Provident Funding Reviews 8

Had my mortgage with this company. During refi we agreed on rates for a rate lock. I made it very clear the rates and terms for my lock and confirmed in writing. Once final paperwork was received, the terms and rates had gone up. Broker says it was because the rates changed overnight and because he locked it in there is nothing more he can do. I said shouldn't I have been told the rates changed BEFORE he locked it in, so that I could have made the decision to lock or not? My question was totally ignored and their response was "You either want to proceed or you don’t." This amounts to fraud. Don't get conned like I was.

I cannot in good conscious recommend this company.
I have had my home loan with them since they purchased it from my last mortgage company.
I have never been late and I have more equity than debt on my loan. I have a credit score in mid 800's,

Recently I had cancer and surgery and a pile of medical bills since June 18th. I have been fighting with the hospital for 3 months to be refunded from my cash overpayment for my surgery and hospital stay.

To be clear, Provident allows payments to be processed between the 1st and 15th. Due to my cash flow as self employed business owner, I always pay closer to 15th.

Today I made my payment and it was less than 2 business days late(past their cutoff of 15th). So after reviewing my payment history and loan I saw I had several payments post outside of that window without a charge so I called.

I spoke with two people. A front line CSA and a supervisor. I explained my situation, my cancer and medical treatment, and why I was confused and calling. They explained several things:
1. Due to their investors requirement, they allow ZERO flexibility and or exceptions to waive any late fee.
2. That when a payment posted AFTER the 15th, is was automatically extended to the next business day. So those dates that were past the 15th were because the 15th fell on a weekend or holiday.
3. There is no exemption for or an allowance for medical or financial duress. It does not matter t them-specifically stated by both reps/employees as being an INVESTOR policy.

If you are a senior or if you think you may ever find yourself in a medical and unexpected health emergency and think this company might be flexible or work with you in any capacity-they will not. Both employees made it clear that while they were sorry for my situation and what I have dealt with, their investors simply will not allow ANY exceptions.

I know one thing, I did not have cancer on my bingo card. I did not have the idea I would be faced with over 120K in hospital bills(all paid for and in good standing). I certainly did not think a company would reply in such a rigid and uncaring manner-apparently all doing what the owners say they have to. As a business owner and one who grew up in a family of business owners, I would never think to treat another person in such a manner.

I made a mistake while imputing bank information, left a digit off. I caught the mistake after payment not being taken out of my account, I called and initiated the wrongdoing, They could care less and charged a $25 fee. I asked a supervisor if it could be waived since it was a mistake and I have been an on time paying customer for years. The response was no. Hard to believe that Provident Funding needs the $25 for their bonus program and they have "supervisors" that are incapable of making a $25 decision to promote customer satisfaction.

We've processed a handful of loans with Provident and as long as your loans are simple, cookie cutter, and don't require any moving parts then you'll be good. Our account executive, Logan Collier, is not helpful and compared to our other AEs at Freedom, The Loan Store, EPM etc, he is at the bottom of the barrel. If you need any assistance escalating a condition he will just go back to the underwriter and partner with them saying they did all they could, even when they are wrong. He or the underwriter will never give you the contact information for an underwriting manager so they portray themselves as the "end all" which is not good since we caught the underwriter and Logan in lies and cover ups. The "senior" underwriter in question, when asked for help, instead wanted us to play a guessing game on what was required to satisfy a condition and told us we could move forward with making a borrower pay for his tax return to get amended and it "might" work. We tried calling Logan to get his help several times after he directed us to go back to the underwriter (and the underwriter was again unhelpful) but he never called us back and ignored us. Finally after the Broker Owner informed him he was going to end the relationship he called him. As you can see, the service is horrible so if you think at all you may need help with anything don't count on it.

This company makes a lot of money charging their customers late fees!!! I read through many other reviews stating the same thing. Be aware that they have a two step verification when paying your loan. I am getting familiar with their system since my lender sold my loan to them without notice!!! I had automatic payments being made with my previous lender. I Saw the letter from this lender thinking it was junk I tossed it. I received another one and opened to find out my loan was sold to them. They charged me $32.66 for a late fee! They said they gave me a 60 day period to remove any late fees since many people don’t know their loan has been sold to them!!! They talked about their policy and being without compliance. This is not the standard way that many lenders operate. After the 60 day period they don’t offer any grace. Stay far away from this company if you don’t want to have a lender that offers no grace on paying your bill only a little late bc you’re getting familiar with their system. I can see if late payments were a repeated issue. Which is actually becoming more prevalent as the economy changes. This company will possibly be a nightmare for anyone that’s experiencing financial hardships. Btw, Make sure you hit the second prompt to make sure your payment went through. I wouldn’t let your lender sell your loan to this company like mine did! It’s awful that you don’t have control over this.

Rates but high but all rates now are very crazy. Supportive customer service and very nice personal.

I love working with this company. They have great rates and great service. We we first originated the loan they reached out to us to make sure everything went well, asked how they could help or answer questions. Their site is easy to use and intuitive. The only reason I did not give them 5 stars is because they are very nit picky about everything in the origination process. I knew this going into the process and was happy to deal with it because they have awesome pricing and service. The 4 stars is to warn others that you need to understand you need to follow there process during origination, after that everything is smooth sailing.

I've had a mortgage with them since 2019. During the purchasing process, everything's online. Great communication, e-docs processing and transparent project management.