Provident is a wholesale lender who engages in shady practices by not honoring lock agreements, changing commissions, changing interest rates, as well as other unethical business practices.
-underwriters all quit with in 2 month period
-had ONE underwriter to service all of Houston
-had one underwriter doing administrative duties during busy time of month instead of underwriting files, causing delays in closing
-had problems with title company fundings and did not inform the broker, resulting in the "bust" of interest rate locks. Provident would then not honor the closing, require new docs to be signed at a higher interest rate
-sent Houston underwriter to help in Dallas overload leaving Houston short handed.in turn, would not send underwriter to Houston to help with behind files
-closer quit 6 months ago and never replaced the closer/50% man power shortage
-Administrative file audits at end of month-busiest time of month. Underwriting came to a stand still
-refuses to provide a color printer for underwriting staff to print off appraisals
-senior management does not respond to e-mails/calls-Shawn Poe quit due to the misgivings of the compaany
Https://providentfunding.com/
If a mortgage broker do not fall prey to the great pricing-does not matter how great the pricing is-if they can't close a loan then not only do you not make the money, it is a direct reflection on your business. Provident is negative barand equity!!!
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