Provident Funding - Great Start, don't stick around | Glassdoor
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There are newer employer reviews for Provident Funding

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Helpful (1)

"Great Start, don't stick around"

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  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Mortgage Servicing Representative in Los Angeles, CA
Former Employee - Mortgage Servicing Representative in Los Angeles, CA
Doesn't Recommend
Positive Outlook

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

Pros

they hire a LOT of recent grads- cool people and decent salary for what you do

Cons

you will repeat yourself all day long answering 90+ phone calls a day, everyday

Advice to Management

more pay and clear promotion tracks would decrease turnover

Other Employee Reviews for Provident Funding

  1. "Only Work at Corporate!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Burlingame, CA
    Former Employee - Anonymous Employee in Burlingame, CA

    Pros

    I started as a college grad like people in all the reviews, but I was luck to work in corporate instead of being in a branch or servicing department. Pros about the company is don't need to worry about company going down. I was paid very well (average 20% paid raise every year.) Don't need to work a lot of OT, don't need to travel. You will move up fast if you have a special analytical skill or know when to say what.

    Cons

    Normal channel will not get people to move up the corporate ladder. Only 3% of the emplooyee working in a branch or servicing department get promoted. Need to ask for annual review else no pay raise. Bad employee benefits.

    Advice to Management

    Some special bonus or benefits to employees would retain more people in this refi boom.


  2. Helpful (7)

    "BEWARE -- Working at McDonalds may provide more satisfaction than here."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Mortgage Underwriter and Closer in Tampa, FL
    Current Employee - Mortgage Underwriter and Closer in Tampa, FL
    Doesn't Recommend

    Pros

    This job is one that pays -- if you have student loans and are absolutely desperate...although I highly caution you to look else ware beforehand.

    Cons

    Provident Funding Associates L.P. is split into two large divisions: Retail and Wholesale.

    Retail Department consists of Servicing, Correspondent Lending, Secondary Market, Customer Retention whereas Wholesale Department is solely Underwriting and Funding for 3rd Party Brokers.

    If you come from a Top 25 University I strongly urge you to look elsewhere...you may be fooled by the job description initially (ie. Mortgage Consultant, Servicing Analyst, Servicing Specialist, IT Analyst, or any other buzzwords). Here's the scoop -- if you work in the Retail department...you start off as a Customer Support Specialist. Imagine being heavily micromanaged and taking over 90+ calls in one day to be considered "on par." If you work for Wholesale department...you will be crosstrained as an Underwriter and Funder (eventually) and expect to take 50+ calls while working from brokers who demand to have their loans processed.

    Company morale is at an all time low, the average age group is 21-30. The reason being is that the compensation and benefits are laughable at best. The people who stay are usually unmotivated and have nowhere else to go.

    Management is ridiculous -- I highly doubt they even train their employees on management. Imagine a kid watching Boiler Room or any other typical Wall Street movie -- now s/he is your boss!

    Compensation is as follows:

    $20.19/hour (was much lower when I started), $41,995.00 Annual first year (provided that you work the standard 40 hours)
    4 Paid Holidays per year -- expect to work Christmas Eve folks!
    12 PTO (Paid Time Off -- consider this your vacation/sick days) -- accrued 8 hours per month.

    Enjoy and good luck! Don't say I didn't warn you.

    Advice to Management

    You are not fit to manage.

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

See Most Recent

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