Provident Funding AssociatesConsumerAffairs Unaccredited Brand
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.
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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!!!
This company held my home mortgage from 1999-2013. Sometime around 2008/09, the Federal Emergency Management Agency (FEMA) declared the area my home was in as a 100-year flood plain and I was required to have flood insurance. I found a low-cost policy and paid it for 2 years on my own. Finally around 2011, Provident Funding clued in and sent me a notice stating that I needed flood insurance. I showed them proof that I already had it and they INSISTED that it be put into my mortgage's escrow account. I reluctantly agreed. The following year, the insurance company sent me a late notice that it was unpaid. I called both Provident and the insurance company to confirm the correct address and the insurance company had it correct, but no payment from Provident was received. I called Provident again who assured me that everything was fine and not to worry about it, that it would get paid.
The next thing I got in the mail was a letter from Provident stating that they had put a "forced-place" flood insurance policy on my account and were billing me an exorbitant amount for it. Apparently, they never paid the premium and the insurance lapsed. They kept saying that the insurance company never billed them, and the insurance company insisted that they had billed them several times at the correct address. I thought it odd that the insurance company was always able to send me the bill on time and to the correct address, but after all the confirmations, couldn't get it to Provident--plus Provident assured me that it would be paid when I called them.
I believe Provident dropped the ball and didn't want to own up to its responsibility. That result was that since my low-cost insurance had lapsed, I had to get a higher cost policy in place with the same insurance company, which was still cheaper than Provident's "force placed" insurance. It cost me about $300+ dollars to carry Provident's policy until I was able to get the 2nd policy in place. I told Provident to stay the hell out of it and that I would pay for it myself because they were too incompetent, and they allowed it. Fortunately, I moved out of the flood plain within the year and spent every cent of cash I had to buy the next house to avoid dealing with another mortgage company. I would not recommend anyone use this company, they are dishonest.
I recently worked with Provident on a home refinance. I used them for a previous loan and was satisfied, so I figured I would try again. Big mistake! This was the worst experience I have had in my life dealing with a lender. They paired me with a very young loan processor who seemed to be overwhelmed. On my Final Loan Disclosure the cash to close was wrong (meaning I was not bringing enough to payoff the loan we were refinancing). This was overlooked by my loan processor and I actually had to call him to let him know that this was wrong. Next, they forced me to close on a Thursday to ensure funding and processing, but my other lien holder was not even paid on Tuesday of the following week. Nothing was smooth in this transaction and I felt like I was working for them by the end of the effort and begging for services that they were charging me for (i.e. getting the settlement company that they use to payoff my other lender).
My loan approval process was so unbelievably simple! The rate on my loan, outstanding, no surprises. I thought it would be too good to be true but it was all as stated. Everything is on-line, which I find much easier. From loan app to funding, under 30 days! Best experience getting a home loan, ever!! I have had zero problems with making my online payments going on their site to do so. I read so many problems from others. Perhaps one of the competitive advantages to Provident is their preference for online? I've actually never had a problem making online payments to any mortgage holder.
I do not use my bank's "bill pay" because I don't trust that to be timely. Nor do I take the risk of checks in the mail and possibly being stolen along the way (my paranoia). Online payments with Provident are straightforward and simple, once correctly set up. I go on the lender's site and make my payments through there, for them to pull the money from my account. Provident posts my payment and pulls the money the day I make the payment. Easy, convenient. I am a very satisfied customer and recommend them!
Do Not do business with Provident Funding. They have our mortgage, I mailed the monthly payment and they hadn't received it after 20 days. I called to tell them I was going to do a stop payment on the lost check. I told the lady on the phone I would wait 2 more days then do the stop payment. I did. It cost me $43 for the late fee and then $33 for the stop payment on the missing check. Then I made the payment online for the amount plus late fee. The payment clears my bank and all should be fine right? Wrong!!! The missing check magically appears and they go to cash it but it comes back NSF and they charge me another $25 fee. I'm livid at this point, I call and they say I should have called to tell them I did the stop check. I said, I did!!! They say I was supposed to call them a second time to tell them.
I went online to make my house payment on the Lenders Site (Provident Funding) so that I would not have any late fees. This required me pulling funds from my Savings Account and putting it into my checking. I wanted to ensure any bills set up on automatic withdrawal would clear as well. I was waiting for my first check from Social Security as well as my short term disability and was running out of time so I choose to use Provident's portal. Using the number on my checks issued by America First I put in the routing number which results in the bank's name automatically populating and the account number listed on my check. The Portal auto populates with checking as the option for funding. Key Point Here. My back refuses to pay stating NSF because the request came through as a request to debit the savings account and my bank said they are bound by law to honor that request.
How did this go from a request to debt my checking account to now a request to debt my savings account after I moved the funds over to my checking to cover this request. My bank said they would refund my NSF fees for refusing the check 2 times. Provident on the other end refuses to refund any charges for NSF Fees, late fees, and a phone payment fee. Each person I have spoken with states it was my fault and therefore I should pay those fees. A representative from my back conducted a conference call to Provident, myself and the agent said they do not make any exceptions for any of their customers under any circumstances. The agent then proceeded once again to state that I had to change that request from checking to savings therefore I am responsible for the error.
What. Why would I bother transferring money when the payment would have bounced if I did nothing. I could have merely paid the $17.63 late fee and saved myself time and aggravation. I do not feel I was at fault in any way and should not be charged the $75.13 in fees for a computer error. My bank refunded my changes because I am a good customer and did the work in research to see that this was of no fault of mine. I have to wonder how many innocent people this company gets these fees from and then tells them you made the error you owe these fees. I carry a 777 credit score and I am proud of it. I have never not paid off any loan or bill that I have accrued.
I believe Provident put my ex-husband as the primary borrower only because HE is the man. I was the one who put the large down payment down, I was the one paying the mortgage in full by myself because he had no job. When we signed the mortgage, we were both the borrowers. Why in the world they would put him as the primary borrower is beyond me. This has caused me to lose my home to my greedy ex-husband even though I used 100,000 from my inheritance to buy it. I have to call every month to change the online password and login because they let him change it. WHY? Because he is the primary borrower. I would never recommend anyone to get a loan with them!
I am 70 years old not in the habit of complaining! However, I am so angry with my treatment by your Loan/Customer Service Department I decided to go directly to the top. I use checks to pay my bills - I usually post them to reach establishments well before due dates and this usually works. I mailed my December payment as usual. This reached your offices in Santa Rosa, CA on the 9th December. The payment was promptly returned to me with a letter informing me the check was refused and returned because it was "Post dated". The check was dated December 16th, 2016. I received the return documents on December 27, 2016.
I immediately called your customer service department spoke with an agent and also to supervisor (Derick) asking for a more complete explanation. I was given none. I then asked due to the circumstances and my excellent payment history since Provident had taken over my mortgage loan for the late fee to be waived? I was informed that as Provident Funding had not received a payment for December the account was late and in order to avoid being reported to the Credit Bureau as delinquent I would be required to make the payment, before December 31st, pay a late fee of $46.03 and $7.50 handling charges for paying over the phone.
I do believe this was shameful and mean spirited treatment. Funds were in my bank - the payment was received by Provident well within the courtesy period given. I have brought this to your attention personally because I do believe you should be made aware when customers are unhappy. I am certainly not of the generation to take a disagreement public but would like you to please see that I get a full refund of the late fee and the handling charges.
Provident Funding was horrible. My husband wanted to refinance our home because of the great rates. We've lived in this house for 30 years and had plenty of equity in it. Plus both of us have excellent credit (800+) and good jobs. We thought this would be easy... boy we were wrong. The scrutiny was over the top, but we turned in document after document and even turned in the same documents 2 or 3 times. We paid $800 for an appraisal fee and had to wait two weeks for them to call and just make the appointment. Then we had to wait another 3 weeks for the appraisal date. Time was not on our side for the lowest rate, so we had our mortgage company lock it in.
The mortgage company would email us every week saying everything is up to date just waiting on the appraisal. Finally the appraisal day arrives. We get a phone call 30 minutes after the appointment start time from the appraisal guy stating, "Sorry I'm not qualified to appraise your property because it's a dividable lot and I don't want to lose my job. You will have to reschedule another appraisal appointment." We paid $800 and he's not qualified to appraise our home! Now it gets more interesting...
Then within 5 days after that phone call with the appraiser we get a letter from Provident Funding that was backdated two days before the appraisal date stating, "Your mortgage loan has been closed. The decision to close your application was based on the credit application being incomplete. The items needed to make a credit decision were not provided." This letter was written two days before the appraisal was to happen and mailed out the day of the appraisal date. Sounds like someone is covering up for someone. Also, wouldn't the broker have informed us rather than Provident?
I just finished a refinance with this company. I would not use them again and would not recommend them. The approval took a long time. I had to threaten them to use another lender before they responded. I had to contact them every time for updates.
If I could give this company a zero or a negative number I would. In all the years I have obtain loans, this was absolutely the worst. We had great credit, plenty of cash and assets for what I thought was a relatively small loan. The steady stream of requests, inquiries, letters of explanations, repeated requests for the same information. It went on for weeks and weeks. It was literally a death by a thousand paper cuts. The underwriting went on so long, we went past our close date, and then a second extension. In the end we lost our earnest deposit. We had to sign an amended agreement and pay the sellers on a lease/purchase agreement to get our home. Finally after 45 days our loan was approved. If your broker recommends this company, find a new broker or have him give you an alternative loan company.
Refinanced my home. This company was the underwriter. They asked for more documents than you could imagine. Delay, delay, delay. Finally approved and financed my loan. I get a letter from them asking me if I want to opt out of them selling my information to anyone and everyone, I opted out. In the last week, I have received 4 letters from all pertaining to the same thing. I asked for none of this. I haven't even made my first payment to them. And now all of a sudden my spam filter is filling up with garbage. Where before I had 1-2 spam e-mails a day now I have 30, I don't think this is a coincidence. I'm praying that they sell my loan to another company, but I fear they will not.
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.
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.
Provident Funding Associates Company Information
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- Provident Funding Associates