Provident Funding

  www.providentfunding.com
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77 Employee Reviews (View Most Recent)

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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

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

Other reviews for Provident Funding

  1. 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

    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
  2.  

    No communication from Management, dishonest business practices

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Los Angeles, CA
    Former Employee - Anonymous Employee in Los Angeles, CA

    Pros

    Unlikely that the Company will go under so employment outlook is fairly stable compared to the rest of the lending industry.

    Cons

    The workloads are not evenly distributed. It is common to see some employees running out the door at 5:00pm everyday while others are frequently working into the night and on weekends. Management disavows all knowledge of problems being reported to them. Employees ask for additional help or training repeatedly, their requests go unanswered and then Management likes to issue write ups when the problems come to light later in the form of bad press, lawsuits or scrutiny from regulatory oversight. They act as if is were the very first time they have been made aware despite a mile long chain of emails proving they were informed months prior, the Employee is usually blamed despite asking for help or attempting to have issues corrected. During annual audits they cherry pick the information they choose to give to the Auditors. If something is perceived to negatively affect their statistics they simply omit the information altogether. They are now offing their services to private label clients but have greatly overstated their ability to service loans outside their niche of conventional loan products. Employees have no experience dealing with many of the loan programs/types that Management is representing themselves to be "Experts" of. Employees that choose to give 2 weeks notice are often dismissed on the spot despite no past performance issues. Employees that leave are often later painted as being ungrateful or under achievers though they never had any performance issues while employed. The tone of emails from Management are often very hostile and threatening. Advancement is unlikely unless you are related to the Owners. Female employees have it even worse as there are extremely few women in any position of authority. The low number of paid holidays, poor raises, unreasonable workload and scant benefits package all further demonstrate that they view their employees as expendable rather than the Men and Woman who are making their lifestyle and success possible.

    Advice to ManagementAdvice

    None. You would never accept the idea that your way of doing things is less than perfect so any advice would be wasted on you anyway.

    Doesn't Recommend
    Neutral Outlook
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