Provident Funding

  www.providentfunding.com
  www.providentfunding.com
There are newer employer reviews for Provident Funding

 

Only Work at Corporate!

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Former Employee - Anonymous Employee in Burlingame, CA
Former Employee - Anonymous Employee in Burlingame, CA

I worked at Provident Funding

Pros

I started as a college grad like people in all the reviews, but I was luck to work in corporate instead of being in a branch or servicing department. Pros about the company is don't need to worry about company going down. I was paid very well (average 20% paid raise every year.) Don't need to work a lot of OT, don't need to travel. You will move up fast if you have a special analytical skill or know when to say what.

Cons

Normal channel will not get people to move up the corporate ladder. Only 3% of the emplooyee working in a branch or servicing department get promoted. Need to ask for annual review else no pay raise. Bad employee benefits.

Advice to ManagementAdvice

Some special bonus or benefits to employees would retain more people in this refi boom.

87 Other Employee Reviews for Provident Funding (View Most Recent)

Sort: Rating Date
  1.  

    Just not an enjoyable place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Mortgage Underwriter in Nashville, TN
    Current Employee - Mortgage Underwriter in Nashville, TN

    I have been working at Provident Funding

    Pros

    -Friendly co-workers
    -Paid Training
    -Ability to leave work at work and not have to think about the work all day everyday.

    Cons

    -Work makes you feel like a mouse on a wheel. Working hard but going nowhere.
    -Upper Management uses fear tactics to get results. It is always do this or you could get fired.
    -Nothing but staring at a computer for 8+ hours a day with little or no talking in the office.
    -Management shows absolutely no trust in employees.
    -Work feels like a Mortgage sweat shop.
    -Turnover rate is incredibly high. People take it because it looks good on paper but within a few months realize that it was a terrible mistake.

    Advice to ManagementAdvice

    Trust your employees. A little freedom and flexibility is not a bad thing. If you treat employees well to start off with you wont have to always threaten them to get what you want and the retention and employee attitudes will improve drastically.

    Doesn't Recommend
  2. 6 people found this helpful  

    BEWARE -- Working at McDonalds may provide more satisfaction than here.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Mortgage Underwriter and Closer in Tampa, FL
    Current Employee - Mortgage Underwriter and Closer in Tampa, FL

    I have been working at Provident Funding

    Pros

    This job is one that pays -- if you have student loans and are absolutely desperate...although I highly caution you to look else ware beforehand.

    Cons

    Provident Funding Associates L.P. is split into two large divisions: Retail and Wholesale.

    Retail Department consists of Servicing, Correspondent Lending, Secondary Market, Customer Retention whereas Wholesale Department is solely Underwriting and Funding for 3rd Party Brokers.

    If you come from a Top 25 University I strongly urge you to look elsewhere...you may be fooled by the job description initially (ie. Mortgage Consultant, Servicing Analyst, Servicing Specialist, IT Analyst, or any other buzzwords). Here's the scoop -- if you work in the Retail department...you start off as a Customer Support Specialist. Imagine being heavily micromanaged and taking over 90+ calls in one day to be considered "on par." If you work for Wholesale department...you will be crosstrained as an Underwriter and Funder (eventually) and expect to take 50+ calls while working from brokers who demand to have their loans processed.

    Company morale is at an all time low, the average age group is 21-30. The reason being is that the compensation and benefits are laughable at best. The people who stay are usually unmotivated and have nowhere else to go.

    Management is ridiculous -- I highly doubt they even train their employees on management. Imagine a kid watching Boiler Room or any other typical Wall Street movie -- now s/he is your boss!

    Compensation is as follows:

    $20.19/hour (was much lower when I started), $41,995.00 Annual first year (provided that you work the standard 40 hours)
    4 Paid Holidays per year -- expect to work Christmas Eve folks!
    12 PTO (Paid Time Off -- consider this your vacation/sick days) -- accrued 8 hours per month.

    Enjoy and good luck! Don't say I didn't warn you.

    Advice to ManagementAdvice

    You are not fit to manage.

    Doesn't Recommend
There are newer employer reviews for Provident Funding

Work at Provident Funding? Share Your Experiences

Provident Funding

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.