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Almost thought I was being scammed, hesitant to give my information after receiving their robocall despite making a payment and confirmation of a received payment. I strongly encourage you to look elsewhere for all your future investment needs, we will.
I contacted Provident for a refinance, and without any information provided, the broker asked for SSN and approximate value of 401K. Stated I was surprised that he was asking these questions before we even discussed the loan amount, terms, interest rates, anything. He stated that is how they do business, need to verify if customer has the ability to repay a loan before proceeding. I felt this is dodgy practice and felt broker didn't want to waste time if i was under-qualified, and since when to you have to reveal the value of a 401K plan? I did not proceed any further.
This company will try to hit you from every corner on charges that normally other providers would be lenient and understanding. Case in point: 1. Late charge - late only for 1 day and it was not a fault on my part for their system was down on the due date and couldn't make an online payment. 2. Charge home insurance premium without my knowledge or consent for there was an discrepancy in the coverage period when I switched to another insurance provider. There was an elapse of 6 days from my previous coverage to my current coverage. Not only that I was told in my previous switch of insurance providers there is a week grace period for the changeover.
On June 28, 2019 I mailed via USPS 5 bills with checks dated July 01, 2019, which included our Provident Funding mortgage payment, which was due on July 16, 2019 before being considered late. On July 17, 2019 I received an email stating our mortgage payment posted on July 17, 2019, one (1) day late and almost three (3) weeks after it was mailed, and in 6 1/2 years doing business with Provident Funding, we had never been late.
I attempted to talk to Provident Funding and explained when it was mailed and that we had duplicate checks for all 5 checks mailed on the same day and a copy of our Checking Account Checks Paid Statement, and Provident Funding refused to accept the factual documentation and evidence we did nothing wrong and either the USPS caused this or Provident caused this, and refused to waive the $35.61 late fee. Provident Funding does not care about their relationship with excellent customers, they are based on greed, evil and uncaring people who only care about what they can get. This is not a Company you should ever do business with.
Provident Funding in San Jose, CA is stinks. Underwriter initially approved the refinance amount, then requesting a lot of documents (documents of your business 3 years ago, bank statement of anyone who sent/received money from your bank acc), greedily wanting to involve more borrowers for the security of loan. If not possible, they simply rejected the loan no matter what effort you put. At the end, borrower is the one got hurt: time, money, effort.
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I requested an appeal to a decision to hold my ACH mortgage over-payment until I showed proof that my bank account had a positive balance. The appeal officer restated an earlier position which was not an resolution. I was fully cognizant of their rationale for delaying my ACH posted over-payment. They wanted to wait more than 10 days to return my ACH posted over-payment. ACH electronic transfers like my over-payment only take hours and not days to clear.
I am cognizant that we are now living in a time when irrational and illogical conclusions are designed to accommodate the writer is the new normal. I maintain the actions of Provident Funding, including its response to my complaint demonstrate their consistent customer relations insensitivity. I have a 30-year mortgage relationship with Provident Funding. I consider it unique to that Provident Funding would question the integrity of a current 30-year mortgage customer in good standing; by insisting proof of a positive bank balance for an account from which a posted ACH over-payment. I consider their response to be consumer harassment.
I was doing a cash-out refinance on one of my paid off rental properties. This is the most ridiculous lender I have ever worked with and they ask for a lot of documents ridiculously, including my 401K Summary Plan Description, which I never knew what the heck it was before until they asked for it. They also asked me what I would do after the refinance with the money. I told them I am doing it because I want to have a smaller cash flow for tax deduction purpose but it sounds like they just want me to have a plan to make more money with the cash out money. I never had a lender before EVER asking me this kind of ridiculous questions. Why do they care about how I use the money after the refinance? !
I have a few rental properties and three of them are paid off. My credit is 780+ and I never had bad credit history. So one week before the closure, they told me they couldn't use the rent of the homes I bought last year because they were not entirely being rented out last year. So the rent cannot be counted as my income according to their own guidelines and policies. Why don't you tell me that earlier? I have paid for the appraisal and now they told me they couldn't offer me the loan because of their own policy and guidelines. But, they would never think about how ridiculous their guidelines are! They are totally wasting my time.
Seriously, if you want to get a loan, DO NOT use them ever, no matter how low their rate is! It's not worth it when putting so much time and energy there for their ridiculous requests. They don't really care about the customers at all. This worries me more even if I got the loan from them. If they can this bad at the beginning, they can be worse in the future. And to be honest, they are not the only lender in the market, and I'm happy to see they keep losing their customers and trust because they are just so bad.
For 5 years we have made timely payments on our mortgage to Provident Funding. April payment was due April 16, and I mailed the check on April 9. It was not processed until April 17. I was assessed a late charge of $69. When I asked for a waiver based upon my past timely payments and the one day delay, I was refused by both the phone clerk and his manager. I am livid as the mail delay was not my fault.
When I contacted Provident to learn about recasting our mortgage, I was told I needed to send a letter specifying what we wanted to do and to include a check for the amount we wanted to include for the recasting. I was told nothing else. I did as I was told and sent the letter and our check. Our check for $185,000 was deposited on March 5th and I heard nothing else until I contacted Provident on March 29th. At that time, I was told I had to return a letter I never received by March 19th for the recasted loan to be effective in April. For the life of me, I can’t figure out why they did not contacted me on March 20th, the alleged due date, when they knew I wanted to recast our mortgage, signified by them depositing our check.
I was told by a manager on the phone that Provident’s policy was to wait until the end of the month, 12 days after my letter was due, before they would contact me. Really? That’s nothing but a total money grab. The manager told me it was our fault we didn’t receive the letter that we weren’t told we would receive (I would have followed up on it if I’d known). I’m curious if I’m able to use that line if I ever have a missed payment, that it was Provident fault that a payment wasn’t received?
These people are nothing but sleazy profit seekers. DO NOT USE PROVIDENT for anything. Sadly, we were the last customer our mortgage broker referred to Provident. He finally realized what a bad company they are. Their customer service does not exist. As I was told repeatedly by a manager, it's all about their investors, not their customers.
My husband and I have been clients of Provident Funding since Heritage Lending sold our mortgage to them. My husband passed away March 1, 2019. I made my normal payment over the phone as always in March. I received a letter in mid-March advising of an escrow deficit. I wanted to take care of the deficit and the payment in April. When I called to advise the company of my husband's death. The agent recommended using their online service, to take care of both. I made the payment and extra escrow payment April 6th.
Today, I received a letter that said my payment had been returned NSF. And a $20.00 fee was charged.. NOT BECAUSE OF INSUFFICIENT FUNDS.. but because a number was wrong on the routing or account number. They could easily have contacted me to recheck the numbers. I called a got the most insufferable, insolent **.. who insisted the charge could not be reversed.. and gave his smug condolences. I would advise if you are looking for a mortgage to look past this desperate, petty, greedy company. They are the epitome of a self serving greedy company. I will be moving my mortgage A.S.A.P. T. **.
Provident Funding Associates Company Information
- Company Name:
- Provident Funding Associates