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I have had a loan with Provident Funding for 15 years and decided that it would be a good time to refinance my loan now that rates are low. I went with Provident because I thought it would be an easy transition since I was already a customer with never a late payment in 15 years and I have a perfect credit score 800+. What a big mistake! I locked the rate 45 days ago and for the last month and a half they have requested endless amounts of information. Upon supplying the information requested they continued to ask for more and more. It has been never ending and now the lock has expired and I need to start all over again.
In my opinion, I feel that they just want to keep me in the higher interest rate loan that I originated with them 15 years ago and were just delaying the whole process. I will still refinance my loan but it won't be with Provident! Read all of the other reviews... There's definitely a reason why so many people have given them a 1 star review. They're awful, look elsewhere for a mortgage!
We initiated a lot line adjustment which is a very simple process, yet Provident found a way to make it very complex. The wording and descriptions was very unclear, even the title company and another mortgage company did not know what they meant. Upon calling to clarify, all they could provide was an orated response of the same wording! When asked to speak with the person in charge of the process, they could only restate the already written description.
After uploading documents, waiting 2-3 days for them to review the documents, I would then have to call back to ask if they were correct, to which I would be told no. They could not provide me with what they needed, rather than they did not have the right information. After a cat and mouse game for 4 weeks of submitting different items until they approved, the administrative fee was paid to actually start the process.
The day after the process was initiated, the person who was in charge of the process calls me to clarify the same questions I had asked 4 weeks prior! Provident also demanded wording changes to the release document which they said I needed to provide. This is typically provided by the mortgage company releasing a property.
The delays and miscommunication of information continued. The appraisal was delayed by a week and then approval of the appraisal was delayed another week. I had to call back on a daily basis for 2 weeks to keep the process moving and try and get accurate information. I was always treated with the scripted greeting "Provident thanks you for your business", then followed by the opposite action when treated disrespectfully and given the runaround and excuses. I was promised calls back and updates to which I rarely received.
After discussing with a customer service "manager" and respectfully explaining the journey, I was asked what Provident was willing to do to help mitigate all the delays that they have caused for a customer of over 10 years. The answer was nothing, I just needed to be more patient. No offer to refund a small administrative fee, no attempt to even make a customer feel like they were wanted. Small gestures to make customers feel like they are being served go a long way. Lack thereof ends in lost business.
How to get negative 100 star? This lender does not even deserve one star!!!! I just got off the phone with them with a late loan payment due to the fire -power outage. The guy Whose name is Bill, ** is his number, told me that there is no one in the company is working today due to the fire in Santa Rosa. When I asked to talk to a manager. Too bad, I myself is in the North Bay, and knowing there is no fire today in Santa rosa, I insisted, and there is another guy, who is as horrible as the previous liar. They use the fire as a excuse, but they insist charging late fees, late due to fire)... I am refinancing, any lender will be better than this one. Never get a loan with this horrible, horrible company, I am an Realtor, Any lender will be better than this one.
I always pay early through my bank. This month apparently there was a glitch with the bank because my payment did not post. I sent payment as soon as I received a letter notifying me. I called to get the late fee waived as it was the first time being late and got a condescending run around from multiple people. All they care about is charging fees.
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.
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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.
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.
Provident Funding Associates Company Information
- Company Name:
- Provident Funding Associates