Provident Funding

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

1 person found this helpful  

Great company for recent grads!

  • Career Opportunities
Former Employee - Mortgage Closer in Tampa, FL
Former Employee - Mortgage Closer in Tampa, FL

I worked at Provident Funding full-time (more than 3 years)

Pros

Great starting salary, plenty of overtime opportunities, weekly employee recognition. Small office/branch settings (4-6 employees on avg.). Great technology and systems. Bonuses are monthly. Ability to speak with owners and upper level management with ease.

Cons

No 401k, not a lot of room for advancement but raises are on par. Production driven but easy to meet goals.

Advice to ManagementAdvice

401k match!

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

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  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.  

    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.

There are newer employer reviews for Provident Funding

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