Provident Funding Reviews | Glassdoor

Provident Funding Reviews

Updated August 25, 2017
128 reviews

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128 Employee Reviews

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

  • You can really learn the technical side of the mortgage industry inside and out (in 11 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)

    "Ok for Recent Grads"

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

    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.


  2. 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.

  3. Helpful (4)

    "# Unethical Company"

    StarStarStarStarStar
    • 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.


  4. Helpful (5)

    "Dead End Job"

    StarStarStarStarStar
    • 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.


  5. Helpful (1)

    "A two star company at best."

    StarStarStarStarStar
    • 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)


  6. "Place to start only"

    StarStarStarStarStar
    • 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
    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.


  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. Helpful (1)

    "Great for entry level, but nothing more"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    No opinion of CEO

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

    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.


  9. Helpful (2)

    "Branch Lead"

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

    I worked at Provident Funding full-time

    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.


  10. "My experience"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

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

    Cons

    No flexibility with work schedule. Advancement opportunities rare.


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