Provident Funding Associates

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Applying for a loan with Provident was a good experience. Like the use of online document uploads, and the online mortgage management and mobile app. After diligently paying down my mortgage over the years, I finally reached the point to pay off. With a remaining balance of ~$200, I sent the payment based on the payoff statement generator. Provident then took my check, cashed it and mailed a new check back to me with a notice stating that it was not accepted. This added two more weeks of interest charges, and required me to spend more money on wire transfer fees to meet Provident's ridiculous payoff terms. I don't plan to go with Provident for my next mortgage until they become more consumer friendly with payment terms or reimburse me for additional charges incurred for payoff of my loan. Lastly, this policy is stated in the payoff notice, but it makes no sense for such a small remaining payoff amount.

They encourage you to set up your mortgage payment as an auto-pay, so I've done that. That kicks in on the 5th, IF you haven't already paid the mortgage for the month. Usually I pay right around the 1st, and that's fine. This month, I paid on the 1st. They took payment on the 5th for July. And their auto-pay kicked in (for July). I emailed them, asking not to take a 2nd payment -- I don't have cash lying around for 2 mortgage payments a month. They respond, "You need to pay earlier", and set the request to resolved. I end up getting 2 NSF fees from my bank and a NSF from Provident. This doesn't give me warm fuzzies. They do have good rates, have adequate documentation, and are good unless there are any exceptions. I think in this case, it was the 4th of July that tripped them up, plus customer service that doesn't give a hoot.

I love this company and from my recent personal experience, am shocked by the number of one-star reviews. I just completed a cash-out refinance so that I can remodel my bathroom, and the entire process from the day I first contacted Provident until the money was in my account, was 24 days. I researched rates from all the main banks and many other companies, and Provident's rates were the lowest in addition to having no costs. I highly recommend Doug ** - he walked me through everything I didn't understand or had questions on with patience, understanding and kindness. I truly felt that he was looking out for my best interests.

My rate dropped by a few fractions of a percent during the process and he secured the lower rate without me even having to ask. They have a great "Rate Calculator" tool on their site that will give you quotes of rates and costs, that is easy to use - no logging in or other information required. The actual process is so easy - everything done online and then a notary comes to wherever you need. I really can't say enough great things about these guys and would recommend to anyone looking for the best rates AND the best service.

My experiences with Provident Funding were extremely bad. Please keep these in mind if you want to go with Provident Funding: Any numbers which could be the interest %, MI %, etc., what they tell over phone can never be taken on face value. Insist to get all these over mail, so that they cannot change their words. Expect a very high MI % compared to other lenders. A 50% more MI payment could be expected compared to other banks. They are full of surprises in terms of the closing costs, etc. The figures they tell one day can be completely different the other day. For example, on Friday one of the representative tell that the total money required at closing is X. And when you make arrangements for X, they will say, it needs to be more than X and most surprisingly they don't know what that increased amount is. And of course they have a lot of reasoning for those.

They are least bothered on how they treat the customers and seems to not care whether you take loan from them or not compared to other banks. They don't tell us upfront what the total money reserves we need to have, etc. Till you do the rate lock they may pretend to be good with you. So don't get deceived by that. :).

I can go on, but stopping now as I don't have the time and energy. :). So if rates are all you look at, you can still look Provident Funding, but be extra paranoid when you deal. I feel extremely disappointed with the service with Provident Funding, so be extra paranoid when you deal with them.

Provident recently informed me that they sold my loan to CENLAR. I've done business with Provident and never had a serious problem. As soon as I learned about the transfer, I paid down the loan by 50%. CENLAR customer service doesn't know its butt from a hole in the sand. After talking to three service reps and waiting for over 30 minutes for a technical rep (who never came to the phone) I finally talked to someone who had worked there long enough to know that transferred loans cannot be set up for automatic payments until after a certain date. CENLAR (ALLY Bank) is desperate to get the business but not smart enough to hand onto it. As far as Provident goes I will NEVER finance another loan with them. They still hold the loan on my rental and if they sell that loan then I will simply pay it off. What a hassle working with these idiots.

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I have been a customer of Provident Funding for over 20 years. I have NEVER been late or missed a payment & always pay extra ($500 a $1000 over my payment). My last Feb. payment was received on the 17th due by the 15th. I checked with my bank & see it was received on the 12th. I received a letter from Provident with a threatening rude statement saying my credit was in default & it would be reflected on my credit report!!! When I called them they said yes they received my payment but the bank must have sent it late because of the holiday... I asked if the late charge could be waived & was RUDELY told "no". I will NEVER do business with Provident again & recommend strongly that no one else does either!!

Our mortgage broker found this lender and called them a "pain in the tush lender" but I didn't care because we are serious business minded people. We hold a lot of real estate and we have our act together. We meet quarterly with our CPA, because we run multiple businesses and we make 7 figures annually. Little did I know that this lender goes out of their way to stick it to you. Here are two examples: #1. When we started the process of refinancing this little property the lender and myself as the borrower locked in a low rate and we waited for the closing date. Soon after we locked the rate, the Fed announced they would be raising interest rates. (This was before the sub-prime melt-down in 2008).

So this lender Provident Funding started a shell game, by requesting documents we had already sent them. I thought they sure are disorganized. But their real intent was to slow down the closing process which unlocked our rate. Then after rates increased and our rate "unlocked" the lender found everything and were ready to close. But now at a higher rate. This bothered me, but I didn't really lose my temper until the second issue happened. Example #2: They lost one our payments in 2015 and placed a negative report on my personal credit.

I generally have excellent credit above an 800 beacon score. And for me, credit is especially important because I buy so much real estate using cultivated banking relationships. Now because of Provident's mistake, my credit dipped into the lower 700's. After a few calls into the bureaucratic nightmare of Provident Funding's "Help Desk" which I renamed the "Frustration Desk" I hired a credit repair attorney to dispute this negative report with this lender. After several months of the paper shuffle game with Provident Funding (where they required everything sent by my attorney to have my Notarized Signature, or they wouldn't even look at it) they still refused to remove the negative report which was their fault to begin with.

I strongly recommend that you don't do business with Provident Funding. They are a house of ill-repute! And I hope this review causes them to lose at least some business; as their lending practices have caused me at least some financial pain. Fortunately what they did won't hurt me too much. It's mostly an annoyance. But for many people this could be a real problem. And I recommend you find another banking partner to work with. Please don't help this company take advantage of others. Go elsewhere. They are repugnant.

We had water damage due to a broken toilet supply line and our insurance company sent us a check to cover the damages which also had Provident Funding's name on it. We had to mail them the check and the first one we got back after several phone calls. They sent us a second check to cover adjustments to their estimate and this time they kept it for several weeks. When I finally called them to find out where the check was they told me that they had just sent it back the day before because we did not include the itemized repair list for our claim. I called my insurance agent and he informed me that he had sent it to them 10 days earlier.

Now we have to send the check back with copies of documentation they already have. Huge waste of time and money (we paid extra to overnight it to them). They are playing games with our money. I will be re-financing my loan as soon as possible. I do not wish to do business with such unprofessional, incompetent people as this company apparently have working for them.

For seven (7) years I have paid ahead of time, on time and never been late. I have always sent my check by mail with the envelopes sent to me and the slip provided. I have always noticed that Provident Funding is very late, clearing the check going up to the wire in the grace period. Well this month, they waited too long and are now penalizing me for a late check. There are two weeks for the US mail to get my check from Michigan to California and for their mail room to get the check to those who need to process it.

So now I am hit with a late fee that they say the burden is all mine. I have never been treated so poorly on the dozens of accounts that I have. They clearly have a problem with their efficiency of handling mail and they are profiting from their own inefficiency with outrageous late fees. I would like the pubic to be aware so that when filing for a mortgage, unsuspecting customers can demand that their notes NOT be placed with Provident Funding.

When my loan was approved I had to pay PMI because I could only put 10% down. Fine. I love my house, the loan was approved, closing perfect, etc. Except I was told last year when I inquired, that PMI would AUTOMATICALLY be removed when my balance went below 80% of the original appraised value. Okay. I started paying extra principal so the balance would drop faster. When the PMI did not AUTOMATICALLY drop off I sent an email. They responded (first) by saying my original appraised value was $30,000 more than it is. So I rejected that answer and asked them to look at the original appraised value from last year. I stated again that my balance had dropped below 80% and to remove the PMI and reimburse me for the PMI paid that should not have been paid.

Now they want $150 to have someone come and look at the house to be sure it has not lost value. This is laughable. I just had it appraised to sell it and it has increased in value by nearly 100% due to home improvements and market value. However, they told me last year and this year that the PMI will automatically drop off in November because that's the point where it would have dropped below 80%... if I had NOT made extra principal payments. So for $150 I can get a refund of $300. Beware if you're making extra principal payments with PMI... I'm not going to continue the hassle of recovering a net of $150, selling the house, and will not be doing business with them again.

I applied for a loan online, got application approval. They said they deposited funds. I had to pull out and send via Walmart visa prepaid. Part of verification I did it twice the money was in there. They called my bank impersonating me, disputed my car payments. Credit was issued for them. That's how the money was put in, not deposited. I believed them. Said 15 min I'd have my 5 thousand dollars. Didn't. They said they would consolidate my c cards and didn't. They kept calling me demanding more and more money. Threatening me and my family with harm. After all they knew my address and everything. Because I withdrew monies and sent it to them by giving them visa numbers.

I now owe my bank tons of money. Couldn't do fraud. Also if they record their messages or conversations they would know it wasn't me by the voice comparison. I'm on disability. It's direct deposited and now I can't pay rent losing car since there was 8 disputes for car payments, insurance and more. I am so sad they did this. Now my daughter and I will be homeless with not even a car to sleep in. Nobody is doing anything to help. Don't know what to do. Why can't Walmart get me my money back considering I have cards and receipts? They should be considered stolen. Where's the protection. I can't even get an account now.

They stole my identity my money and so much more. His name was Erik **. Beware of provident funding. I received loan contract etc. I faxed them Id, ss number, DOB and mother's maiden name acct number and I was so stupid. Reported to police department, the FBI and identity theft services but haven't got any help for anything. All I can do is cry. Can't leave my room so discussed with myself and it.

My husband and I have a year to go on our 15 year mortgage (well, technically we have 3 more years to go, but we've made significant monthly payments of additional principal so we'll be paid off 2 years early). I made our August mortgage payment online through the Provident Funding website on August 13th. I received a confirmation notice that payment was made but didn't keep it (seriously, who does?). Apparently the payment didn't go through and now they want a $73 late fee, which they refuse to waive. According to these scammers, they have a "strict policy" of never waiving late fees. Never mind the fact that we've always paid on time and, in fact, have always paid additional principal ($50-250/month). They said that our account's payment history has nothing to do with additional fees they may charge us (I'll bet that isn't what they say when they want to impose more fees than they've already charged).

The first "customer service rep" I spoke with said that IF I had paid during the grace period they wouldn't have charged the late fee. When I asked why they didn't call to remind me during the grace period, she said "we can't call everyone". After I insisted on talking to a supervisor, I spoke with an equally unhelpful, patronizing supervisor named Daniel ** who changed their policy to "we never call people during the grace period." So which is it? Were they lying the first time or were they lying the second time. He parroted the "strict policy" BS, and said "there's nothing anybody can do" -- no, people can't do anything about terminal illness and death, but they can do something about late fees.

Every other bank/credit card company rewards good customers and prompt payers. Not Provident Funding. (And if Daniel ** said "I understand what you're saying" one more time, I would have screamed. Of course he understood what I was saying, we're both speaking English.) I asked to speak with HIS supervisor, but he refused. "All the managers are out of the office." Yeah, right. Daniel ** said the only way I could escalate the dispute was in writing. Fine, I said, "give me the email address." "Oh, no, we don't use email addresses, you have to send in a written dispute in the mail." What, in the 21st Century they don't use email? Can anyone say "let's make this a war of attrition and make complaints as difficult as possible so the customer will give up?"

Yes, I'll submit a written escalation, but after reading the other reviews on this site, I doubt if it will do me much. I can't wait to get this mortgage paid off, and I'm telling everyone I talk to that they should avoid Provident Funding Associates like the plague. Complaint address: Provident Funding Associates, POB 5914, Santa Rosa, CA 95402.

I started a loan with Provident Funding a few weeks ago based on a discount that they offered us through my company. I used to have a mortgage with them back in 05 on my old house, so decided to give them another try since we didn't have any issues with them back then- and they were now offering a discount to boot. I didn’t have any issues with their service quality whenever I was working with them to get the loan, and for the short amount of time I’ve had with their Servicing department things have been pretty smooth too. They were pretty upfront with what I needed before starting the loan, and the officer was pretty prompt in getting back to me on my questions. Documents that they needed were pretty standard and sensible (based on my last loan experience through Amerisave). One condition about why side business caused some issues when it was being underwritten but I was kind of expecting that to come up anyways.

My loan was closed in about 25 days, and I got a very nice rate out of the deal. I hate sending checks anymore to companies, so I signed up for an auto withdrawal process that they offer. Less hassle to deal with and pretty convenient to manage. A majority of the application process was handled online and over the phone, no face to face work (if you want that option, consider a local or larger bank). For working online though, the website was pretty easy to navigate and they had useful features under my account that let me keep track of my loans progress. I could view the documents that they needed for it, received some system alerts during the process, could communicate with the loan officer, and also upload the documents that they needed. It was a lot less bare bones than when I first did my loan with them, so that was nice to see.

Now that the loans finished, there are other options under my account too (which I haven’t looked through entirely yet). My take away after dealing with Provident Funding is that if you have your financials in order and your house value is good, then you shouldn’t have a problem getting a loan. I haven’t had enough of an experience yet with their Servicing department to comment on totally, but I haven’t had a problem with them so far and they were fine to work with on my old loan. Overall, I enjoyed working with Provident (would probably do so again if rates are better than what I have) and I don't mind giving them a 5 star review for my experience with them.

We were late due to renters paying late. We received a booklet each time offering help to make payments on time. Interest rate we had was a little more than 7% while the current rate was in the 3% area. They refused to lower or refinance each time the package was sent out. Frustrating that they offer help on the face of it, but refuse when we try. Very frustrating, would never deal with them ever.

I was notified in October of 2013 that my mortgage payment was not received; I had paid by check. I made another payment to keep my account up to date and was charged a $213 late fee. On May 27, 2015 a check dated October 1, 2013 was cashed causing havoc with my checking account. Why did it take a year and a half to cash this check?? I looked at some of the other comments on this site and see that other people have had the same problem. I called their customer service department to see if they would credit me for the late fee and they refused. I sent in a written request to see if they would reconsider and will revise my comments if they do. They are not nice.

My home mortgage was with Provident funding in which I owed approx. $140,000.00 on a $325,000.00 home. Because of a new job we had to relocate from LA to AL. We had our home for sale in LA, found a home in AL to purchase. I consulted with the mortgage rep with Provident Funding and he said that if I mortgaged the full amount of the new home when I sold the home in LA I could apply the equity and have the PMI dropped. Well I applied that amount in 1/2015 and it's now going into June and they still have not canceled the PMI and just sent my check back for the appraisal with another ridiculous excuse why they can't drop it. Too many boxes checked on the cancellation form and said they have tried to contact me, I have phone records people they have not tried to call me. I need a good lawyer or better yet need to file small claims against these people. My advice get your mortgage somewhere else. These people are scammers.

Thank you, Provident, for cancelling my closing just hours before it was supposed to happen. We have wonderful credit and good income but there is always something else needed. I have to change my work schedule around every changing dates and now I am worried that we will lose the house because of these delays. I HATE this company with a passion. I can't imagine what happens if this goes through and we actually have to deal with them on a regular basis.

My mortgage broker used Provident Lending for 2 investment properties I was buying. They approved my loan and two days before closing they ordered a desk review of the appraisal. They backed out of the loan on my closing date. Then on the second property, we actually went through the closing process at the title company. We were waiting for it to fund and 3 days after closing they refused to fund it because they said there was a misunderstanding with my income. I have had the same job for over 9 years and have 9 years of pay stubs to show -- help them understand my income. Wow, very disappointing. I have two times the price of these properties sitting in cash and have no debts. Who do they approve?

These guys are terrible. They will never help you with your loan. We did not choose them as our mortgage company initially but the mortgage company we used the first time sold our mortgage to Provident Funding. Like many Americans we had some recent hardships along the way and reached out for help, thinking they are the mortgage company and they would help us.

After about two months of submitting information, telling them why we had the hardships we recently suffered they denied us on everything. We were basically told to find someone who does short sells and sell off our property because they could not help us anymore. Or we could just do nothing and they would come foreclose on us. This company sucks and no one should do business with them.

We are currently seeking out help through some government programs and hopefully we can find some relief that way. Again, stay away from Provident Funding. This is not our first time asking them for help either. We asked for help a couple years ago and they denied us then as well. They are greedy pigs only out to feed themselves.

I mailed my January 2015 payment like I always have the past 6+ years. I get a notice from Provident my January payment was late. I'm very worried, where is my check? Provident received and processed it Feb. 18. There was no problem with my February or March payments. I'm thinking maybe it was a mail delivery problem in January? But April's payment was late. It was processed/received by Provident on April 23. Either there is a horrible problem with the US Mail delivery all of a sudden or Provident is intentionally charging late fees. Provident's solution to the problem is for me to make automatic bank payments. Why is this the only place I mail bills that is late all of a sudden? Why did it take over 20 days for Provident to receive and process my check in April? Someone needs to look into what is going on.

Unfortunately even though it isn't your fault, we cannot waive the late fee. Yes we SEE that you mailed it in time and unfortunately you rely on a third party when you use the mail so you shouldn't do that. Seriously? Worst company EVER! MY payment was not late & yet they gave me a fee. There is no one to talk to; unfortunately the supervisor has no authority to do anything either. They don't even have the excuse of English being the second language because the people I spoke to were CLEARLY English-speakers & understood this was not my fault, but I am assessed the fee anyway. How does this make sense? THEY got it the SAME day the fee is assessed...according to them. My position is they got it in plenty of time, just someone over there didn't process it which is again my fault how? Besides refinancing, how do I get a different lender? I will never use these guys again. Worst.

I have been making payments on this house since 2003. In 2010 I was riffed from Hillsborough County and got with my broker and was assigned to Provident. When the loan was finalized I was in the hospital with a brain aneurysm and couldn't continue with saving my county job. They wouldn't approve the loan as long as my name was on the loan so my sister resigns all the paperwork and dies 2012, now they won't talk to me.

I send payments and they get returned. I sent a payment using bill pay from my checking account because online payment was blocked so the checking on was returned in my deceased sisters name so now I'm out $1500,00. So in the meantime I'm having trouble making the payments. What money I had is tied up in litigation. They won't talk to me. I need to get caught up so I won't lose the house. The money I owe them is about half of what the house is worth, don't do business with these people. They are a bunch of ripoffs!

Unprofessional non responsive company. Lack of social skills and follow through. They do not call back when they say they will and don't return emails or phone calls. I had to file an company and at that got a call back from a supervisor who works in a cubicle. I switch to another loan consultant that still cannot follow through. So unprofessional. My rates went up because they didn't look me in costing me not 2900 original amount but 5400 in two weeks. Good luck if you use these clowns.

Based off my latest annual escrow account analysis statement it reflects I have an escrow shortage of almost $900. I have gone round and round with Provident reference this shortfall and come to to the following conclusions... The escrow shortage is due to a few factors: my actual homeowners insurance and county taxes were more than what was anticipated. Got it; I recognize that and can deal with it. I am fine with making that shortage up. The part I am not happy with is, Provident paid my county taxes very early for two consecutive years. When they pay early, it diminishes the "cushion" in my escrow account. The result of that is they raise my monthly payment to make up the shortage. My taxes are due in January, so if Provident pays in December everything is fine; however, they paid in October 2014 and in November 2013.

If they wait until December, they would have collected the monthly escrow payment in November and December and then when they paid the county taxes, the required amount would have been in my escrow account to maintain the payment amounts and cushion. I truly believe they paid early on purpose, because they knew it would take me under the threshold and then they could get away with charging me extra to make up the shortage.

I almost lost my house and earnest money because Provident can't competently approve a loan. We had excellent credit and adequate funds for a down payment, etc, and we were prompt in meeting all of their requests. But there was always "one last document" we needed to get to them after we met all of their requirements. The seller of our house eventually couldn't wait for us anymore. We fortunately found a lender that financed our home in less than 7 days. With that sort of reliability to compare to, I can't honestly give Provident any excuses for their lousy performance.

I have been a customer of Provident Funding since I got my loan last year. I've gone through and read some of the reviews and frankly, I think they are misleading and indicative of the lack of accountability that has forsaken this country. For example, you have people claiming they were unfairly charged a late fee and would lead you to believe they were 1 day. Keep in mind it is a federal mandate that you can't charge a late fee unless a payment is more than 15 days late. So when they say 1 day late, they really mean 16 days late.

I did a lot of mortgage rate shopping and you can't find a better rate than what Provident offers. You better be a good borrower though, good fico, low DTI, etc. because my guess is they can't offer those rates by doing bad loans - look what happened during the financial crisis. My loan was cleared to close within days because I provided my documentation timely and didn't have any unique circumstances with how I'm paid or with my assets. In any event I'd encourage good borrowers to do their research and if you meet their criteria, you'll likely be unable to find a lender that can give you the rate Provident can and in my year + of making payments to them, I've never had any issues nor have I even had to call them. Everything has been very smooth.

First of all, it's pretty obvious the "overall a great bank" review is a fake review, probably written by one of the Provident employees because they desperately needed at least one good review. I only wish I would have read all the horrible reviews online before opening an account with them. I mistakenly just searched for a bank with no minimum balance fees. Their website is ridiculously difficult and poorly designed. ** at the North Brunswick, NJ branch is in dire need of customer service training. Not one smile in the entire branch, very unpleasant attitudes. ** took 45 minutes and needed to make several phone calls for help to open a simple account. Very sad. They act as if you're interrupting their day of web surfing if you try to open an account.

** gave me absolutely NO paperwork on my new account and only gave me a receipt for my deposit along with a mortgage interest flyer and a debit card. I should have known better than to leave without the proper documents. She actually had the nerve to get snippy with me on the phone when I called the next day to ask why I didn't get the proper paperwork which THEIR customer service said was required before I could log in online. FYI, it will take several days before you can log in and access your money online.

** also failed to return to me one of my tax documents which I can only hope will be mailed back to me. Calling customer service is no help at all, just more incompetence. It's no wonder at all why there aren't more branches. I'll be closing this business account asap. These geniuses should hire an independent consulting firm to evaluate their people & branches in order to enlighten them on why their customer service gets such bad reviews & why the Internet is SO flooded with horrid reviews of their branches. You should really think long and hard before trusting Provident and their people with any money or information. Be warned. BEWARE.

I've taken out a mortgage to finance a new home, and Provident's unprofessional conduct almost left me on the street. Even though I was way-above prime as a borrower, they tore apart my finances as if I was a convicted criminal. They conducted this very slowly, in a way that stretched things to the last possible minute (so until the very last day, I couldn't be sure I'd get approved). They also came up with ridiculous stuff, like deciding to exclude all of my wife's income, which forced me to scramble and break savings (losing a lot of money in the process). Finally, only hours before the closing date, they decided to call my office for employment verification OUTSIDE work hours, which almost tripped up the whole thing, had I not been lucky enough to have Lync. I'm pretty terrified of the fact that I'm stuck with these guys for the rest of my life. Steer Clear!

I'm a disabled person, I suffer from myasthenia gravis and spinal muscular atrophy. Spinal muscular atrophy is a progressive neuromuscular disease for which there is treatment and has caused severe disability. I was awarded in 2008 a steady monthly income from the Social Security Administration. On 8/18/214 I tried to refinance my loan with Provident Funding at a lower rate. They insisted a letter from SS assuring them of a steady monthly income for the next 3 years, even though they knew SS Administration could not guarantee a steady monthly income for the next 3 years because SS could not assured I would be disable in the future, my application was turned down for that reason only. Provident has discriminated me a disabled person because my only income derives from government assistance. Had no choice to refinance with another lender.

I have had a mortgage with Provident Lending for 27 years. Never late, always paid on time. I mail the payment 7 days in advance assuming that the USPS would have it arrive on time but it arrives 1 day late. They charge me $123 of penalties because of this. Can't Waive it no matter what. What has happened to customer service in this world?

Provident Funding Associates Company Profile

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Provident Funding Associates