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Provident Funding Reviews

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Craig Pica
15 Ratings

34 Employee Reviews

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Pros
  • The pay was good for entry level work (in 15 reviews)

  • There's great job security here which is hard to come by in this industry (in 6 reviews)

Cons
  • Managers will micro manage you, there really isn't any room for advancement, middle managers lack people skills, you will be treated like a robot (in 5 reviews)

  • As others indicated, no matching 401K or sick days (in 7 reviews)

More Pros and Cons

  1. Helpful (2)

    "Mortgage Closer"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Provident Funding full-time

    Pros

    Easy job out of college.

    Cons

    Company tends to over promise and under deliver.

    Advice to Management

    Provide more transparency during the hiring process.


  2. Helpful (5)

    "Dysfunctional Company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Good entry level job, good annual raises. Decent entry level job if you have no other options. But the job itself blows. The senior managers are liars snd awful people yet have the CEOs full support so are untouchable. So, middle managers try to emulate them as matching their a-holeness. While this is hard to do, they give it a good shot. Don't work here if you want to ever be treated with any respect. You won't be. If they feel the company needs you elsewhere, they'll move you whether you want a complete job change or not. If you're an underwriter, they'll make you make collection calls over night and tell you that you have a terrible attitude if you don't get excited about your move. The CEO recently loosened up his guidelines considerably. Either he's been totally wrong in his thought process since 1991 or he's selling. Since he never thinks he's wrong, I think he's selling soon. Managers at this company would have difficulty transitioning to other companies so they better hope he decides not to sell. Would not recommend anyone to work here unless desperate.

    Cons

    No upward mobility opportunities, terrible benefits, treated with complete disrespect from middle management, CEO nowhere to be found and will probably sell company soon. You'll have to answer to awful people if you're employed there. The people in charge would be an HR nightmare at a normal corporation. But since the owners wife and COO runs HR, weirdly there are very few complaints.

    Advice to Management

    They don't care about anyone else's opinions on any level so won't waste the abundant advice I have for them


  3. Helpful (3)

    "Depressed Workforce, Retail Sadness"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Pipeline Analyst
    Former Employee - Pipeline Analyst
    Negative Outlook
    Disapproves of CEO

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

    Pros

    It's a small paycheck with exposure to the industry, but certainly not nearly enough to deal with the utterly lost management.

    Cons

    I worked with Provident's Retail division. I was hired as a part of their Associate program. We were all young college kids promised a fulfilling career, ripe with opportunity. Instead our group was quickly shoveled into customer service calls with the Servicing department or sentenced to years of customer-facing roles which they referred to as Production Support or Pipeline Analyst. Horrible.

    Provident's Retail division was utterly depressing. The team is led by, I guess you could call the guy, a "manager" who is completely out of touch with reality, intent on treating intelligent people like robots, and yelling at anyone who disagrees with him. Great leadership here, folks.

    Advice to Management

    Like you even care?


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  5. Helpful (3)

    "Poor culture and dissatisfied workforce stems from mismanagement at the top"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in San Bruno, CA
    Current Employee - Anonymous Employee in San Bruno, CA
    Doesn't Recommend
    Neutral Outlook

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

    Pros

    Probably overpaid for the nature of the work. Likely won't be laid off unless poor performance can be thoroughly substantiated because upper management is afraid of potential wrongful termination litigation, though they say it is "part of the culture" to retain staff.

    Cons

    The CEO, as intelligent and knowledgeable of the mortgage industry as he may be, is extremely detached from the operations and employees within branches that generate his profits. A short anonymous survey of his employees would convey just how dissatisfied some people are and why, but this would require an effort on his or his wife's (COO) part to understand the true culture fostered. In short, he is either ignorant by accident or on purpose, neither of which characterize a respectable CEO.

    As is emphasized in several other posts, the level of nepotism is unapologetically laughable. Unfortunately subjective interpretation of performance has become a running joke within the company.

    Management makes an effort to provide the illusion of culture over culture itself. The true in-office camaraderie comes from bonding over feelings toward management. Unfortunately those who could change this sentiment either don't understand or don't care.

    There are several other areas to cover, but hopefully this gets the point across to anyone who has another opportunity for employment.

    Advice to Management

    Sell the company so an effective executive management team can run it well.


  6. Helpful (4)

    "Underwriter"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Underwriter in Minneapolis, MN
    Former Employee - Underwriter in Minneapolis, MN
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    People you work with are young college graduates.
    The pay was good for entry level work.
    Based on performance you may receive a bonus.
    They provide good training for each position in the company.

    Cons

    The work is very monotonous.
    Nepotism is very apparent in management positions.
    Very little advancement opportunities (unless related to owners family).
    Benefits are non existent.
    Based on your position you will feel like a cog in the machine.
    All of your activity is micro managed.
    The work is very unfulfilling.
    Very little flexibility with your time (in chair by 8 leave at 5)

    Advice to Management

    Offer advancement opportunities bases on merit.
    Offer benefits such as 401k, sick pay, etc - these help keep people working for you.
    Allow flexibility with your employees time.


  7. Helpful (4)

    "Decent pay for recent grads, but horrible culture and minimal career opportunities"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Credit Analyst
    Former Employee - Credit Analyst
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    - Readily hires recent graduates with minimal industry experience
    - Entry level salaries are respectable
    - Free Folgers (but this is really a con when you taste it)
    - Discounts on mortgages (but this won't apply for 99% of the applicants as the mortgage qualifications are incredibly strict and not geared towards first time homeowners)

    Cons

    - Extreme nepotism: Provident Funding is family owned and run by the extended family. I was around long enough to experience several managerial changes and it was clear familial relations were much more important than qualifications.
    - Company culture: Expect to be treated as an expendable worker. There is little to no camaraderie, basically no perks and a general understanding that good pay is more important than an exciting, friendly workplace. All non-work websites are restricted and no social events are organized. You will receive a $10 per diem for food around the holiday season but only if your team performs up to standard. The management will then tell you how special you are to get this per diem, basically making you think they treat you so extraordinarily well. This couldn't be further from the truth.
    - Constant job security threats: You are required to go through testing once you begin as an employee with the threat of termination should you do poorly on the tests. From the get go you get the feeling that you are expendable and not welcomed in with open arms. Once you are internally "certified" from passing the company tests, your work is monitored and should you make any mistake, a blemish is added to your company record. Problem is, mistakes are not rare in this industry and they know this.

    Advice to Management

    - Make your employees feel like they are more than just 9-5 robots. ANY perks would be nice.
    - End your false promises about the bountiful promotion opportunities. This dishonesty is so blatant.
    - Look outside of the extended family for promotions. Your executive team and regional leads are all family members or college friends. This cannot continue for a healthy company who tries to promote from within.


  8. Helpful (4)

    "Terrible"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Working with a group of people who are your same age, experience level. Take the reviews seriously. There is a reason they give 10% raises each year, because very very few people last longer than 1 year at this company.

    Cons

    Everything else: pay, benefits, the type of work, the flat structure, etc.

    Advice to Management

    Advance people based on qualifications, rather than whether they share your same last name.


  9. Helpful (5)

    "Dead End Job"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous
    Former Employee - Anonymous
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    You have Saturday and Sunday off.

    Cons

    Gave it one start because zero is not an option. There are very few loans being submitted, so the job has become nothing more than a call center worthy of India. The "Servicing Analyst" (AKA Customer Service) manager monitors your every move on the phone to make sure you take call after call after call all day. The expectation is that you take 80 calls a day. The majority of employees that were Underwriters or Funders have been demoted to Customer Service, unless of course you're a relative, a friend, or dating one. That's how you get promoted. In an office of 24, the office dwindled down to 9 employees. Everyone resigned, and the ones left are looking for a job. Now, if you read positive reviews, be wary of them as it is believed that "Provident Funding and Friends" are posting their own to increase their ratings and also to attract new naive graduates to do the mundane work. There is discrimination when it somes to religion, as an employee was denied time off for religious reasons to travel to Israel. The "Witnesses" can work part-time and work 3 days a week so they can attend/teach bible studies and knock on doors. Managers have been demoted for taking maternity/paternity leave.

    Advice to Management

    I won't waste my time giving management advice because they don't care or are afraid of the owner's wife. The owner's wife is a micromanager that is overbearing and has ultimate say.The underling managers dare not undermine her. If you question her she will try to intimidate you into submission. In a company meeting she refered to brokers as "riff-raff". If she refers to the people that bring her business this way, how do you expect her to refer to her employees.


  10. Helpful (4)

    "# Unethical Company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Provident Funding full-time

    Pros

    Can't think of any Pros aside from the days off or when I quit just like many of my peers have done.

    Cons

    So many...

    - Company claims to be ethical yet when a mistake is made the managers tell you to put blame on the other party. An example is when I was funding, I informed management I had made a mistake and I was told to not admit to it and to find a way to put blame on the escrow officer. Other times we've been told by senior management to try and put blame on the other party(s) i.e broker or escrow . How ethical is that?

    - Lack of respect for their customers and employees. So much micro managing and Provident funding's way or the highway.

    -Demotions are prevalent even if you have many years of say underwriting experience or you take maternity or paternity leave. I've seen quite a few managers being demoted for this. The only way you won't get demoted is if you are a family member, dating one, or a friend.

    -Managers are constantly talking down to employees, per one of the managers it's coming from the top meaning the CEO and or COO.

    -Not a profession, simply a paycheck. Be careful college grads. Don't be deceived... I've seen so many positive reviews lately that it's quite shocking. I can't think of 1 person in the company who would post a positive review aside from the owners or their cronies and I know a lot including top management. Just look at one of the positive reviews here, not 1 con listed, WHAT A JOKE!!!

    -Sick days are part of your PTO. No 401k Limited holidays.

    -Place is toxic.

    - Just like the other reviewer said, the COO referred to brokers as "Riff-Raff", so we can only imagine what she refers to the employees.

    Advice to Management

    HAHAH is this a joke... They don't listen, their way or the highway.


  11. Helpful (1)

    "A two star company at best."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Generally speaking, the majority of offices are young, so that makes for a good office environment.

    Cons

    Upper management seems to be far removed from the needs of its employees, which is why the turnover rate is so high. Beyond that, the company is pushing for servicing, meaning it's only hiring for individuals to take calls from angry customers (unfortunately, customers don't call to tell you what a great job PF is doing). There's not much support for these positions from middle or upper management, so the job is ten times harder than it should be. This would be fine if there is room to grow, but as others have mentioned there is absolutely zero room for growth (unless managers quit...which may not be an issue since the company is losing employees left and right). Most individuals only work here for a year or two before leaving to pursue higher education or another job...no one stays beyond that much except for the 'lifers.'

    As others indicated, no matching 401K or sick days. If you want to take time off, you need to do so 2 weeks in advance, which is difficult to do for a doctor's appointment, etc.

    Unless you're a family friend, seek employment elsewhere. The lack of benefits and opportunity for growth really make taking calls and being cursed at by customers for eight hours a day not worth it at all.

    Advice to Management

    Individuals leave managers, not companies. The turnover rate today is too high for you to continue to treat your employees the way you have been. Offer better benefits and opportunities for growth. Offer training to middle management (because, trust me, they need it)



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