Provident Funding Reviews | Glassdoor

Provident Funding Reviews

Updated July 14, 2017
17 reviews

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4.0
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Craig Pica
4 Ratings

17 Employee Reviews

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Pros
  • Entry level salaries are respectable (in 15 reviews)

  • The best reason to work at Provident Funding is the job security (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. "Great Entry Level Position"

    StarStarStarStarStar
    • 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

    Pros

    Great pay and willing to hire college students with little experience

    Cons

    There is not much room for growth.


  2. "Underwriter"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Underwriter in Pittsburgh, PA
    Former Employee - Underwriter in Pittsburgh, PA
    Doesn't Recommend
    Positive Outlook

    I worked at Provident Funding (More than 5 years)

    Pros

    Gain skills needed in order to break into the industry. Can make overtime and cross train into other positions; increasing your knowledge base and skill set

    Cons

    Not much room for upward mobility

  3. "Not to bad as your first job out of college"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Provident Funding full-time

    Pros

    Great place to learn and get experience if you just graduated and started your hurts office job.

    Cons

    Low pay and basic benefits package.


  4. "Closer"

    StarStarStarStarStar
    • 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

    Pros

    Hourly so got paid overtime

    Cons

    Limited upward mobility and low pay


  5. Helpful (2)

    "Five Years with an Ethical, Growing Employer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Mortgage Consultant in Chicago, IL
    Current Employee - Mortgage Consultant in Chicago, IL
    Recommends
    Positive Outlook

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

    Pros

    Directly out of college, I genuinely lucked out in finding an employer within my preferred field firmly committed to ethics (rare) during an unprecedented time for the industry and a period of aggressive growth for the business. This allowed me to receive accelerated, diverse exposure of the company as well as the industry and positioned me for future success.

    To provide some chronological guidance, the application/interviewing process is fluid, not rigid, with the goal being to find passion, past achievement, attention to detail and an entrepreneurial spirit. Once welcomed to the team, the training material can be dull and overwhelming, though that is expected in a mature, ever-changing and bureaucratic industry. Once on the job, your industry understanding will develop rapidly through repetition and on-site support. Even once the material is "mastered", constant change within the industry, the personalities of those you interact with and an individual's commitment to continuous self and company improvement will keep you challenged. As you grow with the firm, your effort, ethics, intelligence and initiative will be rewarded via increased responsibilities and monetary incentives.

    No matter the position, Provident employees will quickly and continuously receive broad exposure to a variety of services within the real estate industry (customers, coworkers, third party brokers, real estate agents, title companies, county/state governments, auditors, investors, etc.) positioning oneself for future success by increasing options if the position they find with Provident is not desirable. Fortunately, the company is open to a dedicated, proven employee's request for positional change, so that future success absolutely can be found within (nationwide, locational change can also be made available). The company's culture is defined by its commitment to ethics and prompt customer service, while the office culture varies from office to office, and division to division. Of course you are encouraged to show your personality and brighten up the office environment as well as the occasional decentralized, web-based meeting, ultimately developing lifelong relationships with your coworkers.

    Coming from someone who has interviewed, trained and managed many employees and personally worked on both the origination and servicing sides of the business in ~5-7 offices nationwide, I have been exposed to executive management's commitment to changing the mortgage industry time and time again. Our reason for being in business extends beyond profit to minimizing mortgage default via hands-on hiring, conservative, disciplined underwriting guidelines as well as proprietary technology (designed to automate regulation compliance and build scalability) built and improved upon by the initiative of employees. This stance allows the company to offer the best price and service to the "best" customers and all employees play an integral part in achieving this.

    Cons

    The initial training can be dull, as explained, but I am confident of Provident's commitment to continually improve upon its thorough foundation. The company's benefits leave something to be desired but may be up to par with the industry - specifically a slow accrual of paid-time off, no sick days and no guaranteed 401k match. Even so, Provident's progressive base pay and commission/bonuses exceed expectations and continuously reward the type of employee explained above, fostering a meritocratic culture. The only other knock that I can honestly share is regarding the career progression, which is not structured - but again this differs from division to division and is being improved upon.

    Advice to Management

    I suggest further branding our commitment to eliminating default which should increase employee and customer pride and word-of-mouth referrals. I also advise that each division develop a more structured, overlapping employment progression to foster long-term commitment from current and future employees. I also hope for improved benefits (retirement, health insurance and sick time/PTO) to again foster long-term employment and employee satisfaction, while ensuring the best of the best are recruited to become our business partners in the first place.


  6. Helpful (1)

    "Career Starter"

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

    I worked at Provident Funding full-time

    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. "Employment"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    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.

  8. "review"

    StarStarStarStarStar
    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


  9. "Top Private Mortgage Lender."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Mortgage Underwriter and Closer in San Bruno, CA
    Current Employee - Mortgage Underwriter and Closer in San Bruno, CA
    Recommends
    Positive Outlook
    Approves of CEO

    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 Management

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


  10. "it was a good exerience"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    people are nice and easy to work with

    Cons

    hard to advance in position

    Advice to Management

    get to know your employee better


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