Provident Funding Reviews

Updated June 30, 2015
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5.0
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Craig Pica
4 Ratings

Pros
  • Opportunity offered to recent college grads (in 9 reviews)

  • Good learning experience, good entry level job (in 10 reviews)

Cons
  • Extremely cheap company - No 401K match (in 13 reviews)

  • It would be nice to have a 401k match and more leniency with make up time (in 11 reviews)

More Pros and Cons

6 Employee Reviews

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  1. Origination

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Origination in Chicago, IL
    Current Employee - Origination in Chicago, IL

    I have been working at Provident Funding full-time (More than 5 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    The company is established within the mortgage industry by employing ethical standards - best rate mortgages for best qualified customers. The work environment allows for best and brightest to shine through - hard workers, self-motivators, dedicated to high standards employees will be noticed and leveraged. Executive Management's vision is clear - organized structure, high expectations, and structured advancement.

    Cons

    Retirement benefit may be up to par within industry, but company compensates by rewarding through base pay, pay raises, and commission/bonuses - hard workers and dedicated to company are rewarded.

    Advice to Management

    Continue to set vision clear - organized structure, expectation for high standards


  2. One of the best run mortgage companies

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Mortgage Consultant
    Current Employee - Mortgage Consultant

    I have been working at Provident Funding full-time (More than 10 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    I started my career at PF directly out of college, like many of my fellow colleagues. I've had a fantastic career in loan origination with the company. I'm a firm believer that if you put in hard work, and find ways to work smarter and more efficiently than your peers, you will get rewarded nicely here. That's just like any other company. Nothing in life is ever handed to you. You have to earn it! It may not always be immediate, but good employees and talent gets recognized and rewarded appropriately.

    I've read through some of the other employee reviews on this site, posted mostly by former employees, and unfortunately they blame the company for their own short-comings.

    The company is very straightforward and ethical in how it operates with its customers (borrowers/brokers/lenders) and employees. It's managed incredibly well from the top. It's one of the few privately owned companies that survived the mortgage crisis. If you like to roll up your sleeves and work hard, and want to work with an ethical mortgage company, PF is a great place to work.

    Cons

    None at this time .

    Advice to Management

    Keep doing what you've been doing.


  3. Great Opportunity if You Work Hard

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous
    Current Employee - Anonymous

    I have been working at Provident Funding full-time

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    The company rewads hard work done well. Starting pay is well above market and if you perform well over 10% raises are common. Conversely, if you don't perform well and think you will slide, this is not the right company. I've seen them move quick to remove those employees, which I personally appreciate. Additional opportunities and responsibilities come as you demonstrate your ability. There are great coworkers who are mostly recent college grads. Our CEO talks to us to provide company strategy and market updates.

    Cons

    It would be nice to have a 401k match and more leniency with make up time.

    Advice to Management

    You've built a fantastic company with a great business model. Keepic rewarding your best employees, we appreciate it!


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Get what you give

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Provident Funding full-time (More than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    •Upper management-We have conference calls once a month where members of upper management talk to us about the past month, future goals and what is going on in the mortgage world. I’ve never gotten off a conference call not feeling confident about the company’s future. Upper management really seems to have it together.
    •In periods where companies in the mortgage industry are laying off employees in droves, Provident Funding seems committed to making the best of the situation by either cross-training employees or restructuring to take advantage of other opportunities in the sector.
    •Little micromanaging- Many branches don’t even have management at the branch. When management is in the branch, they sit in the bullpen with the rest of the employees and make themselves easily available and approachable.
    •Career opportunities- If you make an effort, they’ll make an effort. This is a fairly small company so every employee has the opportunity to be recognized. In the time I’ve been with the company, I’ve been given so many opportunities-some without me even having to ask. If you do a good job, you’ll be rewarded.
    •Great work environment- They recruit people based on the obvious grades, extracurricular, etc., but they also take into account the other employees at the branch and how a candidate would fit in with current employees.
    Way more pros than cons to this company, this is a really great company to work for and those complaining probably didn't realize what they had/have

    Cons

    •They could be a little more flexible when it comes to the 8-5 work day. I’m sure some employee abused a more flexible work day and ruined it for the rest of us, but it would be nice if we could a schedule doctor’s appointment over our lunch break and not break out in a cold sweat trying to get back to the office within the hour.
    •They don’t provide a 401K match.

    Advice to Management

    Keep Summer Fridays, be a little more flexible, and consider a 401K match after an employee has been with the company an X amt. of time


  6. Company executes well, room for employees to take ownership

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Provident Funding full-time (More than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Flat structure, little micromanaging, breadth and variety of job duties, compensation, overtime often available, stable company, doesn't implement fads or gimmicks but builds momentum through consistent execution of the basics, leading to continuity in work expectations and environment.

    Cons

    "Soft" employee perks such as fringe benefits package and scheduling flexibility

    Advice to Management

    Opportunities for increasing scheduling flexibility without detrimentally affecting production exist and can be taken advantage of to increase worker satisfaction


  7. Helpful (1)

    You get what you put in

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Mortgage Underwriter and Closer in Pittsburgh, PA
    Current Employee - Mortgage Underwriter and Closer in Pittsburgh, PA

    I have been working at Provident Funding full-time (More than 3 years)

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    -Hard work is noticed and rewarded
    -Fellow employees are friendly and easy to get along with
    -Good pay and great increases
    -Upper management is easily accessible and willing to listen to ideas
    -Promotions are earned and not given for tenure

    Employees need to understand the basis of the company and be on board with the overall goal. Provident creates a very concrete product and expects its employees to do this efficiently. If you are not found of working hard and actually earning what you make, I suggest you steer clear. Great company to work for with solid ideals and morals in a less than par industry. Helps to build great communication and multitasking skills as well as a solid work ethic.

    For the reviewers who stated the job consists of looking at a computer screen for 8+ hours, I ask, what did you expect to do with that finance or accounting degree?

    Cons

    -Structure for advancement could be clearer



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