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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. **.
I am not one to write reviews because there is always three sides to every story but 4 years ago Provident Funding returned our mortgage payment because it was $72 short only due to a change in taxes that we were not advised off and caused a logistical nightmare for a couple of days. Today, I had client who was with them for over 6 years with a perfect mortgage history who paid them off but also had their wire returned because it was $80 a short and a new wire cannot go out until it it hits the system and it came back after business hours.
They asked if they could waive the $100 late fee since they were paying off in full and never missed a payment and they were denied that request. Just really poor customer service and this is all a Fact. I did business with them for years and can honestly say it is a blessing not to deal with them anymore. I am not going to say anything nefarious because it I don't want to feed into all that negativity out there. I am sure there are some good people there but you are basically dealing with brainwashed kids in a cubicle. The company used to be known for having the lowest rates in the industry but thankfully that is not accurate or true today.
As a former customer and lender with them I can honestly say that I would say no thanks to them and it is always better to do business with people who not only appreciate your business but who will always try to do you right when there is an issue. I just outlined two egregious firsthand examples and now I have a plethora of others that aren't worth detailing. I now believe that perhaps all these people who post reviews and post are telling the spot on truth. Best of luck if working with them or having them service your mortgage in the future.
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My wife and I had a mortgage with Provident Funding and we lost everything in the Camp Fire in Northern California. In 17 years we never had one problem with Provident Funding and the pay-off process after the fire was easy and explained well. In our case we drove to Santa Rosa and took care of the pay-off paperwork, gave them the insurance check and received our check from them in 6 days as they said. I have dealt with other mortgage companies in the past that were hard to deal with. Provident is the best I have dealt with and I plan to use them when we re-build or purchase soon.
****ZERO STARS**** This company needs to rot in hell where it belongs, PROVIDENT FUNDING is such a piece of greedy crap that could give two flying "**"'s about their good paying longtime customers. Please, for the love of GOD, do NOT start a loan with PROVIDENT FUNDING ever. If you have always paid on time and were never late making a payment for years and then one day you are late due to a weather related USPS delay, they will hit you with a $45 late fee. No, they do not care about you and no matter how many times you contact them at customer service and explain your situation, they will not reverse the late fee. Nothing will be resolved at customer service and they will hang up on you numerous times (RUDE!).
Also, they will ruin your credit score over one small late payment, just look at all of the numerous negative reviews of this company online. Too bad I did not look at all of the negative reviews before I opened up a loan with them, all I can do now is warn everyone to stay away from this company and save yourself. I will have to refinance with a different company because of the horrible way I was treated over one late payment beyond my control. Shame on this company and all of the employees that work for this toilet bowl of a company.
I tried to sign into my mortgage account this morning but was unable to. I just got a screen saying this website was not private and that they did not have a valid certificate. I have no idea what's going on with my money and have not found a phone number to call.
Zero stars - Similar to other reviewers, I received a late payment fee notice after many years of on time payments. I paid the loan via electronic transfer of funds from my checking account as usual. For unexplained reasons, Provident Funding did not post the payment until 12 days later which resulted in the late payment. Normal processing time is 3 days. When I called them, they maintained that the late payment was not their fault and they would not waive the late fee. Based on the number of similar complaints, it appears that they may be running a scam to collect late payment fees.
Dantan **. #** in "Management" haha what a joke. This guy belittles customers and acts like an arrogant **, then starts yelling at me. I am not sure if he knows what Customer Service means. This company has been horrible from the get go. Don't use them! There is a reason they have terrible reviews.
I am a mortgage broker and work with quite a few wholesale lenders. Provident Funding provided exceptional service to myself and my client, who was a self employed borrower. I was able to speak with a representative anytime I had a question. The documentation was typical for a Self emp. borrower and we closed on time with no issues!
When their auto pay system didn't work as I expected and they therefore failed to retrieve the payment on time, they charged late fee and when I contacted them about this matter, they never tried to consider the whole event from the customers' point of view! All the customer service people are RUDE and it's very obvious that they set up some trap to make customers fall into unnoticed, then they insist that it's the customers' "mistake" even when we pay the fee right when the so call 'mistake' was noticed, the same day when they send out a mail with a 'late fee' notice. Discussing with them about any matter is like talking to a machine that can only cite the 'rules'. Actually, they don't have 'customer service' at all because all the people there are trained to serve only their own business!!! I've heard loan companies that have a lot better service than Providence Funding do! Never do business with this awful company!!!
Things ran smoothly for three years until I eventually had to call customer service about a late fee charge. My monthly loan amount had changed and it was submitted through my bank as a reoccurring automatic payment at the old amount, not late, however when I was notified via email I immediately tried to pay the difference which they would not accept, rather they rejected my entire payment. I had to re-submit a new payment at the correct amount, ultimately my payment ended up being a business day late.
When I called and explained to them what happened, they stated it is not their policy to reverse late charges unless it was fault of their own. When I pressed that it was not late just an oversight due to the change in the amount, a supervisor gave some BS about reversing late fees would not look good when they do their reporting to shareholders. WHAT? Guessing late fees must be a cash cow for them, as there is no compassion for their customers there. From other reviews I have seen customer service does not exist, but I don’t think they care, only thing they care about are their profits. My situation was small, compared to others, but sometimes it is those little things that mean most.
The company took over our mortgage November 2017. They were taking out a large amount for our escrow account to pay our insurance and taxes. Their information said they paid our insurance in December but several weeks later they have reversed the check. Our insurance was not paid. They continued to collect too much money for our escrow account. When I called to get the amount I should submit for my payment, the operator did not know. He said he would call back the next day. He called me back several days later after my payment was due. I missed the payment by 2 days and they charged me a late fee. Poor service, their mistake but I pay for it. I am very unhappy with this company.
Their web security is antiquated and not consumer friendly. They expect you to sign-on each month to review your mortgage. If you don't they require a password reset. I review my mortgage maybe every other month and thus I'm forced to reset my password each time. This is very annoying especially since I use a password generator and know it is very strong. I object to more effort on the consumer's part to access my contract information. I've notified them and they do not understand.
I have had a problem with Provident Funding posting my payment in time not to get a late charge. My payment is due the 1st and late the 15th. I send my.check the first and never later and get late charges because they don't post it. This in turn ruins my credit so now I can't get a loan from other companies and that way they keep my account and can still rob me every chance they get.
The idiots answering the phone lied to me on two occasions. Multiple phone calls and finally asked for a supervisor. She was pleasant and knowledgeable about the foolish and ridiculous rules and regulations. I had a fire which ruined some of the exterior of my house. The insurance company is required to make the check payable to me and to the mortgage company. The first lie was that I was to endorse it and mail it to them. The turnaround time is 72 hours. I called and lie number 2 was they would mail it to me and I could provide the contractors' info later. NOT TRUE.
They held my check hostage until I came up with a contractor. I DIDN"T want to use a contractor. I have competent handymen that I wanted to use as I have had them do work for me before. Then they said I was to send them the bills for the work done and they would write a check to the person who did the work. NOT! My brother is a general contractor and they said I could use his info. I sent the information and on Friday the 2nd of February they lied to me again telling me the check was issued on Friday and would be mailed that day. WRONG! I received an email telling me that I had a letter in my Account letters. I opened it up and it told me that enclosed is the check and that there were forms to fill out when 80% of the work is done and that they would send out an inspector, which I had to pay for.
There is NO ONE to talk with only customer service people. Worst business I have ever had the misfortune to do business with. As soon as the rates drop again I am getting rid of this company. Also telling my mortgage broker, who got me this loan about the lack of professionalism, lack of customer service and not able to talk to someone who knows that there are exceptions to every rule. They were not accommodating, nor knowledgeable, and that they continue to lie to the customer. POOR, POOR business practices.
When the new tax laws went into effect I chose to prepay six months of real estate taxes in December 2017. I called Provident Lending early January to inquire about the way they were handling the adjustment to my escrow and provide me the new monthly adjusted amount. The customer service rep had no idea what to do and advised me to call back. My second call I met another rep who couldn't tell me how much or when my payment would be. Meanwhile Quicken Loans who handle my second property were proactively communicating with me and provided the adjusted amount for January payment! I do not in any way recommend doing business with Provident Funding as they are not quick to understand tax changes and are even worse with customer relations. If there was an option for 0 stars I would have selected it.
I have had multiple mortgages with Provident Funding and have never had a bad experience with them. I just refinanced my home and it was fast, professional, easy and cheap. They have great customer service and follow through. I will do business with them again!
Sadly, my mortgage was purchased by this mom and pop shop. For years I've been making payments every two weeks. Works with my pay cycle, and at the end of the year, I've actually made 13 monthly payments instead of 12. Saves me a ton in interest over the course of a mortgage. Evidently the inadequate bill processing system they use can't handle receiving multiple partial payments per month. My partial payment was rejected with a stern letter of reprimand for not paying the entire amount. I followed the letter with a call to their customer service department. Customer Service agent was polite, but unable to assist in any way as they simply don't possess the technology to process bi-weekly payments. First finance company I've ever dealt with that couldn't handle something so simple. Wish I could force them to sell my mortgage back...
On December 6th I received a notice that my mortgage had been transferred to these yahoos (Provident Funding). Since my payment was due on December 1st and was on autopay I assumed the payment had been made to my previous mortgage company as usual. However, it turns out that my December payment was actually due to Provident. Why they didn't notify me until the 6th of the month I am still trying to figure out. Now I need to monitor my credit reports and make sure they do not inappropriately flag my December payment as late even though my late payment was due to their incompetence. If you have a choice about doing business with these people, don't! Unfortunately I am stuck with them.
Provident asks me to update my house insurance since it was changes recently. I follow the instruction to upload the insurance declaration form. A few hours later, I received an email tell me log in for updated information. I logged online and open the letter. It basically says, "Since you changed your insurance company, Provident will not paid the mid-term premiums." The question is Provident never paid any insurance for me. I paid it myself all the time. The problem is there is no way to reply back to the letter. No chat available. Email response is automatically rebounded. I have to call them and wait for more than 20 minutes to talk to a agent. Of course she has no clue what I'm talking about. Very bad customer services.
I have a loan with Provident Funding. The balance is about $278,000. My house got burned in the Northern California fires. Since my house was 100% destroyed insurance sent me a check for $1,347,000.00. Both names were on the check. I called my lender asking him what to do if I'm going to rebuild my house. They told me to endorse the check and send it to them, they will hold all of my funds during building. So I told them I disagree with them and they should only hold the amount I owe them until I rebuild the house, since they have the money, they have a lien on my house and I'll be paying them interest on the money even while they hold it. They refused. So I told them that I will not do it that way and I will be closing the loan. So I hand deliver the signed check to their office and got a receipt on Nov, 14th.
As of today Nov, 22nd my loan is still active and I'm being charge interest on the loan while they are holding one million three hundred forty seven thousand dollars. Their excuse is that they are waiting for the funds to clear. The check was from an insurance company (Liberty Mutual). I'm not sure what is the law on holding checks. I thought the Congress has passed a law for banks to release funds within 24 hours. I have a strong feeling this issue will end up in courts.
Provident Funding gives the best and competitive rates, sometimes even lower than credit unions. Also, the documentation process is straightforward. Easy online access.
We had a mortgage with Provident Funding Association since 2003. On April 12, 2017 we paid off our loan to Provident. We expect to receive a full reconveyance of the property to us. Haven't heard from Provident for six months, we wrote to Provident to request for it in October, 17. Few days ago, we received a fax of SUBSTITUTION OF TRUSTEE from Provident and its agent named Fidelity Mortgage as the beneficiary of our property. We wonder if there is a conspiracy of grand thief by stole a property - our life saving - from us as an elderly couple?
We were sold to Dovenmuehle Mortgage by Provident/Paramount last November 2016. They said there might be confusion so no reporting would be done for the months of Nov, Dec and Jan. We WERE NOT late for November, however our payment was not run through our bank for two weeks. I called and checked and they said no worries, moratorium was in effect and they would correct. Well, went to refinance my house and lo and behold if there is not a 30 day late for November of 2016!!! We are trying to refinance and are unable to now. I have called and called and called and gotten nothing but complete rudeness. Experian and Equifax show the account closed for Nov 2106, however TransUnion shows the late. Simple fix. You would think. They are even ignoring the grievance filed through TransUnion. I am ready to hire an attorney. Honestly the worst service ever.
I have a mortgage account with them for more than 5 years. Just yesterday my payment is late one day (first time) and I call their customer service. I want to get the credit for the late fee. However, the customer service represent insist that it is my fault and refuse to do anything. I talk to the manager still the same thing. I really don’t satisfy. I know the banks and the credit card companies can give their customers credit for the reasonable reasons. Why not the Provident Funding? I just want to share my experience to other people. Be careful to deal with Provident Funding!
My insurance sent a lump sum payment for roof replacement and siding repairs in one check payable to Provident and myself. I am having the work done by different contractors but Provident will only reissue the full payment to a single contractor or send a partial payment to me which is not enough to pay the roofer. They refuse to make separate payments to the individual contractors. How stupid is that - you wouldn't have a painter roof your house, nor would you have a roofer paint your house.
Similar to the prior flood insurance post, Provident tried to rip me off for regular old house hazard insurance. I switched insurance companies on 6/26/17, notified Provident by phone of the change on the same day, and submitted the policy to Provident on the same day. My old insurance lapsed on 7/1/17 at 12:01 a.m. and my new insurance began at 12:01 a.m. on 7/1/17. In other words, there was no lapse in coverage and Provident had a copy of my policy in the file.
On 7/3/17, I received a letter from Provident advising that it had purchased insurance on my house in the amount of $2,530 for 90 days of coverage. The letter further advised that I was responsible for payment in full on my next bill. No call, no email, nothing. Just a giant bill that would be over $10,000 annually for my house insurance (I paid under $1,500 for 12 months of coverage). THERE WAS NO LAPSE IN COVERAGE AND THEY HAD A COPY OF THE NEW POLICY IN THEIR FILE. I'm ready to file a class action against this joke of a company for their loan servicing BS and for the RESPA and TILA issues that arose during my loan closing.
I called to discuss the matter and was told that a second letter would go out showing a 0 balance for additional insurance and that I would pay nothing. That is curious - your letter said that Provident HAD PURCHASED INSURANCE and that I was responsible for paying for Provident's purchase. Unbelievable misrepresentation.
These guys keep asking for more information. They couldn't make a decision based on the information presented. They think they are auditing the customer rather than make a judgement based on the documentation provided. If your Mortgage Loan Originator (MLO) says these guys are giving a good rate, think twice before you move forward with them. I believe it is not worth the trouble. Their service is awful!!!
Provident Funding Associates Company Information
- Company Name:
- Provident Funding Associates