Provident Funding

BROKERS DO NOT GO TO Provident Funding Associates L.P. with your clients loans! THINK about a lender that cannot pay a broker for TWO WEEKS, THAT is a very bad sign. IF they were solid I would NOT STILL be waiting to be paid!!! IF a lender IS SOLVENT and liquid they pay the Broker at the time of close. For the SECOND time I’ve put a perfect borrower through Provident Funding Associates L.P. and I STILL have NOT been paid in more than a full week and counting now. The last file took almost two FULL weeks to get paid. This reminds me of the days when banking lenders began wobbling, not paying us and then became insolvent, every excuse in the book as to why you haven’t been paid, of course Provident Funding paid themselves, most likely given themselves generous bonuses AND PAID THEIR own bills with my commission check but they’re not paying the loan agent that put the file through them in good faith. THERE is absolutely NOTHING worse than, choosing a lender, submitting for approval the client you have a relationship with, sometimes for decades, doing ALL the work and then waiting in the balance to SEE if you’ll be paid. Provident Funding Associates L.P. is the ONLY lender that withholds the funds for WEEKS, or longer in my case the last time. GOOD LESSON, I hope you’ll look at Fremont Bank, Weslend, Interbank or Commerce that have comparable or better pricing some days AND you get paid when the loan closes, not WEEKS later! IT is NOT a great rate if you do not get paid!