Provident Funding

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

 

MC

Former Employee - Mortgage Consultant in San Bruno, CA
Former Employee - Mortgage Consultant in San Bruno, CA

I worked at Provident Funding full-time (more than an year)

Pros

It's a relatively young company composed of new and recent graduates, they are easy to talk to since you will be within their age group.
The people there are nice unless it's your manager. Those are different groups of animals.
There are bright people within the company who can do well.
For goal oriented people this place offer a little nice reward if you get to a MC position.

Cons

You need to know what you are getting your self into. Career growth is almost none if you are not a type A person who would constantly market yourself and get your manager to notice you.

There is no middle management. Once you get to know the management you notice their last names are awfully familiar.

Respect is secondary.

The work is repetitive and machine like.

Benefits are rudimentary, you get basic health package and no contribution to retirement/401k.

Advice to ManagementAdvice

None. Sir, you have build a wonderful machine, just keep the cogs oiled and you will do fine.

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

Sort: Rating Date
  1. 1 person found this helpful  

    If you thrive on conflict, stress and micro managing, you'll love it here!!

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

    I have been working at Provident Funding full-time (more than an year)

    Pros

    You will get paid to work. It's easy to get hired. If you went to college, show up to your interview on time, and don't say anything too weird you'll get hired.

    Cons

    You start out with 0 days vacation/sick and earn days as you work. You accumulate less than 1 day per month until the 2 year mark then you earn a fraction more per month. You don't get most holidays off, you can count on 4 - 6 paid holidays per year depending on if days like Christmas and New years fall on the weekend or weekdays. There's also serious pressure to work overtime during the busy times (which is the majority of the time considering the company is wildly understaffed). You are bothered all day long by brokers, title agents, managers and fellow co workers telling you you're doing things wrong. There's pressure to have perfect work and not get audits so staff will turn on eachother and try to pass the blame to whoever they can to avoid an audit exception in their employee file.

    This company is also obsessed with reports. Every task you complete has a point value assigned to it. Every day production reports are emailed out to every employee. These reports list every single person by name and shows exactly what they did the day before and if they hit their 100 points or not. They even go as far as to put little red and blue lines in the report to highlight who didn't hit their points that day. Then every monday, we get a weekly production summary. Month end, we get a monthly summary etc etc. These reports don't take into account days you were training, or assigned to a non point producing task such as calling on pipeline to get conditions in. The reports also don't account for holidays or PTO days. So you can hit over 100% every day you are at work and still have a below average production rating if you dared to take a day off of work. They also send out audit reports listing everyone's name and any mistake they've made.

    There is no work life balance. When interviewing, if you talk about your aspirations to pursue an MBA or other degree program, you probably won't be hired. They want workers straight out of college with no families who are need to pay student loans and gain work experience. They do not value their employees at all.

    Advice to ManagementAdvice

    There's currently a movement to hire new employees. The focus is, what can we do to get more people in the door? Stop focusing on that and start focusing on your enormous turn over rates. Focus on making the environment less hostile and stressful. Instead of having the CEO say, "hey I want you guys to enjoy coming to work and have fun with in" then having zero follow through and zero changes, start doing something about it. You can't just will people to enjoy their jobs when you know it's a tough and stressful job. Put your money where your mouth is too. We're setting company records for volume and quality but we still only get $6 each to buy a nice lunch for ourselves for the "Christmas party." You can't even get a combo meal at jack in the box for $6....seriously.

    Doesn't Recommend
    Neutral Outlook
  2. 1 person found this helpful  

    You get what you put in

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    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)

    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

    Recommends
    Positive Outlook
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.