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About Provident Funding Associates
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Provident Funding Associates (NMLS #3821) is a direct mortgage lender and servicer founded in 1992. The company publishes daily rates and discloses its fees on its website. You can apply for a purchase or refinance loan and manage your application, upload documents, track statuses, see statements and make payments online.
Pros & Cons
- Transparent rates and fees
- Rate lock up to 60 days for purchase loan
- Completely online loan management
- No FHA, VA or USDA loans
- Not available in half of states
Provident Funding Associates offers conventional loans for purchasing and refinancing in 25 states. The company publishes its rates daily and shows its fees and charges online. The purchase or refinance process takes about 30 days to complete. You can start the process online or by calling to speak with a mortgage consultant.
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Reviewed May 20, 2021
I have a rental property with the mortgage provided by Provident Funding. Back in Feb 2021, I switched the hazardous insurance from Company A to Company B. Within a day of the switch, Company B sent the bill to Provident Funding by fax asking for payment. Apparently, Provident Funding didn't pay. Company B sent another reminder bill in early May asking for the payment again. My local insurance agent also faxed the bill and called Provident Funding (and left a voice message with return tel #). Nothing happened and no payment sent to Company B. I, as the customer, called Provident Funding today about this no-payment issue. The customer rep told me that it is because the switch is mid-year change and they don't handle it. He also mentioned that Provident Funding sent an email in Feb to me. I never got that email (it may have gone to the Spam folder or whatever; it is yet to be confirmed).
Provident Funding never bother to send a letter or make a phone call to me about this, like many other company do. Now, when I called Provident Funding to request them to pay for the insurance bill, they said I need to pay for the overnight mailing fees for this payment. It is ridiculous for the charge. They waited until the last min and generate the situation, but asked the customer to pay for it.
More importantly, Provident Funding doesn't care customers at all. With all these alerts, phone calls, and faxes, Provident Funding should realize that the insurance bill needs to be paid soon. They don't even make any attempt to contact customer or insurance company, nor responded to the local agent's call. I even talked to a supervisor about this situation. He said "sorry to hear your situation and concern, and we can't do anything." I am going to move to another mortgage company soon with a re-financing. This is apparently a company that doesn't care about its customers at all. I wouldn't recommend any people to work with this company, Period! The company deserves a 0 star rating. But, the lowest I can give is 1 star, I guess.
Reviewed March 4, 2021
Got loan from them in 2009. Currently refinancing and my interest rate will go down over 2.5%. After three weeks of delay, I reached out to the customer service center and asked that they have the loan officer follow up. They have a pretty easy web interface where you upload your documentation. It's kind of inane that they are making me go through a full application, when they already have 11 years of payment history from me and my LTV is less than 25%.
Reviewed Feb. 16, 2021
Paid my mortgage on time but it was the new year so it had gone up $207. They rejected payment on Friday, I immediately paid the full correct amount but due to Pres. Day, it will be one day late. Will not waive late fee. I didn't NOT pay it, I just paid last years amt by accident and the banking holiday created a lost day. They do not care. 13 years with them and absolutely no help and did not care AT all. Still haven't gotten my rejected money back BTW. Their only solution was for me to pay a 3rd time (who has money to pay their mortgage 3 times in one week?) Horrific customer service.
Reviewed Jan. 30, 2021
I am surprised to see the negative reviews about Provident. I refi'ed last year with them after I could see the various rates on-line to compare with other lenders; there are lots of choices with points or credits, depending on your individual needs. I found the process to be easy and smooth, and got a good rate with enough credits to nearly pay for the real costs of the refinance. And I set up autopay (I see people unhappy for late charges when they miss the date - use autopay and this won't happen) so I won't forget to send a payment, no need checks anymore. I also changed insurance companies, and that transition to escrow management was also smooth. All in all I find Provident a very easy company to deal with. I only wish they had a license in another state that I am looking to buy! But is a no-brainer for me to give them 5 stars!
Reviewed Jan. 5, 2021
I have had my mortgage with Provident Funding for 3 years. I have never been late on a payment and in September I was 5 days late and incurred a late fee. The payment just slipped my mind and I honestly thought I had scheduled it in my online BillPay. However, my mistake. :( But in my defense my mom had died and I was struggling with grief - but still my error. I phoned customer service to ask if the fee could be removed or waived. I was told very rudely and bluntly that they never waive late fees for any reason, unless it is their error or mistake. I will be getting a new mortgage soon - and I will never recommend Provident to anyone.
Reviewed Dec. 29, 2020
I called today to get information on my existing loan and the representative refused to give me the information. I wanted the amount of interest I paid over the past year. I refinanced in 2020, so I had 2 accounts. He offered no logical reason for not assisting me, other than they are not allowed to give this information over the phone. They have in the past provided this information and been helpful, so this is Their New Policy, which makes no sense. I asked to speak to the Rep's supervisor, which I did. He, too, said they cannot provide that information.
Although their service is questionable and I can't recommend this company, I will say that both of the reps I spoke with were professional and courteous. So, this is apparently a decision at the top and the reps are left to enforce it. When I applied for my initial loan, my independent loan officer said that this company is "difficult" to deal with. He had issues with them, but the rates were good. My refinance went smoothly. But they are now exhibiting poor customer service.
Reviewed Dec. 28, 2020
Provident funding and associates Has to be one of the worst mortgage lenders available. Their customer service is nonexistent as they expected me to close my loan without ever speaking to anybody live. Whenever I needed to speak to somebody I would get no return emails or phone calls. I even went up the chain of command and still no response. I actually was supposed to close today and go figure, paperwork was not ready and my loan officer was nowhere to be found. Even tried calling his boss again with no response. So I decided these guys don’t deserve my refi and I have completely pulled the loan. Piss off Provident Funding as you have no right to be in business.
Reviewed Dec. 22, 2020
We've used many mortgage companies over the years, as we changed home a few times, and I can clearly say that we never encountered anyone like this aggressive, malicious lender. We have not actually signed with them - they bought out our mortgage from our original lender (without our consent or knowledge, of course), then they started off by charging late fees as our automated payments have continued to be made to the original lender. We haven't had a late payment/charge ever, by the way (in decades of history).
As a further example of their practices, although making our automated payments on time, this lender would return the payments and slap (substantial) late fees for "missing" an incremental change that they would have made to the escrow. When such adjustments have occurred in the past, other lenders have naturally applied our timely, regular payment and allowed us the grace time to update our payments to the new amount and submit the small escrow difference. This lender acts maliciously and in bad faith systematically. They'll wait for you around every corner. I'd stay away.
Reviewed Dec. 5, 2020
I have held a few mortgage loans with this company since about 2010 when I first refinanced. I recently refinanced, again, given the current low interest rates. As before, I found the lowest interest rates, points, and processing fees with this company having shopped around both times. (I have a high FICO score.) There are other great things to say about this company, such as its service and website. It is the only company I could find online that has a tool that allows prospective customers to see what rates are available for your specific loan, which I really like.
All other companies force you to give them your phone # and email address for them to contact you before giving you this info, which I really dislike. As an actual customer, the website is really good, too, with helpful tools and account info and easy to navigate. Overall, I have found the service to be very good, too, while going through the refinancing process and as an active customer, although there is an important exception I explain below.
The reason I give 3 instead of 5 stars is because there were "issues" during the loan process both times to which people should be forewarned. In 2010, some of the figures on the contract that the company sent to my local title company (which I chose) for the signing were different than they had been on all the disclosures leading up to the signing. This created a lot of anxiety for me since we were on deadline, and I thought it might derail the whole deal. It didn't, but were I not extremely detail oriented, I would have ended up signing a contract with higher expenses than what I was supposed to pay.
The most recent issue was more troubling. When I locked in the interest rate online, the confirmation showed the cost of the rate jumped up .25% more than what had been published on their website just a minute before. In spite of multiple emails and phone calls with the rep asking for clarification over the following month during the application process, I did not receive a clear explanation (by email) until the day before the signing. It is a long story, but it has to do with their appraisal fee, which they say they will "waive" under certain circumstances, but what they actually did was reduce the quoted fee (from $500 or $700 to $300) while not conducting the appraisal. In other words, I paid an additional $300 fee for nothing. This is never explained in writing on the website or the contract or even the disclosure form as the fee is folded into the points (the jump in points when I first locked the rate).
By the time the signing was scheduled, I had decided to go ahead with the deal even though this additional amount had still not been clearly explained because it was still a good deal and to have backed out would have cost me more. However, after the signing, I let the rep know my dissatisfaction, that the specifics of the "appraisal waiver" were poorly communicated and confusing, at best, and deceptive, at worst. I also asked him to share my concerns with his management/supervisors so they might, at the least, require better transparency and communication about this fee. Even better is to remove a fee for a service (an appraisal) that is never provided.
A last drawback of this company, for some, is that it is entirely online and almost all communication is by email, although the rep and I did speak by phone on a few occasions. Once I submitted the application, I had to digitize and upload the many, many documents that were requested, check my email daily, and respond to requests for additional documentation or information.
In my experience, the mortgage loan process is always onerous, and doing it entirely online is even more so. However, since I have the resources to do it online and it likely reduces the cost of the loan, it works for me. But for those who don't like conducting doing this kind of transaction entirely online, you might be better off selecting a local mortgage company, although the rates will likely be somewhat higher. As I said, there are many good things to say about this company. But this experience left a bad taste in my mouth. Would I go with Provident again? Maybe, but given the current historically low rates, I'm hoping to never to have to purchase or refinance another mortgage loan in my life!
Reviewed Sept. 30, 2020
After a month long application process, Provident said they could not find an appraiser to appraise our property (it turns out, Provident owns the company from whom they choose appraisers and will not use any one else). We actually found them local appraisers willing to do the appraisal and they refused to use them. Meanwhile, they were holding our $600 for the appraisal fee for over a month. Imagine if they got a $600 interest free loan from a million or more people!
If you do make the mistake of applying with them, be wary of Eric **, one of their so called customer agents. He would never return emails or phone calls during the application process, and never called us until a month later when he said they had to deny our application because of the appraiser problem. This despite fact that our combined income exceeded the amount of the loan, top notch credit ratings, and no debt other than the existing mortgage. We are contemplating reporting Provident and Eric to the Attorney General for the State of Colorado for investigation.
Reviewed Aug. 15, 2020
My experience attempting to refinance my loan with Provident was awful. Despite being a loyal Provident customer for 15 years +, and a credit score of over 800, they made it impossible. My loan consultant Fungai could not have cared less if the loan closed and was of no help. Completely ghosted me the last week of the loan lock. They couldn't have cared less if they got my business.
Reviewed July 28, 2020
I paid my Mortgage on time for more than 6 years... When I moved and refinanced in 2016 the escrow company paid off my balance of over $300.000 and it was posted a week after my due date... So now this is affecting my FICO score and Provident associate said there is nothing they can do... So much for being a valued customer...
Reviewed July 13, 2020
I had a mortgage from Amerisave that was acquired by Provident. When rates started to fall I applied to refinance. After application was submitted and Provident started the process I could NEVER EVER talk to my loan processor. Either never returned calls or sent me a email to answer my questions. When a problem arose the Title Company took care of the problem, I THINK. Although I got the loan, I still had questions at closing. They gave me 1 day notice of the time and date. The entire process had me worried from start to end. NO ONE WOULD RETURN CALLS, period.
Reviewed April 19, 2020
RUN FAR AND FAST BEFORE DEALING WITH PROVIDENT FUNDING. While going through a divorce, I found out that the Provident Funding mortgage on my house was way more than I thought the balance should be. After some very thorough investigating and finding mortgage documents, with a balance of over $225,000 when the original loan was less than that in 1997, I was shocked.
Evidently, the refinanced loan in 2011 incorporated a forged mortgage from 2005. The 2005 mortgage, verified by a handwriting analyst that not only did I not sign the loan documents in 2005, but my ex did sign the documents. Far worse, I had unmitigated proof that I couldn't have attended because I not only was in the hospital, but I was under the influence of narcotic drugs administered IV, every three hours round the clock. Any signature from me, even if it was my signature would not have been allowed because I could not legally enter into any contract while under the influence of narcotics.
To make matters worse, during the divorce proceedings, the arbitrator, retired Judge Dilts, from Somerset County, ignored the proofs and handwriting analyst submission, that it was not my signature and stated I must have known about the loan. How can a retired Judge totally ignore the rules of court and know what I was going through or thinking in 2005.
During the divorce, even though my ex was not allowed to stop paying the mortgage, due to it being part of support order he did. House like everything else was in his name only, but all liens, mortgages etc had to be acknowledged and signed by marital partner(NJ Law). This forced the house into the foreclosure process. Again, the retired Judge Dilts of Somerset County, NJ ignored the law and ignored the fact that there even was a house as part of the marital assets. He stated, since it is probably going to be lost due to the bankruptcy and it is in the jurisdiction of the bankruptcy trustee, we will just ignore it exists. REALLY. Ignoring a marital assets, no matter what's it status even exists IS CRIMINAL.
IT KEEPS GETTING BETTER. When I finally, got my divorce in January 2019, the Judge kindly gave me 60 days to refinance my marital home and save it from foreclosure. He didn't know or care that mortgage companies took far longer than 90 days to mortgage a home at that time, especially when it is a first time home buyer. He also didn't know and either did I that the mortgage company needed 6 months of income as proof of ability to pay.
The Judge ordered my ex to assist in anyway necessary, to refinance the home and to provide any needed documents. Since, PROVIDENT FUNDING was the CURRENT MORTGAGE HOLDER, I DECIDED, I WOULD WORK WITH THEM. I actually felt bad that my ex screwed them over for the money he owed them, so I would try to right that wrong.
First PROVIDENT BROKER TOLD ME NOT TO DO A LOAN MODIFICATION, SINCE HIS BAD CREDIT WOULD BECOME MINE. I later found out this was not true. They can't report on your credit report someone else history. Then I entered into the process of applying for a mortgage. I was immediately approved based on my credit score.
THE FUN BEGINS. I was made to jump through hoop after hoop after hoop repeatedly. I provided all the documents requested. Provident knew my ex was required to sign over a quitclaim deed, they conversed with him and they continually got miss information from him, but went with that instead of court orders. Even though my ex was required to maintain the marital home again based on court orders, it was such a mess, that after my approval I dumped all sorts of money into the home to bring it up to its original condition.
While the bankruptcy trustee, was going to make it a non-asset case I had the house fixed than appraised out at $480K approximately. In the dead of winter, Provident wanted the pool filled to the top. That alone cost $2200 to have water trucked in. The balance owed on the loan at this point was only $225,000 but rapidly growing with the $18 a day in interest.
After the appraisal, the Broker wanted me to have my ex sign over the quitclaim deed directly to them. Thus, saving them having to go through a foreclosure process and stealing my home from me. I realized this and told them no, the Judge said he was to sign it over to me. Mind you now it is May and my 60 days has long passed. My ex is pushing to sell the home to a house flipper to get out of the mortgage and cut me out of any profits from a normal sale.
Because I refused to have my ex sign the deed over to them instead of me, they pulled my approval. That is right after dragging the process out, knowing the parameters of the court order, they pulled the approval because I would not have my ex quitclaim the deed to them. Through this whole process, I had continued to put money into the house thinking I was investing into my own home. Now, Provident funding decides to pull the loan approval after I dumped money into a house, they were now going after with over $200k of equity.
PROVIDENT FUNDING, way back in 2005 started these abuses in motion. Their notary or closing attorney should have never closed on a loan, which removed all the equity from my marital home, without me being there. That is what a notary is required to do when notarizing a signature, verify that the person is present and watch them sign the documents. That didn't happen.
When the mortgage was refinanced in 2011 and I was coerced into signing right in front of the mortgage companies representative/notary. The process should of stopped because she could see I was under duress. I also was never allowed to see the terms or the whole document package I was required to sign. I was only allowed to see the signature page. The mortgage incorporated a past mortgage I did not participate in acquiring and the current document, amounts and terms.
I was told to just sign and that the term of the mortgage was the only thing that changed. The mortgage would go from a 30 year term to a 10 year term. AGAIN LIED TO, IT WAS A 15 YEAR LOAN AND THE AMOUNT WAS INCLUDING THE AMOUNT FROM THE FORGED MORTGAGE FROM 2005 which I never became aware of until 2018
Now it is 2020, amidst a Pandemic and a moratorium on foreclosures, I get a letter from PROVIDENT FUNDING'S ATTORNEY, that my home was going up for Sheriff's sale. Ignoring the reason for the Governor's order, so not to stress people during these trying and unprecedented times. Not provident, they could care less that a disabled woman, suffering from cancer to name just one such major illness was served with notice of a sheriff's sale.
While this part isn't PROVIDENT FUNDING'S ISSUE, my ex in January, long before the PANDEMIC, fled the State of NJ, never informed the Probation department as required of his move and stopped paying support. So here I sit, waiting for a sheriff's sale with no money to go anywhere and nowhere to go with my 2 service dogs.
PROVIDENT FUNDING BROKE ALL SORTS OF LAWS BY ALLOWING A CLOSING WITHOUT BOTH PARTIES PRESENT AS FAR BACK AS 2005. When I brought this to their attention, they take no responsibility for not doing their due diligence. It was no one, but Provident funding's responsibility to make sure I was present for signing mortgage documents on a marital home in new jersey in 2005.
Provident funding has go to be the most unfeeling, unscrupulous mortgage company out there. If they would go this far to harm an innocent spouse in New Jersey, what else can they do to anyone applying for a mortgage. It doesn't cost anything to hunt for mortgage companies. Do your due diligence and find a mortgage company that won't take advantage of you. The only thing this retired Judge did for me in my divorce, was to allow me to take legal action against the mortgage companies, which when I find a great attorney I will do so. I CAN'T STRESS ENOUGH TO RUN FAR AND FAST FROM THIS MORTGAGE COMPANY.
Reviewed Feb. 5, 2020
If your loan gets assigned to Andy **, Pipe Analyst, from Texas... run!!!! He’s incompetent and will cost you money. He gave us false information during our refinance which cost us our approval. Then he denied every saying anything, even though I told him I had emails documenting him asking for said documents. All he could say was sorry. I’m thrilled to know that Andy ** will just get a slap on the wrist and Provident Funding will carry on making money while we pay for Andy’s mistakes with our hard earned cash. The best part was that Provident Funding asked us if we wanted to refinance our loan. They said they’ll help us and that we are capable of getting a smaller interest percent. I bet Provident’s staff gets bonuses for bringing in new work and benefits off our troubles.
Reviewed Dec. 20, 2019
I've been a loyal customer for 4 years, never late or missed payments. My Provident auto-pay was rejected by my bank in error and without my knowledge. When I noticed my checking was a little high and found no mortgage taken out, I called my bank and got it figured out. My next call to Provident was atrocious. The first rep wouldn't even talk to me, just verified me and said I was being transferred to the department best capable of handling my situation. (Keep in mind, I hadn't told them my situation yet, I didn't tell him why I was calling.)
When the second woman answered, I asked what department I was transferred to. She said it was the collections department. (I was 3 days past the due date.) The representative was short with me, would waive any fees, wouldn't explain why I wasn't notified and in fact told me there is no process to alert me to a missed payment other than a paper delinquency form which is mailed USPS. All in all, the entire call made me feel more and more upset. When asked how I can provide feedback on the situation she said their address is on the website and I can mail a letter. I'll never recommend this company and will move my mortgage first chance I get.
Reviewed Dec. 10, 2019
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!
Reviewed Nov. 26, 2019
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.
Reviewed Oct. 31, 2019
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.
Reviewed Oct. 23, 2019
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.
Reviewed Sept. 17, 2019
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.
Reviewed Sept. 12, 2019
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.
Reviewed Sept. 11, 2019
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.
Reviewed Aug. 11, 2019
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.
Reviewed July 18, 2019
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.
Reviewed May 19, 2019
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.
Reviewed April 23, 2019
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.
Reviewed April 22, 2019
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.
Reviewed April 14, 2019
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.
Reviewed April 10, 2019
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. **.
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- Provident Funding Associates
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