing others complaints). I can easily pay the penalty, just as easily as Provident can waive it. But it's a matter of principle. They could look at my stellar credit history, what I did to rectify the situation and do the right thing. Once again, this bank is either trying to rip off their clients or are incompetent. Either way, I am filing this complaint.
After dealing with Provident Funding and reading all the negative reviews, I can say with 100% certainty that this is not a firm you want to do business with and with all that I have read, it scares the heck out of me.
My experience is the same as someone from 2010 with a bathroom remodel. My refinance would not go through until the remodel was complete. This is an absolutely ridiculous requirement. Did you ever think maybe having a little extra money from a refinance could pay for part of the project? I would imagine that there is some kind of kickback going on with keeping appraisers in business. Needless to say, I refused to go forward with Provident. I would not give them my business if they were the last lender on earth.
I hope the reviews out there on this firm have hurt their business. It certainly helped me stay away. Thank you to all who have written about them. You may have saved me from making a horrible mistake. My broker said that they would pay to have the appraiser come back after the project was completed.
I pay my mortgage via mail approximately 8-9 days ahead of time. Now, we refinanced with them just recently and they stated they did not receive our payment. Well, they did receive our 01 Aug 2011 payment on July 22 with check # ** for $1,517.14 written in the box. Actually, I made a mistake in writing it out as "One Thousand Seventeen and 14/100." The actual payment is $1,517.24! Since they received this payment, they applied it to principle reduction instead! I received no call with regards to the "error" I made in writing out the check and them receiving the check "9" days prior to due date. So now, I have incurred a $75.66 late fee.
They did write me a letter on 16 Aug 2011 to tell me that I didn't make my August payment. That is untrue! I made my payment early as I was leaving the U.S.A. on vacation. Do you think they could have called me regarding discrepancy? Why did they apply this $1,017.14 towards my principle? So, as of today, I spoke with Reese and I owe $500.10 plus $75.86. They seem to be able to generate a letter dated 16 Aug 2011 to tell me that I owe them payment. I will also generate another complaint in regards to the 3-day loan process to rescind my loan! I paid $500.00 upfront for the initial start up of the loan and I never received this back from Kyle **! We went from a 30-year mortgage down to a 15-year mortgage and paid off $60,000 on our mortgage. I have never jumped through so many hoops with an excellent credit rating! I kid you not! Go elsewhere to get your mortgage!
Regretfully at their mercy,
Marlene **
Close to the end of 2009, my husband's hours at work dropped drastically. So in April 2010, I applied for a loan modification at Provident Funding. I was denied because my DTI was less than the required 31% noted in the requirements of the "Obama's Loan Modification Program." I then acquired an attorney but I continued to receive denial notices. I continued to send in information to receive a loan modification even though I was denied every time.
In April 2011, I sent in another request for a loan modification and was once again denied. But this time, it was because my DTI was over the 31% requirement. As stated in the notice, "borrower (is) not in imminent danger of default." I called Provident Funding a multiple times and was told that I do not qualify for the loan modification program. I have read all the guidelines of the program and the last time I sent in my information, I qualified on all aspects.
On one specific occasion, I was told by Provident to just short sell my house. I told them that I wouldn't have a place to live and they were supposed to help me stay in the house. They then asked me if I had a second home. I told them, "No. I only have one home." I was then told, "Well, you have a second mortgage so you have to have a second home." I told the person on the phone that he must not have been in the mortgage industry very long because you can actually have a second mortgage on your primary residence.
I got the assistance of the HUD Housing Counsel and asked them about the guidelines on loan modification. They stated that the guidelines require the mortgage payment to include any principal and interest. I explained to them that I have an interest-only payment. They then advised me that I would have to determine what my principal and interest payment would be. I called back the mortgage payment and they continued to say that my principal payment is "0," so they don't have to consider it.
This is very frustrating and we feel that we are being discriminated against because we've been able to pay our dues before they are 30 days late. The only reason we have remained current is because we have had money in savings, which are all gone. So now, we have had some late payments.
July 11, 2011 we applied to Provident Funding for a Mortgage Modification per "Helping you Stay in Your Home" Program. We have owned and lived in this house since 1974. We paid $47,000 and the home is worth more than $1,000,000 now.
We submitted all information required. We were requested several times to submit additional information, the last request July 22, 2011.
I am 80 years old, my wife 74. Our total income $3,000 Social Security jointly. Our mortgage amount is $1,241. We were certain we would qualify. We were notified by phone July 24th that because we had always kept our mortgage payments current we consequently did not qualify. We attempted to explain that we were seeking the modification to stay current. Basically Mr. Cropper said "too bad," contact us when you are in default.
I believe Provident Funding has no intention of ever modifying a loan if they can help it. I have discussed this situation with several other families and they have all had the same results, not with Provident but with their lenders.
Have applied for a Loan Modification twice after losing my job as a real estate appraiser and taking a lower paying job. When I caught up on 3 payments the first time, Provident withdrew my request for a modification and said I needed $500/mo. more in income. I was able to evidence that 3 months later when I was, once again delinquent. They denied me again even though I met the criteria they required on the first request. I have substantial equity in my property and have been there 25 years. I believe they are refusing to modify my loan due to my equity position. They laid their requirements out and when I met them, they refused again.
Every 9th of the month, I mail my mortgage payment to Provident Funding in Santa Rosa, CA. It is late after the 16th of every month. This is the third time I have been charged a late fee. It does not take 7 days to get to California. About the 4th time, I have been charged and they will not waive the fee. I cannot send it until the 9th because of other bills. If I pay by phone, there is a charge. No matter what, they get you!
I wanted to refinance my home again (this is my third time) to take advantage of the new low interest rates. I also requested $4000 extra on the loan in order to remodel a bathroom. After jumping through multiple hoops for this company (many were ridiculous, redundant, or damn near impossible) we finally got to a closing date. One of the hoops was that I needed to refinish the bathroom in question before they would loan! So, within about four days I had to do a complete bathroom remodel without the funds to accomplish this.
Many of their requirements didn't make sense at all. Finally, against all odds, we actually had a closing scheduled. I found out at 11:00 AM that I would be closing at 3:00 PM that day. I signed the refinance documents at closing on the 23rd of Dec. I just knew it was too good to be true, as today (27th of Dec.) I get a call saying Provident needs to verify my employment by tomorrow (28th) or they can't fund my loan. Huh? I thought everything was done and we had closed or was this a dream? Anyway, the problem is that I work for a school district and they are closed until the end of winter recess which is Jan. 3rd. Provident was told about this weeks ago and encouraged to do their verification ASAP as we were heading for our winter recess.
Today, they (Provident) state that it is their policy that they verify again within 72 hours of closing. Can they really do this? Can they throw my refinance out the door despite all the documents being signed and closing completed? I'm lined up to talk with an attorney about this, but just wanted to give fair warning to anyone else who may fall into their web. They are a royal pain in the you-know-what to deal with. If they can actually pull this stunt, I will have lost out on the great interest rates I would have been able to get had I either been able to get this loan I've already completed, or had the time back I've wasted with Provident to go to another mortgage company (and there were many seeking my business).
I have no business relationship with this company. They have been making telemarketing calls to my number and will not cease to call after repeated requests. They are in violation of the "do not call registry" and do not care. They have been wasting my time and energy.
Yes, these guys are horrible. I hate the fact I went with them for my loan. I tried to get rid of my mortgage insurance and they did an 'appraisal' which put my house at $360k. My builder still sells the same model at $400k and I finished my basement, had a ton of add-ons, etc. It also listed my sq. footage at 2800 when it is really 4800. I called and they basically said there is nothing I can do about it. They just want to rip people off by keep charging mortgage insurance because no one can stop them. What a bunch of freaks. I hope to just refinance soon with a different more ethical lender.
We had a 15 year loan with Provident, with which we had very good service and no problems with payments, etc. Due to declining interest rates we decided to refinance with Provident, using their online application. We were assigned Kyle ** as our "mortgage consultant". During our first contact, I advised Mr. ** that I am fairly familiar with the mortgage process. He provided a GFE, which I reviewed and advise contained multiple inaccuracies. He responded it was merely an estimate, which I understand. However, I requested the "estimated" figures be corrected to more accurately reflect the amounts that had been verified. For example, in the state of Kansas, a mortgage stamp tax is applicable for each new mortgage unless the borrower refinances with the same lender. Then the mortgage stamp is not applicable as it was paid on the initial loan.
Mr. ** refused to remove this from the GFE and this amount was listed as an expense to the borrower even until closing. Since our existing loan was with Provident, I asked Mr. ** to verify that we had previously paid this tax and it would not apply to the refinance. He initially refused saying that, if the previous title company had failed to accurately record the lender information with our county, the tax would be due again. I reminded him that Provident was our current lender and that he could simply walk down the hall to another suite at the office location where he worked to verify how the loan was initially processed. It was only after I contacted a supervisor that I could get this information verified.
After this, I received an email advising the mortgage tax would not be applicable. While the GFE is merely an estimate, it would not hurt to have it as accurate as possible.We also elected to obtain our own title company because we were able to verify that one of our own choosing would be hundreds cheaper (guaranteed rates) than the "estimated" figures (which could have increased as much as 10%) provided on the GFE. We provided Mr. ** with the local title company's contact number and address as well as the name of the individual (Nichole) with whom I had spoken. At closing, Nichole advised she had had much difficulty making contact with Mr. **, but we had the documents in hand. When it came time to close, we met with Nichole and got all of the documents signed, including the required three-day right of notice to cancel.
The closing documents were executed on Friday and overnight to Provident. On the following Wednesday (the day before Thanksgiving) I received a call from Nichole at 3:46 PM C/1:46 PM P. She advised that Mr. ** had just contacted her regarding a delay in reviewing the documents, which meant Provident would be unable to fund the loan until the following Monday, which was no big deal since we were simply refinancing and not moving anywhere. She advised that her office was closed the day after Thanksgiving. However, at 7:36 PM C/5:36 PM P, Mr. ** sent me an email advising that he needed new documentation signed and that I would have to deal with him to make the corrections. What I am unable to reconcile is why he waited approximately 4 hours to make this contact. Moreover, he has no less than four different telephone numbers at which he can contact me, yet he made no attempts to telephone or contact me.
The big mistake needing corrected, one numeral in the date following a signature contained a crooked line. In his words, "the second '1' in '11' of your date". Thus, the date is legible, but the whole loan is being held up because someone's handwriting is not perfect. He did not address why he delayed in attempting to contact me until evening hours on the day before a federal holiday. When it was likely that nothing would occur anyway. These are just two detailed examples of issues occurring during this process. Two others, less detailed, were queries regarding the address of our house (remember we already have our existing loan with Provident).
We had to verify our address because one document contains our street name followed by the word street, when the word street is not part of the name. The explanation was that this was necessary for title and insurance purposes, but title insurance and homeowner insurance (through our insurer) are assigned to the legal description of the property, not the street address. Another hassle was providing legal proof of my wife's name and birth date even though she is the co-borrower and co-owner of the loan we already have with Provident. While Provident may have great rates, their service is pitiful. It is a waste of time to provide telephone numbers because they do not get used.
I am seeking assistance for a late charge applied to my November payment and the company refuses to remove. Due to attending school, I am not living at the address of the mortgaged property, however, Provident funding has my current address. Apparently, my mortgage payment went up due to an increase in my property taxes. I was not aware of the mortgage increase. I paid an increase payment last month, but I thought it was because of changing my homeowner's insurance and the cost was applied. I was unaware of the property tax analysis that was completed on my account, which increased my payments. I learned of this when I called in trying to get the company to remove the late fee. I sent in my normal payment by mail and the company misapplied the payment. By the time they corrected the misapplied payment, it was after the late fee cut-off. Now I am charged a late fee because they applied the payment after the late fee cut-off.
The customer service representatives are snide and condescending. It is unbelievable that they get to even call themselves customer service. I asked to speak to a manager and the male told me that there was no one above him. I requested another department, he told me there was no other department. I don't think this is fair that they can do this to people but I know it is done all the time. I am grateful that I have and had the credit to purchase a home. I find the behavior in which this late charge was applied to be nothing less than mendacious behavior on the part of the company. The customer service representative literally told me there was no one who could help. My credit score is in the high 700s to low 800s. I did not achieve this by not paying bills.
I am currently in my last year of school, thus every penny counts. Nothing is more frustrating, especially in these times in dealing with representatives with caustic and repulsive manners.
After having some life changes, I called Provident Funding to see if I could get a loan modification as to which I was told I did not qualify since my account was in good status. Some months I was a little late in making payments and they stuck me with a $39 late fee, which they would not remove. I have been in this house for 14 years without being late! Then it seemed I was receiving late statements every month. Although I was sending my payments in the mail by the 8th of each month, but for some odd reason they didn't receive my payment by the 15th?
I could drive it there myself in 2 hours, but it doesn't get to them via mail in 7 days? That's odd. My mail is being sent to another address to which I called Provident informing them of this, of course there is no such thing in their records. They sent a letter out stating my payment had gone up by $8, being mailed to the wrong address. Now they refused my latest payment since they said it was short and then charged me $39 late fee? I paid electronically so they couldn't say they didn't receive it on time anymore. It seems they just want to stick it to you no matter what. The reps are not friendly or helpful and will not work with you. This is a horrible company!
My husband and I have been challenged financially, just like everyone at this time. I am a H.S. teacher and my husband was a courier for FedEx. Almost two years ago, we started the Making Homes Affordable route with Provident to try to stay in our home that we had become attached to and invested in for almost five years! We went through a process of paperwork, paperwork and more paperwork. The company lost our paperwork multiple times! After almost a year of trying with all our effort to get some help, Provident Funding stated that we were not qualified for the program. After working the figures, I realized that my husband and I made about $100 too much a month to qualify for the program. I wrote a letter to the White House complaining about the program and how it is just not helping anyone!
Next, we tried the modification route and were approved after a lot of red tape once again. The issue was that our payment went from $2,700 per month to $3,000 per month! How is this supposed to help a family when the payment goes up? But we wanted to keep our home so we gave them about $10,000 that we had saved while not making our payments and went ahead and made the $3,000 payment. Then, my husband lost his job at FedEx and I, being a CA teacher, got a 5% pay cut.
Our next route was short sale. We had three offers in three days on our home and got a pretty high offer compared to comps. in the area. What does Provident do? They accept the short sale offer with one contingency: they wanted $20,000 from us! As we found out, the main issue this entire time was the second that we were forced to get when we purchased the home. They wanted it all from us! So now, we are awaiting foreclosure unhappily realizing that our two boys of 2 and 4 will have to live in rental for the next three to seven years until our credit is good enough to buy again. And yes, our credit scores were also in the 600-800 range only two years ago! I am so sad and angry at this company and the state that our world is in right now!
We applied to refinance our mortgage loan (which is currently with Provident Funding Ass. and has been for the past 3 years). We were approved based on our 738 credit score and 7 weeks of in depth qualifying by Provident Funding. We finally closed the loan, signed all documents with the settlement agent and thought we were finally done. After the 3 day right of rescission, Provident decides to again verify my wife's part time seasonal job at a local pre-school. She earns $4000 supplemental income a year, and changed jobs 3 days after signing the settlement papers to pursue grow her existing business. Provident used this as an excuse/reason to deny the loan they approved us for and we signed closing papers. Is this legal? Oh by the way, the also took $500 to do an appraisal which we are SOL on. If an attorney happens to read this and feels I have a case, please email me @ **@gmail.com.
Please help! Well, I finally got a response from Provident! They sent me a demand letter (almost threatening). I now owe them over $800.00 in late fees. And they were going to pursue me with the extent of the law until they collect that $800.00 of late fees! How do they expect you to pay late fees when you cannot even make your loan payment? I finally found someone who is trying to help me get a FHA loan (I still don't know yet). But during this process, I had to have a new estimate on my home. I found out I had over $65,000.00 of home equity in my house but have been turned down by Provident for a re-finance.
Just maybe, that is the reason why. Instead of helping me, they would just love to get their little claws on my home to reap the benefit, and I lose everything I have. They don't give a ** about any of us other than getting their money one way or the other, almost like the mafia! Where is Obama now, with all that loan money that was to help us, instead the banks? Where is the law now to protect us, the home owner, from people and corporations like Provident Funding?
This company is holding customer's mortgage payments until after the late charge is assessed (after the 16th). My payment was mailed from Kingman, AZ to Pasadena, CA on 7/7/10--they didn't post it until 7/19/10. They claim that they posted it the day they received it. There is no way in the world the mail service took that long to get the payment from AZ to CA. All previous 3 1/2 years worth of payments have been posted by Provident Funding within three days of being mailed.
I asked them to check my history so they know I'm telling the truth and to please waive the late charge. They said they don't care when it was mailed and they don't go by the post mark. They will not under any circumstance waive the late charge (it's company policy). The only proof I had as to when it was mailed was the post mark on the envelope which they won't go by anyway.
In researching other complaints about them on the Internet, it appears to me that this situation happens quite often and the dishonesty of fraudulent late charges needs to stop now. You would think that they would be appreciative of the good customers they have and treat them with a little respect to resolve the situation they themselves caused. My excellent credit score that I have worked hard to keep up for over 20 years is now in jeopardy.
I sent house payment as usual on 2/5/10. They lost it. I received reminder to pay 2/18/10 + late fee called. I got no cooperation. I walked payment into post office same day and they lost it. I tried to pay by electronic check from my bank. They refused it. I tried to pay by electronic payment from them to my bank. They refused it. Finally, I had to agree to a Western Union payment. They set it up which it took several days to finally go through.
They told me to stop payment on my allegedly lost checks which I was charged $25 for. When they finally found the 2nd check (almost 2-1/2 weeks later), they charged me $25 for stopping payment even though I explained I was told by their collection dept. to do so. I finally contacted a Broker friend of mine and ordered a new mortgage company.
I closed on my new loan today, and tried to call Provident (Kim, who never returns messages anyway, she was busy the other manager, Michael was also busy). This was the routine I went through for almost 7 weeks, calling every day and speaking with reps. that were rude, disconnected you, gave no advice and were generally totally disinterested.
Even had one tell me they were contacting the credit bureau to report me, and that I faced foreclosure proceedings even though they were the ones refusing my payments and losing my checks. They never did find the first one. The second one that they charged me for came in the mail about a week after they finally processed my payments for Feb and March through their Western Union connection. This company is the worst lender I have ever dealt with and I would highly recommend someone look into their business practices and their lack of trained personnel.
In April 2009, we processed a loan through our broker - which was through Provident Funding. I received a were happy to have you as a new customer letter not long after. I called and asked if I could convert my loan to a bi-weekly loan which is what I had requested from the people originally doing the paperwork - but was told to contact Provident. I was told we don't do bi-weekly plans but what you can do is go ahead and send it 2 payments. Just make sure thought to make the full amount payment on its due date and we will put any extra towards your principal.
So since the payment amount was for $640, I went ahead and made a payment on its due date of the 1st for $700 and another on the 15th for $700 doubling my payments. The letter I received dated 4/8/2009 stated the same thing and no where did it state you had to check what they were doing with the funds or write them a letter telling them what you wanted them to do with your funds.
December 2009 came around and I wondered why we had not received any statements or anything, so then I decided to wait it out a little longer til' after the new year to see if I would at least get an end of year statement which of course never came. I decided to review all my paperwork where I found I could access my account online.
Once accessing the account I found that my loan had only been paid down by a little over $2000, so I immediately called them to inquire about the nearly $8400 in extra payments that had not posted to my account and the person on the phone stated how I was not due to make a payment until Feb 2011. I told them they were not suppose to make me ahead in payments but to put the money towards principal. They stated in 24 hours they would rectify the situation - and 48hrs later nothing had changed, so I then called them and they said they were working on it another week goes by only to be told they now have to get approval from Freddie to reverse the payments. Another week - 1.5 weeks later, I was told that Freddie Mac had denied my request and that there was nothing they could do!
So basically, they are making money on me both in finance charges on my loan that was not paid down and making money on payments that they have sitting in limbo collecting interests in their own banks! I am being charge extra finance charges and losing money on my own bank interest had the money I have sitting in their 1year advance, nonsense was in my own account growing interest for me instead of Provident!
We are writing this to advise you of the difficulty that we have been having with our mortgage company, Provident Funding. In April 2009, we were told that we did not qualify for any type of assistance in our financial hardship due to the fact that we had always been current with all our financial obligations but we foresaw in the near future that our situation was going to take a change for the worse. With the economy taking such a large downfall, we did not know how much longer we could hold on.
When we notified Provident of our situation, they asked us for multiple documents which we provided within 24 to 48 hours of being requested. Once Provident received all of the documents, they continued to deny our request and told us that if we wanted a modification that we need to fall behind on our monthly mortgage payment. Then they would help us through our hardship.
In July 2009, we were told that our account had been sent to the loss mitigation department for further review for the Home Affordable Modification Program. Once again after following all the advise of Provident representatives, we found ourselves to be in a bigger financial hardship than we started in. In August 2009, we were served a delinquency notice stating that they were going to foreclosed on our property in August 2010.
After many attempts to resolve this issue, it has only resulted in disappointment and lies from Provident. We have spoken with supervisors and managers in the loss mitigation department and every other department that we have been directed to. They only asked for the same documents that we have sent to them on multiple occasions. This seems as if they are just prolonging the situation until they can foreclose on our property.
With all of this said, I am an inactive licensed real estate agent in the state of New Jersey and am fully aware of all real estate laws and regulations. We are now turning to you for help with the fight to save our home and become financially independent once again. I am 53 years old ,my significant other of 21 years is 69 years old and we are doing everything possible to keep our home. Before all of this has happened, we had almost perfect credit and now our creditors are raising our interest rates and monthly payment amounts. We have been turned down for the HAMP program four times all for different reasons. Please help us find the right direction to take to get Provident to cooperate with us to save our home. Thank you in advance for your time and consideration with regards to this matter.
My regular fire/hazard insurance failed to send Provident Funding an invoice. I called my insurance for them to do so. Neither my insurance, nor Provident Funding informed me of the failure, until a year later. I received a bill from Provident Funding. They state on the bill that because I failed to provide them with proof of insurance, they went and purchased a policy for me. The problem is, this policy is about 850% higher than my normal policy!
I called and complained about the rip-off. "Too late", they said, because this gold policy that they purchased for me had been in affect for almost a year! I asked why the outrageous difference in price? Provident says this is the insurance company they do business with, and that is how much the policies run for. I asked why they hadn't informed me about the lapse from my insurance until a year later. They said they did a year ago, and it was my responsibility to be sure my insurer had done so. Whose best interest do they act on? Their clients or the mighty dollar? Who gives them the right to purchase such policies at such rates? We wonder why this nation is in such trouble. I was barely staying above water, now I have a hefty bill to pay on top of my regular payment. Anyone out there with Provident Funding, watch your account closely, and be certain this doesn't happen to you. It could cost you thousands, and Provident doesn't care.
I pay thru Bill Pay on the computer and the run the check thru my account by the 8th of each month. Well this month on the 12th I noticed it had not gone thru my account yet so I called them. First it was because I needed additional flood insurance (which they have my impound account) and I stated you send a house payment back because of insurance when I got a letter that you added it on and removed it the same day becauce we increased our flood insuance. He replied oh it is because of gap again I said so you sent my house payment back! Oh no it was the wrong amount! Well I sent the same amount I have been sending it automatically pulls a check. Oh what name did you put on the check? Again I put the same name I have been Putting on the Checks Provident Funding. He wanted to take a payment from my account directly with no charge. Normally they charge 15.00 to do this. I told him I have not gotten the check back yet and he said it was returned on the 6th. I didn't do the check at this time and the check was in my mail box when I got home with a letter stating they are returning the check because it is the wrong amount. The letter is dated the 6th and their postmark is the 9th of Nov. the 11th is a holiday and I truly believe the were hoping to get a 15.00 fee for a check to be pulled out of my account or late fees on the payment. I don't know if this company is doing this to any other customers so I want you to be aware just incase this is becoming a practice in these desperate times.
I would like to file a complaint and seek settlement/restitution for unlawful and unethical proceedings imposed upon me by the lending company Provident Funding. As with many Americans, my business and income dropped substantially due to the economic crisis. I am a single father with a daughter 11 years old and have owned my home since 1993 and have never had a problem making a payment until recently. My income had been cut almost 50%. Struggling to hold onto my business and home I began to fall behind in payments.
I called Provident Funding to see if I could obtain some sort of assistance to keep current. I asked if the delinquency could be rolled to the end of the loan. I was told "No". I asked if there was a program I could get into to help. I was told that "Nothing could be done at this time due to not being 60 days delinquent and that they offered not programs yet. That the Government would be offering a plan in the future. To check back in two weeks." I did, and no plan was available yet.
As I continued to struggle and fall behind, I waited over two months before a plan became available. During this time Provident Funding offered no assistance in saving the loan. I fell two months behind in payments. I continued to struggle to bring business in and ride the economy out. To keep from going 90 days delinquent, I sent my payment by using Provident's online bill pay. August 30, 2009 I was denied use of the online bill pay. So, I over-nighted the payment by FedEx the following morning. At this time I figured I was all right by not passing the 15-day grace period.
September 28th I received the payment back in the mail. Provident refused to accept the payment even though it was a full payment including late fees. I immediately called Provident Funding to ask why my payment had been returned. The representative for Provident told me that they required two full payments. I informed the rep that I would have two payments to them within 5 business days and asked that he put a hold on my loan to keep it from foreclosure. I was informed at that time that it had already been sent into the foreclosure department.
I had not been notified by Provident by either phone, e-mail or letter on the status of my loan. I informed Provident that I wanted to pay but was told that I would have to wait until legal fees were added and that I would receive them within two days. I requested that an e-mail was sent to myself and Brad (who would be sending the money requested). We waited five days for a response and received nothing from Provident Funding.
I called Provident Funding again to find out the status on reinstating the loan. I was told a second time that it was in their legal department and it would be sent out right away. Again, no replies or email from Provident Funding.
I made another follow up phone call to Provident Funding. This time demanding that I get the reinstatement documents. I was told by the representative this time that the documents were e-mailed on the 7th of October. A blatant lie from Provident. Neither Brad Barez nor myself received such e-mail and predates my previous phone calls. We have print outs of all e-mails on that date showing no e-mail were figure, which I do not have and was wrongfully implemented by Provident Funding.
Provident Funding offered no help or assistance, would not cooperate in any way, such as roll payments to the end of the loan, remove unwarranted fees, work out a scheduled payment plan. This company is in violation of the Fair Treatment laws by stampeding foreclosures and must be stopped. received by either party.
I told the Provident rep at that point I wanted the documents resent that day, that we want to pay and settle this immediately before going any further. I was told that he could not do that. That I was given 48 hours (Oct 9th) to submit the payment and that now it was back in their legal department.
More legal and late fees were being added. This was a deliberate action on Provident Funding part to obtain more profit. It took 4 days to finally receive the documents, which now contain over $5000.00 of added fees, putting me at almost $10,000 to reinstate my loan and stay in my home.
I have been compiling evidence against Provident Funding which is public record where similar complaints are being hosted. I am still willing to pay my delinquent account up to the point of the returned check and the removal of all the wrongfully imposed fees to stay in my home. Provident Funding must be held accountable and further investigated for their unethical and unlawful practices. This complained is being filed with every organization and office fighting against the corruption of mortgage lenders.
Provident Funding must be investigated for illegal proceedings towards the American consumer. Making a profit by using loopholes in the law and at the expense of people who are being affected by the greed of these companies (who initially caused the economic crisis) must be stopped.
I am writting this letter seeking for your immediate intervention because I was mistreated and unproperly served by Provident Funding and its employee. My property got a short sale approved on July 1, 2009 good through August 3, 2009 by Bryce C. from Provident Funding. However, funds could not be delivered to Provident Funding as the time he specified in the approval letter, therefore, my agent Helen N. sent him an email asking for extension until Friday August 7 to allow us some times to close. He approved it until August 5, 2009 and per diem extension fee will apply beyond that date. Due to buyer's lender work load, they didn't get into the buyer's file in time and there are some minor conditions prior to funding need to be met. As a result, funds could not be delivered to Provident Funding in time.
My agent, delivered the message to Mr C. and asked for additional time that she orinigaly asked for and we are willing to for per diem. Then, as of 8:30AM today, August 5, he sent my agent an email stated that if he didn't get the fund by 10:00 AM he will send it into foreclosure.
I called Mr Clark as soon as I got the message from my agent. He refused to help. I later sent him an email and got his replied back that the house has gone through foreclosure sale. Why was he being so critical to us for just a few more days? Would we be treated differently if we were white? Or because we are just a bunch of Asian who could do less to protect themselves that's why we got treated the way it was?
I don't think we are being unreasonable to ask for a few more days. As you might aware of, on average, it takes anywhere from 45 days to 2 months for one transaction to go from start to finish these days due to tighter regulation by banks. Mr C. expected us to close within 34 days (July 1 - Aug 3) and notified us that the house will be auctioned less than 2 hours before the event happened. Is this legal? Is this fair?
His reason to rather foreclosed it because he gave us too much times. We were asking for four addition days and that was too much under this market condition? Had times and money were the most important factors for Mr. C. and Provident Funding to determine the approval then that should not dictated his decision making to begin with for whom should buy the property legally. He initially approved the short sale back in June 10, 2009 but it was useless for the current buyer when the previous buyer walked away (please see attached email). It took Mr C. from June 18 to July 1 to issue us the approval for the current buyer. Now, we all got purnished for took it so long? Had Mr C. issued us the conditional approval as if Wells Fargo did, we have had this transaction closed already.
I am hurt and distress and feel that Mr. C. and Provident Funding unfairly or maybe unlawfully took away an opportunity for me to rebuild my life, my credit. For others involved an opportunity to purchase a dream home and an opportunity to better serve their families. I am attaching all short sale approvals and emails for [their] review and hope [they] will give me a fair trial.
On the last notice, I don't know much about foreclosure law but it doesn't seem right to me for Mr. C. and Provident Funding to auctioned my house without notified me and only notified my realtor less than two hours in advance. I found informations [on CA foreclosure law that] indicated that if I understand correctly than Provident Funding should have notified me at least 20 days before the sale occured. I am helpless in my current situation so please help me in anyway that you could possibly have. I could not afford to hire an attorney because I am unemployed and won't be able to find a job since 10/2008.
Mr. C. and Provident Funding action caused me of having a history of foreclosure which will affect my credit rating. It will make it harder for me to obtain credit in the future and finding a job as many companies checking my background before decided whether or not to hire me. My realtor, buyer realtor, loan agents did not get the money they deserve after months long of working.
