Do you have a mortgage with Provident Funding?

[c8k6k]

We're in the middle of refinancing our mortgage, and I'm getting bad vibes about the new lender Provident Funding. If your mortgage is with Provident Funding, what has your experience been like?

We currently have a 30 yr mortgage at 6% with BOA. We're 7 years into the loan. After comparing several refinance offers, we went with a mortgage broker who was offering a Provident Funding mortgage at 4.75 for 20 years. Closing costs with appraisal fee were 2,475. The broker sent us a good faith estimate (GFE). A few days later, Provident Funding sent us a totally different GFE. It was about $1,500 higher, the difference being primarily around origination fees. The broker explained it was a mistake. To save the deal, he dropped the rate to 4.625, shaved a few dollars off closing costs (now $2,407) and sent us a new GFE. Last night, we received another GFE from Provident Funding. This one was ALSO wrong, over $2,400 higher than what the broker sent, the difference again being primarily around origination fees. I'm left wondering why we want to do business with a company that can't get its act straight sending out an accurate GFE.

 

[DisneyIT]

I had a mortgage with Provident for 7 years. I would rate Provident a grade of C to C-.

Once the loan is in place, they seem to be about the same as any other average lender. The only exception I have is with escrow.

We have our taxes and insurance escrowed, and they seem to never be able to correctly calculate the amounts. I expect my payment to change once a year with tax and insurance because taxes and insurance renew yearly in the same month. For 5 of the 7 years they either have overcharged or undercharged escrow and my payment changes about every 5-6 months. A little annoying for budgeting purposes. If the changes originate from their end, I just get a statement telling me my new mortgage payment. However, if I shop around and get a lower insurance for example, they will tell me, "We need to charge you $$$ for an escrow evaluation that does not fall within the anniversary month of your loan."

I tolerate this poor service because I have a fantastic rate, but if rates ever drop I would not hesitate to leave them.

 

[ressor]

I had a mortgage with Provident for SEVEN Years, every year my insurance company sent me cancelation notices because provident didn't send them payment.

I have excellent credit and verified income and tried to do a simple refi, Provident jerked me around for a month, made me pay for an appraisal that came in 200K under an appraisal done just 4 months earlier then denied my REFI saying I was underwater. I appealed they denied and i went to Wyndom Capital who refi'd my home for less than the scumbags at provident and now my mortgage is $800 less per month!!!!!

Had it not been for the scumbags at Provident I would have never found such a great refi deal!

 

[wendow]

Wow, we have Provident and we've not had any issues at all. We got them through a refi about 2 years ago. I'll be watching things a little closer now thanks to this thread.