Provident Funding Reviews

Updated March 18, 2015
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2.3
93 Reviews
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Craig Pica
30 Ratings

Pros
  • Opportunity offered to recent college grads (in 9 reviews)

  • Solid entry level pay for recent graduates (in 10 reviews)

Cons
  • Extremely cheap company - No 401K match (in 13 reviews)

  • It would be nice to have a 401k match and more leniency with make up time (in 11 reviews)

More Pros and Cons

Employee Reviews

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  1. My experience

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Provident Funding

    Pros

    Clearly defined roles. Good pay. Management is good. Solid growth potential as a company.

    Cons

    No flexibility with work schedule. Advancement opportunities rare.

  2. 2 people found this helpful

    I would rather have my legs broken than to work here again.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Provident Funding full-time

    Pros

    You will get to experience and see what it is like to suffer and do meaningless, boring work that a middle schooler could do. You will learn how NOT to run a company. When people ask you what your happiest day of your life was, you will have a clear answer for them, and that answer will be: the day you left Provident Funding.

    Cons

    Let’s start with a fun game. Try to find another company on this site with more reviews than Provident Funding, but with the same rating score or lower. I guarantee it will take you a long time to find another company on this site that meets this criteria. The point I’m trying to make is, Provident has so many negative reviews, which should tell you something about the company. Everyone knows that the positive reviews are probably given by upper management. All of the bad reviews are true. Recently, I read through the review written on March 2, 2015, and couldn’t help but laugh because I saw so many similarities between that person’s experience and mine. If you are thinking about applying to this company, read every single review first. You are making a life-changing decision and you need to be as informed as possible. In other words, don't bother applying here. Trust us.

    Let’s talk about the company. First, the pay is low and the benefits are slim. There’s no 401k company match at all, and you only get like 5 holiday days off a year. You must be in your seat by 8am and work until 5pm or later. Even on days where everyone is done with their work, no one can leave before 5. This strict policy really turns off a lot of employees, and we think we’re being treated like children. Managers talk condescendingly towards you, and no one in my office was happy with their job. Unless you are a manager, everyone wanted to find another job as soon as possible, and no one saw Provident as a long term option.

    But I wouldn’t even apply here at all. They literally hire everyone. They rarely lay off employees because they know that it will be hard to hire people in the future, since this company has such as bad reputation on this site. Think about it. No one in college says "When I graduate, I want to work for Provident Funding!" The people that end up here are the people that went to a bad school or got bad grades in college. Don't make the same mistake that we did. Apply to other places. Don't settle for Provident. You will have better experiences elsewhere. It's not worth it to suffer here, even if it's just for a year or two. Life is too short.

    They also don’t pay that well so they are just looking for desperate people to apply. When you interview, you literally only meet one person. Some people get to meet two managers. But usually when you interview for a company, you at least get to meet more than 1 person on the team. I think the reason they do this is because if the candidate met other employees, the other employees will talk bad about the company. This is how Provident brainwashes everyone who applies to the company. Only top level managers who are favored by upper management, who are groomed by them, get to interview prospective candidates. Unless you are at the top already, this company is not for you. And usually, the manager isn't even working in the same location as you. What kind of company won't let a prospective candidate talk to even one person who will at least work in the same office location? So usually the company will have the manager fly in from another city to interview all the candidates. I wish I had seen this red flag when I applied. They like to hire recent college grads so they can brainwash them easier. Don't fall into their trap.

    The actual work you do, a fifth grader could do. The company doesn’t even use Excel, so there literally are zero transferable skills that you learn. Unless you count stacking hundreds of papers in a day in the proper order a “skill”, you won’t learn anything here. Also, you will learn how to tell whether someone’s signature looks the same from page to page, as you check whether they dot their i’s and cross their t’s. Like I said, me and my fellow coworkers felt like useless robots, doing the same work every day. The work that is done here, a robot could do. You will be doing the same thing every day, and wondering why you even applied to this company. You will wonder what you are doing with your life, by working in a modern day sweat shop. Like some other reviewers, I also became depressed while working here, as I thought I wasted my degree to work at such a bad company doing boring, easy, useless, mindless work.

    Also, you will work with some difficult people, such as outside mortgage brokers and outside closing agents. Some of those people are really difficult to work with, and won’t follow your directions, so you have to explain to them over and over how to do things. Sometimes brokers and closing agents will yell at you even though it’s their fault a file didn’t go through etc. Just save yourself the headache. You will be treated like trash here, by upper management and the aforementioned people.

    Most people who are in middle-management positions and higher are people who have been in the company for many years already. There just aren’t enough higher positions to go around for newer people. There’s people who have been working here for over 8 years, who still have the same position as when they first started. That is another huge red flag about this company. This company is so selfish that they don’t even promote people to “senior credit analysts”, or “senior closers”, or “senior underwriters”, or senior whatever. That’s why there’s so many people in the company have the same positions for so many years. If you are looking to apply to this company now, there’s no way you are getting promoted to a manager, so you will most likely stay a credit analyst, or closer, or underwriter, or servicing analyst forever.

    It is also extremely hard to take personal time off. Even if you want to take a few hours off, you need to submit it 2 weeks in advance. This is extremely selfish of upper management to have this policy. Sometimes, people need to go to appointments or whatnot, and it’s unreasonable to expect everyone to submit a PTO request two weeks in advance. Thus, everyone gets the sense that regional managers treat everyone like children. It brings down morale, and no one likes getting treated like a child. Thus everyone wants to find a new job. Even after you submit it two weeks in advance, managers will ask you a hundred questions as to why you need to take a few hours off. Who likes to be treated like that? The CEO should seriously consider changing the PTO policy and stop giving regional managers so much power. Everyone is human. We all have needs, and sometimes we have emergencies in our lives that require us to take a few hours off. The company isn't so busy that even if someone took a few days off, it would barely be noticeable. The company just has this policy because they feel like it, and to remind us all who's boss.

    There’s also blatant favoritism in this company. If you have the same last name as the owner of the company, you will be promoted. This goes back to what I said earlier about people who have been here for over 8 years and still have the same position. Hard work isn’t recognized in this company, so most people just leave after a few years. Regional managers don’t care about you as a human being. Most regional managers don't work in the same office location or same city as you, so they don't get to know you personally. They only care about your production. They don’t treat you like a human being, hence they ask you a hundred questions every time you want to take time off. They talk to you like you're a machine. It's really hard to get to know someone if you don't even work in the same location as them. Most branches have a branch lead, but these people don't have any real power. They can't interview candidates, and they are only closers or underwriters who are paid slightly more than a regular closer or underwriter. And even branch leads don't like their jobs because they are doing the same boring, useless work. They have zero decision making ability within the company. Again, if you are a new employee, it's highly unlikely that you will become the branch lead, so save yourself the headache and apply to another company.

    Also, you have to dress business casual even though you literally never see clients. Everything is done over the phone and email. We get casual Fridays though. So why can we dress casually on Fridays but not any other day? This is just another useless rule that management has. If we got to wear casual wear, like jeans and a t-shirt for example, we would at least be more comfortable in our chairs doing the boring work for 8 hours a day. I understand if we do client-facing work, but we literally don't see the brokers, borrowers, clients, and closing agents we work with. It's just another useless policy that management has because they like controlling us, and enacting the policy to remind us who's in charge. This company seriously underestimates employees. They forget that employees are a company's most important asset. Everyone is leaving and turnover is high. All the good people leave. The company is doing well, yet they underpay everyone. When the company starts to fail, and they see that all the good people left, they will see that they should have treated everyone better.

    Also, they transferred a bunch of people to different departments, such as servicing. The reason they did this is because they can't hire new people to do servicing because no one wants to apply to a servicing job. So they hire people for a general credit analyst position, and then do the bait and switch. This is an extremely shady business dealing, so don't believe any words that your interviewer says to you. Like I said before, managers only care about your daily production. They don't care about you as a human being because they don't even work in the same office as you so how could they know you personally? This company is not worth applying for. Even if you need the money, I implore you to apply elsewhere. It will be hard to apply to other jobs once you work here, because of the strict PTO policy. Don't be one of those people who say they will work here for a year or two, and then apply to other jobs. It will be extremely difficult for you to interview at other places due to Provident's strict PTO policy, so don't bother. Don't make the same mistake as all of us.

    Also, the offices are as bland as can be, and you can tell that all your coworkers hate their jobs. Everyone wants to leave, and no one sees this company as a long term option.

    I should mention the monthly conference calls we have. I have never heard so many buzzwords in one sentence in my life before. It seems like these calls were made so that upper management can hear their own voices. Literally, no one cared about any of the information that was given, and it was a complete and utter waste of time. Please get rid of those calls. No one cares about the information that's given. It's the same thing every month. "Keep pushing, cut down on the errors, work faster, etc".

    Advice to ManagementAdvice

    They will never listen. Just look at all the previous reviews. Did they change anything? No they didn't. They only care about profits and they don't care about each individual employee. Stop promoting family members over people who are more qualified. Stop showing favoritism to a select few, and pay people what they are worth, instead of paying people in the inner circle way more.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3. 10 people found this helpful

    I Suffered Worse Than Christ

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Credit Analyst in Philadelphia, PA
    Former Employee - Credit Analyst in Philadelphia, PA

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

    Pros

    You can't possibly know how good life can be until you've hit rock bottom.

    Cons

    Let’s talk about Provident Funding.

    Before I begin, I’d like to make one thing clear: it is not Provident Funding’s fault that cubicle life often feels empty and soul-sucking and unfulfilling. I do not blame them for the general drudgery of office work because you are going to get that no matter where you go. That’s just the nature of jobs like this—you get paid pretty well to click buttons, make Excel spreadsheets, and use computers to do complicated tasks that used to take humans hours to do manually. So what I’d like to talk about instead are the quirks and idiosyncrasies that turn this place into something much worse than another boring office job. I’d like to share some of these with you.

    When I started working at Provident, interest rates were historically low and there were enough loans coming in every day to keep everyone busy. I worked with two other new people and three more experienced workers (all under 27, mind you), and we developed a great chemistry together. There was no manager in the office, so we were basically just a bunch of unsupervised kids. This is one of the first paradoxical elements I encountered while working at Provident Funding (I am going to point out a lot of these): the company micromanages nearly everything you do, but in many of the offices, there are no real “managers” present. There might be “branch leads” or “branch captains”, but these people are basically just closers and underwriters who get more money. They don’t have the ability to hire/fire and they lack any real authority. It was nice to not have to deal with a manager every day, but this became something of a problem after things began to slow down (more to follow later in the review).

    I actually enjoyed my job at first. I learned a lot about the mortgage industry and my co-workers were smart and hard-working and we all kind of bought into the system at first. Our branch was routinely ranked among the best in the company and it felt good to be a part of something like that. I’m not going to lie and tell you that the work is challenging or that you need a college degree to do this job—it isn’t and you don’t. As a “closer” your job primarily consists of checking loan documents for date corrections and inconsistent signatures, putting the loan documents in a specific order, and then preparing the loan documents for shipping to the corporate office. That’s really all there is to it: scrutinizing signatures, stacking pieces of paper, and putting these well-ordered stacks into shipping envelopes. Provident Funding provides rubber fingers so that you can flip through the loan pages faster. I confess that on my best days I became one with that rubber finger and would often leave work with it still on my index finger. It wasn’t fulfilling work, but there was so much of it that you could just zone out, put your rubber finger on, and disappear for eight hours. I did this every day for like six months. It was the highlight of my career with Provident Funding.

    Things started to go downhill when interest rates ticked up and the refinance market slowed to a trickle. Our branch went from funding something like 15-20 loans every day to 3-5 on a good day. While our competitors began laying people off and shutting down entire operations, Provident Funding stuck to their (bizarre) policy of no layoffs. This leads us to paradoxical element #2: Provident Funding claims to champion efficiency above all else, but they refuse to lay off workers who are no longer needed. What this meant for people like me is that there was often very little work to be done. Sometimes there was no work at all.

    Now that I am no longer with the company, I will admit that for a 5-6 month stretch, I came to work every day and did absolutely nothing. That is not hyperbole; I literally did no work. And I wasn’t avoiding work or shirking, either—I had no assignment whatsoever. I just got lost in the shuffle. When the loans stopped coming in, I was reassigned to a random project and nobody ever asked me to do anything for it. Every day I would sit down in my chair and browse one of the five sites allowed by our firewall until it was time to go home.

    You may think: “Hey man, you got paid to do nothing. That’s the ultimate luxury! You are so lucky!!” Wrong. Getting paid to do nothing for a week is amazing. Getting paid to do nothing for six months is different. It looks like this—waking up, putting on dress clothes, and looking at yourself in the mirror knowing that the dress clothes are just a façade because you really do nothing, you really are NOTHING; realizing that you are not developing any transferable skills, that you aren’t going anywhere, that you are stuck; feeling scared that you will get in trouble for not doing anything even though you didn’t ask to do nothing in the first place; encountering difficulties while interviewing for other jobs because when they ask you what you do, you can’t tell them that you really don’t do anything.

    This is when maybe it would have been nice to have a manager around to stop this from happening. Then again, at this company…

    So that’s what getting paid to do nothing for six months feels like. I would call this stretch the lowest point of my life on Earth. I just felt empty inside. I was hopeless. I could no longer talk to anyone about work because the reality of the situation was too painful to come to terms with and I didn’t see any way out of my predicament. I started smoking again.

    I ask you this: if a company really values efficiency, how can they possibly let something like this happen? It’s not like I couldn’t have been used elsewhere. For instance, this company is notoriously cheap with their advertising and the flyers that department circulated were the frequent punch lines of office jokes. They were just awful—zombies chasing people over cliffs because our rates “are so low that they’re scary!”—that kind of thing. I’d like to think that I might have been able to contribute something better to the marketing department, but I was never given the opportunity to do so. I was never really given any opportunities to succeed at all.

    What happens during a slowdown is that the middle managers panic because they are still being held to production standards that are impossible to meet under current market conditions. They start moving people around and start vague “new projects”, all of which are pitched to the employees as “new opportunities to demonstrate their ability and make a name for themselves”. They do all of this shifting around of resources because it creates the illusion of activity, a kind of occupational blur.

    I was shocked to discover one of the motives for restructuring: a metric called “average regional production.” Average regional production is exactly what it sounds like—a metric that shows how productive the average employee for a given region is based on the work performed by all employees in that region. Oddly enough, this calculation did not include people who did no production work (e.g underwriting, closing) during a given time frame. Since these zeroes were dropped from the calculation, the resultant average went up. Because of how this metric was calculated, managers in my region began giving what little work remained to only one or two people in my branch…simply so that the number for average production went up! I’m not making this up. Try to wrap your head around that for a second (paradoxical element #3): a made-up, meaningless efficiency metric with a rather obvious methodological flaw becoming so important that the behavior it creates is actually INEFFICIENT. It was not uncommon to see one person stuck funding five loans while three other people sat around and surfed the web for the entire day. One day when that same person was out, our branch captain actually mailed the loan package to a branch in ANOTHER STATE so that the person there could get the production points that go into the calculation. Efficiency, everyone.

    What else?

    There was a rule that we couldn’t listen to our own music with headphones, so we were forced to listen to an office radio. On that radio we were allowed to listen to anything we wanted except for one, and only one, thing: sports talk radio. I’m dead serious…upper management actually came together and singled out sports talk radio as some kind of malevolent efficiency-reducing force, so it was banished from every branch. I can’t stop laughing as I type this because I recall vividly the day we were told, in a very serious voice, that we could no longer listen to sports talk radio. Words cannot express how happy I am that I no longer work for a company where something so trivial could even be considered a priority.

    If you are even five minutes late to work, be prepared to use your PTO. They will not allow you to make-up time at lunch or after your normal hours, even if you were late for a reason beyond your control. I was ten minutes late to work one day (I’ve only been late twice) because someone attempted suicide on the subway and the entire car shut down for an extended period of time. When I got to work (feeling terrible and shell-shocked, by the way), I was informed that I would have to forfeit 10 minutes of my PTO for being late. I get it—time is money. But do they really have to be so trifling and heartless about ten minutes that could have been easily made up in any number of ways?

    I can tell you that seemingly insignificant policy decisions like this DO matter and do affect whether or not someone wants to continue working for a company. It’s not that any one of them is a deal-breaker so much as it is the cumulative effect of being treated badly for no good reason. It just seems so petty.

    There is basically no way to advance your career here. One of my managers referred to the company’s policy as “diagonal advancement” (not vertical advancement). In the most humiliating, patronizing speech I have ever been forced to endure, he informed me that I would probably never get a promotion or more responsibility, but that if I worked there long enough, I would get more money. This wasn’t because I screwed up, but simply because there are so few opportunities available.

    The acting managers fit the right place/right time stereotype to a T, and they are young enough that you know they aren’t going anywhere anytime soon. The highest positions are held by family members and a tight inner circle. If you really want to get ahead at this company (I wouldn’t recommend it), then your best bet is to befriend someone in this inner sanctum, but it’s difficult to do that if you don’t work at Corporate HQ, Pittsburgh, or Boston.

    As I stated earlier, I had a lot of downtime (at work) to analyze this stuff, so I think I have a pretty good grasp of what’s going on. What’s happening is that Provident Funding does not particularly care if their employees stay or go. It’s not that they don’t understand what would make their employees happy—stuff like an employer match for the 401k, better benefits, a corporate hierarchy that offered some room for advancement, etc.—it’s just that they made a shrewd business move not to do any of these things. I don’t think employee turnover is a huge concern for them because they’ve invested so much money in their (admittedly very good) technology that they can pretty much plug in anyone to do the work. Retaining talent is not a priority because the job has been simplified to the point that anyone can do it. And those that do remain…they either can’t find work anywhere else or they don’t mind the sparse compensation package and limited advancement opportunities (people affectionately referred to as “Lifers”). No harm, no foul. And you know what—maybe that works for them. But I think what this amounts to is a complete devaluation of what an employee can contribute to a company. Especially young, smart college grads who want to make their mark on a company and get ahead. I think this is their loss.

    I’ll leave the assessment of that specific business strategy to someone else, but I will tell you what effect it is having down in the Provident Funding trenches: universally low morale. At one point, there were seven people working for our branch, six of whom were actively seeking new employment elsewhere. I know this because we all helped each other look for new jobs; we polished each other’s resumes, we sent each other links to job openings, we passed along recommendations we heard from friends and family. It felt a little like a prison culture: down-on-their-luck, oppressed people working together to escape captivity.
    Think about that for a second: how many companies do you think there are out there where 6/7 of the employees are looking for new jobs? It’s kind of incredible.

    This place should be used as a case study for how not to run a business.

    Advice to ManagementAdvice

    Keep cashing them checks, homie.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5. 3 people found this helpful

    Horrible Place

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Stuff Accountant in Burlingame, CA
    Current Employee - Stuff Accountant in Burlingame, CA

    I have been working at Provident Funding

    Pros

    I'm not sure there are any pros. I would recommend staying there the shortest time possible and then jumping ship.

    Cons

    Hostile work environment, low salaries, low advancement opportunities, women get paid much less than men, a very depressing place to work

    Advice to ManagementAdvice

    Change culture, offer sick days, increase advancement opportunities to all sexes, create a more pleasant office culture.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  6. 2 people found this helpful

    A stepping stone and not much more.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Provident Funding

    Pros

    · Job security & salary: The company is a well-oiled machine and prides itself on neither firing nor laying off employees, regardless of performance or market conditions. Good pay for entry-level positions with generous annual raises and year-end bonuses.

    · Friendly & young colleagues: Provident hires recent college graduates for most entry-level positions.

    · Resume builder: If you go out of your way to take on extra work, you can develop a skill set that will allow you to exit Provident with favorable prospects.

    Cons

    · Poor benefits: No 401k matching, PTO accrual is slow and must be used for any type of time off (with the exception of bereavement & holidays, etc.), working on the eves of major holidays is common.

    · Inexperienced management: A lot of pointless meetings, conference calls, and silly initiatives that are never seen through to completion. Organizational decisions aren't made based on data or strategic thinking but rather because they're passed down the chain of command (i.e., a member of executive management's family). Excessive micromanaging across the board because middle managers don't have anything else to do since the markets have slowed down.

    · Culture & morale: The paychecks and job security are the two main reasons employees stay. After a year or two, most people realize that professional development simply isn't a priority at this company.

    · Mind-numbing & repetitive work: If you are the analytical type and looking for quantitative/technical work, you will be very bored.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  7. 2 people found this helpful

    Experience of a Provident Funding Closer/Funder

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Mortgage Closer
    Former Employee - Mortgage Closer

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

    Pros

    It was my first experience in the corporate world. I learned first-hand the inefficiencies of the corporate hierarchy. The company forces all parties in the mortgage process to bend to their strict guidelines. This reputation is well known amongst closing agents and brokers alike. Expect opposition from all parties should you become an employee here. I did learn how to mediate angry closing agents and quickly memorized the line “I know we do things differently than other lenders”.

    Working for Provident also taught me to endure hardship and maintain professional relationships despite personal views. I did create life-long friendships with those who suffered alongside me in the Provident trenches. I salute you brother in arms, the war has been won.

    Cons

    ENVIRONMENT/PHILOSOPHY
    The branches are small so it really is luck of the draw who you end up working with. You realize quickly there are two types of people, the lifers and those that took the job because of the economy and the need to payoff student debt. I was lucky to join a branch with some great people but while I was there 5 people left the branch in less than a year and a half. I was the sixth. The company has an extremely high turnover rate but don’t seem to care because the system continues to MOVE FORWARD. At the same time, I can’t fault upper management. They got into the company at the right time and solidified their positions. There is no room for advancement unless your aspiration is to underwrite mortgage loans. You will be told to accept “diagonal advancement” which entails no change in position with minimally higher pay. You do have to royally screw up to not get the 10% raise every year unless upper management has a grudge against you (which happens!). Complete gap between day to day operations within branches and upper management. Headphones were taken away to “increase communication” within the branch even though all communication is done through the company messaging system (even cubicle to cubicle). Get used to “anti-logic”.

    WORK
    You do not need a college degree to do this job. They recruit college grads that need to pay off debt with promises of extensive training, which includes two weeks in California at the corporate office (I did have an awesome time in San Francisco though, so thanks for that). As a closer/funder every aspect of the position is reviewed. Expect to have arguments about signatures and whether or not dates look like they are completed correctly. Be prepared to discuss if an 8 is “loopy enough” (actual terminology).

    The term “buyback” is used as a scare tactic to ensure all documents are perfectly completed, which only increases when volume slows. They do not tell you, however, your work as a closer has no bearing on whether or not a loan will be “bought back” in the secondary market. Any issues worthy of a “buy back” occurs in underwriting (mysterious magical processes most never have the pleasure of learning). As a closer you get really good at stacking pieces of paper in a certain order, scanning said papers, and printing shipping labels. Other than that, don’t expect to learn any transferrable skills outside of the mortgage industry.

    Advice to ManagementAdvice

    Sadly, none

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8. It was time to go

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Loan Processor in Santa Rosa, CA
    Former Employee - Loan Processor in Santa Rosa, CA

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

    Pros

    Good pay, good raises, good bonuses. What I admired about working with Provident was that for a mortgage company they did not let people go during the slow times. They pride themselves on not laying people off when things get slow and they stick to it. The job security was great. I'll always appreciate my time at Provident.

    Cons

    The culture was very positive when I started. Interest rates were low and Provident was hiring a lot of young people my age. I met some of my closest friends working at Provident. I was later moved to Colorado Federal Savings Bank (a new division at Provident) when the interest rates rose and that's where things went South… and fast. There was no structure, no plan, no training, no tools. We were thrown into an ocean without a raft. I appreciated Provident Fundings training program and moving to CFSB, there was none to speak of. My confidence was shot and things were slow… and I mean slowwwwww. I had to leave for my career and professional development. It was a hard decision considering I worked with some of my best friends, was only 8 minutes from work, and was paid well, but I was going nowhere fast.

    Advice to ManagementAdvice

    Be more organized and train your people.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  9. review

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Provident Funding (more than 5 years)

    Pros

    my boss treat me very well

    Cons

    the work is very intense

  10. credit analyst

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Credit Analyst
    Former Employee - Credit Analyst

    I worked at Provident Funding full-time

    Pros

    The interview is fairly easy. The company offers high pay, which is good for new grad. They have decent PTO and provide good training.

    Cons

    Managers are rude. Co-workers are quiet and focus on their own work. The company raises the salary very year, but promotion is very unlikely. They don't match 401K.

  11. Top Private Mortgage Lender.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Mortgage Underwriter and Closer in San Bruno, CA
    Current Employee - Mortgage Underwriter and Closer in San Bruno, CA

    I have been working at Provident Funding full-time (more than 5 years)

    Pros

    Great company with exceptional mortgage lending standards. CEO is on top of his game and the business model is the best in the mortgage industry. Highly energized working environment which demands pursuit of excellence.

    Cons

    Lack of upward mobility. There is an inherent fear of demotion or dismissal from management down. There is no clear path to promotion, it seems the more willing you are to do overtime or work weekends, the better your chance to move ahead.

    Advice to ManagementAdvice

    Management sometimes gets too consumed with numerical production & efficiency. Company could use better, friendly environment without inherent fear of being demoted or fired.

    Recommends
    Positive Outlook
    Approves of CEO

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