There are newer employer reviews for Provident Funding
There are newer employer reviews for Provident Funding

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Helpful (1)

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

  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Mortgage Underwriter in Pittsburgh, PA
Current Employee - Mortgage Underwriter in Pittsburgh, PA
Doesn't Recommend
Neutral Outlook

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

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.

Other Employee Reviews for Provident Funding

  1. 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
    Recommends
    Positive Outlook

    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


  2. If you have the talent, you have the opportunity.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Department Lead in Los Angeles, CA
    Current Employee - Department Lead in Los Angeles, CA
    Recommends
    Positive Outlook

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

    Pros

    1. Graduated from a top 25 university and started working here as a Customer Rep for 1 week. They promoted me because I top the chart in exceeding the 90+ call requirement and administrative tasks the first week on my job. Good indication that if you work hard, you will get promoted! 2. Stayed at my 2nd position for another 8 months (make a huge sum of money in commission) and top the chart again. I came up with some ideads and proposed a new business plan to help the company grow. The manager and the executives loved it and promoted me to lead a brand new department. They spport talent! 3. Very good salary for me so far, average at 25% annual increase. I'm not even 25, making about 80k/yr gross.

    Cons

    1. Some management issues as some managers are a little out of touch with the employees 2. Some offices don't have good infrastructure (but they are spending more money in improving them, so I guess it's getting better.) 3. Production employees, underwriters, closers, loan processors etc., are definitely overworked! They are also piling up cash from overtime though.

    Advice to Management

    1. Hire more people to reduce load work 2. Improve work enviroment with better infrastructure and team-building projects 3. Managers need to show their employees respect and spend time to understand the effort/time being put into completing their work rather than just shouting out orders.


There are newer employer reviews for Provident Funding
There are newer employer reviews for Provident Funding

See Most Recent

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