Provident Funding Reviews

Updated June 30, 2015
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2.6
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Craig Pica
32 Ratings

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

  • Good learning experience, good entry level job (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

101 Employee Reviews

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  1. Origination

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Origination in Chicago, IL
    Current Employee - Origination in Chicago, IL

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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    The company is established within the mortgage industry by employing ethical standards - best rate mortgages for best qualified customers. The work environment allows for best and brightest to shine through - hard workers, self-motivators, dedicated to high standards employees will be noticed and leveraged. Executive Management's vision is clear - organized structure, high expectations, and structured advancement.

    Cons

    Retirement benefit may be up to par within industry, but company compensates by rewarding through base pay, pay raises, and commission/bonuses - hard workers and dedicated to company are rewarded.

    Advice to Management

    Continue to set vision clear - organized structure, expectation for high standards


  2. Good company, limited growth.

    Current Employee - Anonymous Employee in San Bruno, CA
    Current Employee - Anonymous Employee in San Bruno, CA

    I have been working at Provident Funding (More than 3 years)

    Recommends
    Negative Outlook
    No opinion of CEO
    Recommends
    Negative Outlook
    No opinion of CEO

    Pros

    -Pays well
    -Good annual raises (as long as you aren't in a commission position)

    Cons

    -Incompetent middle management
    -Limited growth potential (hope a manager quits or you have no shot at management)
    -No 401k match
    -Limited benefits
    -No sick days, all PTO


  3. Ok for Recent Grads

    Former Employee - Loan Reviewer in Anaheim, CA
    Former Employee - Loan Reviewer in Anaheim, CA

    I worked at Provident Funding

    Pros

    I was hired to work as a Loan Reviewer right after earning my Bachelors degree in Business Administration. It gave me the opportunity to get into the mortgage industry without the need for having experience. This is definitely a stepping stone towards greater things.

    Cons

    There is no room for grow. Use this as an opportunity to get your foot in the mortgage banking industry, but then find something better after that, unless you are content with staying where you are.

    No 401K match; no sick leave.


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  5. Take it if you have no other choice.

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

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    - Consistent raises. Anywhere between 10-15% seems to be normal.
    - Job security. No layoffs due to extremely high turnover.

    Cons

    - Laughable benefits. No 401k match, no sick days, expensive health insurance, 12 days of PTO/year, no maternity leave.
    - Nepotism. Most senior managers are related to the CEO. Limited opportunities to advance.
    - No flexibility. If you have to leave a couple of hours early, you need to use your PTO.

    Advice to Management

    - Decentralize the decision-making process, not everything has to be signed off by the CEO/COO.
    - Unless you offer better benefits, you won't be able to retain your employees.


  6. Career Starter

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

    I worked at Provident Funding full-time

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    There is upward movement available up to around middle management. They tend not to let go employees except for gross negligence. They are no-nonsense, and very honest up-front about what you receive. Overall, this is a good place to begin a career, and I value my time here.

    Cons

    Work can be repetitive, kitchen and shared facilities were periodically closed in a punitive manner, there wasn't much team-building, there is healthcare but no 401K match. Performance is not rewarded quickly enough, as reviews are only completed on an annual basis. Also, no sick days means you either work while ill, or use your paid time off.

    Advice to Management

    An LGBTQ inclusion policy is needed to ensure the workplace is welcoming. Instituting a bi annual review process could facilitate greater upward movement by high achieving new employees, and encourage retention.


  7. One of the best run mortgage companies

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

    I have been working at Provident Funding full-time (More than 10 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    I started my career at PF directly out of college, like many of my fellow colleagues. I've had a fantastic career in loan origination with the company. I'm a firm believer that if you put in hard work, and find ways to work smarter and more efficiently than your peers, you will get rewarded nicely here. That's just like any other company. Nothing in life is ever handed to you. You have to earn it! It may not always be immediate, but good employees and talent gets recognized and rewarded appropriately.

    I've read through some of the other employee reviews on this site, posted mostly by former employees, and unfortunately they blame the company for their own short-comings.

    The company is very straightforward and ethical in how it operates with its customers (borrowers/brokers/lenders) and employees. It's managed incredibly well from the top. It's one of the few privately owned companies that survived the mortgage crisis. If you like to roll up your sleeves and work hard, and want to work with an ethical mortgage company, PF is a great place to work.

    Cons

    None at this time .

    Advice to Management

    Keep doing what you've been doing.


  8. Place to start only

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

    I worked at Provident Funding

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Good place for a new graduate.

    Cons

    Not match 401K, no sick leave (They wiped out your PTO).

    Advice to Management

    Listen to your employees.


  9. Employment

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Provident Funding

    Pros

    Great place to start your career. Those who work hard are rewarded. Great learning opportunities. Possibilities for advancement to the corporate headquarters.

    Cons

    Some offices are more busy than others, creating less opportunity for overtime pay if there is not significant work to be done.

    Advice to Management

    Actively solicit areas of improvement from employees. Any organization can improve with the input of all team members. Consider giving exit interviews.


  10. Helpful (1)

    Great for entry level, but nothing more

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

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

    No opinion of CEO
    No opinion of CEO

    Pros

    In-depth training program
    Job security and salary

    Cons

    Rare advancement opportunities. Management levels are appointed to family members (some who are incompetent to perform the job successfully)
    Poor benefits. They do not match 401K does not offer sick leave. If you miss a day of work due to sickness, they take it from your PTO hours.
    Work is high stress with no reward.


  11. Helpful (1)

    Branch Lead

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

    I worked at Provident Funding full-time

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    You have a source of income albeit low with a very slow increase. If you don't really care about career path, which I didn't when I was younger, it's an 8-5 (well 8 to midnight when it's busy) and you earn enough to support your lifestyle.

    Cons

    There is no defined career path unless one wants to stay in the same level and move horizontally, which is dependent on what the needs of the company are at that time. You could be asked to be an underwriter one day, customer relations specialist the next, and then a paper filer for the next week. I was lucky that something opened up, but if that didn't happen, there would be nothing.

    Advice to Management

    Focus on operations and long term change rather than putting out fires that are a result of an inefficient process.



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