Provident Funding

Initial Business Response /* (1000, 6, 2015/12/02) */
As of the date of this letter, your August 2015 payment and all subsequent payments remain unpaid, you are in default under the terms of the loan documents you executed at the closing of this loan, and your loan is in serious danger of...

being referred to our Foreclosure Department. As previously explained to you by our representatives, it is imperative that we successfully receive at least four monthly payments, or $4,799.00, in one lump payment as quickly as possible to avoid your loan being referred to our Foreclosure Department.
Our records reflect our representatives previously assisted you with a no-cost phone payment on July 13, 2015, at which time three monthly payments were outstanding and you elected to submit a no-cost phone payment for two of the three outstanding monthly payments. Since you are familiar with utilizing this payment method, feel free to contact me using the information below as I would be happy to coordinate another no-cost phone payment. As previously explained to you, due to the delinquency of your loan and in accordance with our standard procedures, you are currently unable to submit one-time online payments. Please be advised that if the $4,799.00 minimum lump sum payment is not successfully received in a timely manner and your loan is referred to our Foreclosure Department, your loan will be required to be fully reinstated using certified funds.
In response to your complaint, allow me to clarify that Provident Funding services all loans in accordance with the terms of the documents executed at the closing of each loan and that we apply our policies consistently, fairly and equally to all of our valued customers. We bring your attention to Section 1 of the enclosed copy of the Mortgage you and your wife executed at the closing of this loan, which states that we may return any payment or partial payment if the payment or partial payments are insufficient to bring the loan current.
The history of this mortgage loan reflects checks have been returned to you on three separate occasions since November 13, 2015 due to the amount of the checks being insufficient to bring your loan current. To further clarify, as of November 13, 2015, your August - November 2015 payments, each in the amount of $1,199.75, were outstanding for a total of $4,799.00. On November 13, 2015, check numbers [redacted] and [redacted], each in the amount of $1,244.65, were received. Due to the total amount of those checks being less than the minimum amount we could accept, in accordance with our standard procedures and the Mortgage executed at the closing of this loan, the checks were returned to you without being processed. One of our representatives confirmed the return of both checks via e-mail on November 18, 2015, at which time our representative re-clarified a minimum of three payments had to be received in one lump sum payment since your loan was due for four monthly payments.
Although you were well-aware of the minimum payment amount we would accept and our policy of returning payments which were insufficient to bring your loan current, check number 4786 in the amount of $1,244.65 was subsequently received on November 25, 2015, and it was returned to you without being processed. Check numbers [redacted] were re-submitted to us on December 1, 2015, and those checks were once again returned to you without being processed. Copies of the returned check letters with images of checks and your 2015 payment history are enclosed with the original of this letter.
It should be noted that a Streamlined Modification Trial Period Plan was approved on November 3, 2015 in consideration of the serious delinquency of your loan. Although the proposed trial period payments for that plan were $253.87 less than your current total monthly payment, the plan was cancelled on November 18, 2015 after you advised our representatives you were not interested in pursuing it.
It is once again imperative that we successfully receive at least four monthly payments, or $4,799.00, in one lump payment as quickly as possible to avoid your loan being referred to our Foreclosure Department.
Initial Consumer Rebuttal /* (3000, 8, 2015/12/03) */
(The consumer indicated he/she DID NOT accept the response from the business.)
The payments were refused simply because they were in separate envelopes. You did receive payment, but your own internal policy caused you to turn them away.
The amount of the loan payments as they currently stand are not the issue. We were down one job, but that has since changed, so there is zero interest in going back to a new 30- or 40-year loan just to reduce the monthly payments by a few hundred dollars - that is a foolish thought.
The payments were sent in good faith to pay money that was owed as it became available, rather than wait until the entire amount had been saved up. At the time the checks were sent there was no known restriction on having to make every single payment all at once. It was only after checks had been mailed out, and then returned was that stated - a restriction I do not respect. Currently, checks are still somewhere in the mail system. You did acknowledge receiving these checks and then returning them. Until I have confirmation and physical custody of the checks, you are preventing me from actually making payments.
This is my point of contention. If the checks had simply been received and then held until your "required" number had been reached, you would have several thousand dollars ready to be deposited and additional checks would be on their way to completely pay off what is past due. You did not choose this route, so you are forcing the delay of payments.
Final Consumer Response /* (3000, 14, 2015/12/07) */
(The consumer indicated he/she DID NOT accept the response from the business.)
The total amount needed was sent separately, and you were informed as such. Simply keeping the ones mailed earlier until they were all received would have covered your requirement. Now there are multiple checks somewhere in the mail that I no longer have. That makes me very uncomfortable to make any additional payments, just in case these older checks suddenly get cashed.
I have no issue making the payment, but not with uncashed checks floating around.
Final Business Response /* (4000, 16, 2015/12/09) */
You have not provided any new or materially different information for our review. As outlined in our previous correspondence, we are required to process payments upon receipt and are unable to "hold" your check payments as you suggest. Check number 4786 was mailed back to you on November 25, 2015, check numbers [redacted] and [redacted] were mailed back to you on December 1, 2015, and none of the checks were applied to your account.
We must remind you of the urgent nature of this matter. Due to the serious delinquency of your loan and you knowingly submitting insufficient payments, your loan is on the verge of being referred to our Foreclosure Department. If the required $4,799.00 minimum lump sum payment is not successfully received on or before 5 PM PT on Friday, December 18, 2015, your loan is scheduled to be referred to our Foreclosure Department on Monday, December 21, 2015.

Provident has bordered on abusive in my opinion. They have done nothing to make our experience a good one. Not only did we have to sign the same paperwork over and over and over again, but they aren't giving the funding that is needed so the people in the home we are purchasing can get their home and move out. We also had a closing date that was set 3-4 weeks, for a Friday, June 3rd. We went in on June 2nd and were sure they would provide the funding by Monday. On Monday, they asked us for more bank statements and signatures! Really? Unbelievable! Why didn't they do that before closing? Who works at that place, anyway? This has been the most stressful time of our lives as we have jumped through so many hoops at the most inconvenient of times. If they tell you that funding will happen within 24-48 hours, DON'T BELIEVE THEM! I just barely got a call saying that the funding came through at 4:00 on the 3rd day--plus the weekend. It has disrupted all our plans for moving, and that of the family we bought the house from. It is interesting the Provident is so picky that you do every single thing :"exactly" how they want it done, but they don't censor themselves to do what they promise. I hope you go somewhere else for funding. Honestly, if we could have backed out of the whole thing, we would have. . . .

Initial Business Response /* (1000, 5, 2015/02/12) */
I have been asked to respond to the complaint you filed with the Revdex.com.
Firstly, I would like to assure you that we strive to provide the best possible service to all of our valued customers. That being said, we do...

adhere very strictly to a policy of waiving late charges only when we have made an error. Due to a high scrutiny banks and lenders face, we are left with no latitude to make exceptions and we want to ensure we have a fair application of policy relating to waiving of late charges.
We have researched this matter and have confirmed that your January 1, 2015 installment was not received until we received a 3rd party electronic billpayment on January 30, 2015. Please review the enclosed payment history which reflects the date your January 1, 2015 installment was received.
For your clarification, please review the enclosed copy of the Annual Escrow Account Disclosure Statement that was mailed to you on November 6, 2014 which notified you that your monthly mortgage payment had been updated to $2,115.21 effective with your January 1, 2015 installment. Our records reflect that you signed into your online account on December 4, 2014 and elected to enroll in our paperless option so that further correspondence would be e-mailed to you in lieu of postal mail. In accordance with that request, an email was sent to you on December 18, 2014 notifying you that an important letter had been added to your online account. That important letter was your Monthly Mortgage Statement which reflected that your next payment due was the January 1, 2015 installment in the amount of $2,115.21; copies of our December 18, 2014 email and the Mortgage Statement are enclosed for your records.
Please also review the enclosed copy of Section 1 of the Deed of Trust that you executed at the origination of this loan, in which you agreed that any payment insufficient to bring the account current may be returned to you. Despite notifying you via postal mail and e-mail that your monthly payment had been updated to $2,115.21 effective with you January 1, 2015 installment, we received a payment in the amount of $2,036.94 on January 8, 2015. In accordance with the Deed of Trust and our standard procedures, the short payment was returned to your financial institution on January 8, 2015 and an email was sent to you notifying you an important letter had been added to your online account; a copy of our January 8, 2015 email is enclosed. I have also enclosed the accompanying letter that was available to you through your online account which notified you that your payment could not be accepted due to the amount being less than the full amount due, that you needed to resubmit payment immediately, and that if we did not receive an acceptable payment by the 16th of the month a late charge would be assessed.
It should be noted that we have no record of receiving a replacement payment prior to receiving a 3rd party electronic billpayment on January 30, 2015.
According to the terms of the enclosed copy of the Promissory Note that you executed at the closing of this loan, payments are due on the 1st of the month. If a payment is not successfully received by the end of the 15th calendar day after the due date, a late charge will be assessed. The amount of the late charge will be 5% or the maximum allowable by state law of the overdue payment of principal and interest. It is the responsibility of the borrower to ensure payments are received in accordance with the terms of the Note on the 1st of the month and within the grace period to avoid the assessment of a late charge.
As we did not successfully receive a payment for your January 1, 2015 installment in a timely manner a late charge in the amount of $85.21, which was paid on January 30, 2015, was properly assessed and we are unable to accommodate your request to refund this charge.
For your records, since your January 1, 2015 installment was successfully received within the same month it was due, no 30 day late has been or will be reported to the credit bureaus and this matter will not negatively affect your credit score.
We would like to recommend our payment drafting service, which is available at no cost. This option, which would automatically draft your payments from a designated bank account on the fifth day of each month, is explained in more detail on our website, www.provident.com, where you can also enroll if you choose. Enrollment in this service will ensure that your payment is received each month in a timely manner, providing that the draft is accepted by the financial institution.
We encourage you to continue to utilize our email payment notification service, which you have been enrolled in since December 4, 2014, as this free service will allow you to monitor the timely receipt of your payments and information regarding your account.
At this time, your loan is next due for the March 1, 2015 installment in the amount of $2,115.21. I may be reached by phone at XXX-XXX-XXXX or via email at [redacted]@provident.com if you have any further questions.
Sincerely,
[redacted]
Consumer Compliance
Enclosures
Initial Consumer Rebuttal /* (3000, 7, 2015/02/14) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I still consider their business practice a poor one. I would not understand why they would not take a 95% payment and why they have to return the entire payment. They then charge a penalty that is much larger than the deficit. This company never explains to the custom why they keep such a poor business practice.
Final Business Response /* (4000, 9, 2015/02/19) */
Provident Funding is responding to the rebuttal you filed with the Revdex.com.
While we apologize that you found our previous correspondence insufficient, we must remind you that, as a federally regulated mortgage servicer, we are required to service all loans in accordance with the loan documents. As such:
Pursuant to Section 1 of your Deed of Trust, a copy of which was provided to you with our February 12, 2015 response, any payment insufficient to bring your account current may be returned to you.
Pursuant to your Promissory Note, a copy of which was provided to you with our February 12, 2015 response, a full monthly payment is due by the 1st of the month and within the 15 day grace period. If a full monthly payment is not received by the 16th day of the month a late charge will be assessed.
Pursuant to your Promissory Note, the amount of the late charge is 5% of your monthly principal and interest payment. As you know, your monthly principal and interest payment is $1,704.27 and the late charge amount is $85.21 ($1,704.27 x 5% = $85.21).
As previously clarified, on January 8, 2015 we received a payment for your loan that was less than the total amount due and that the payment was returned to you. We have no record of receiving a full monthly payment for your January 1, 2015 installment until we received a 3rd party electronic billpayment on January 30, 2015.
We have re-confirmed that the January 2015 late charge was properly assessed and are once again unable to accommodate your request to refund the late charge.
I may be reached by phone at XXX-XXX-XXXX or via email at [redacted]@provident.com if you have any further questions.
Sincerely,
[redacted]
Consumer Compliance

We have been a customer of Provident Funding for nearly two years now. Recently we were presented with an Annual Escrow Account Disclosure Statement. They have calculated a $3295 escrow shortage, which we are required to pay either up front or spread out over 12 months, which results in a $275 increase in monthly payments. In addition, they want to increase our monthly payment another $68, which I can only assume is to ensure no shortage the following year. They stated the shortage is from the fact that they have to make the tax payment one month prior to when they anticipated and from an underestimation of one quarter's taxes the previous year. They estimated the tax for the third quarter based on additional assessments (a deck) rather than the assessed value of our home. We are now paying for their mistakes. We asked if we could pay the taxes and homeowners insurances ourselves, but since we have mortgage insurance, they will not allow it. I thought mortgage insurance was collected in case we were delinquent. So if we handled our tax and hazard insurance payments, they would have the mortgage insurance money they've been collecting and will still collect from us to pay if we didn't keep up with the tax payments. We are both disgusted with the mortgaging process and with this company, which, by the way, we had no choice over since they purchased our loan from original lender. So much for our fixed rate mortgage!

Initial Business Response /* (1000, 5, 2015/02/27) */
Provident Funding takes pride in the quality of the loans that we originate and we are proud of our good name and reputation. For your records, our representatives evaluate all mortgage loan applications solely on the documentation...

provided and in compliance with Provident Funding guidelines and all federal, state and local regulations to which we are subject. Whether or not a mortgage loan application is approved is dependent on obtaining all documentation necessary to make a final non-conditional approval, verifying that the applicant's financial resources and ability to repay conform to our guidelines, and ensuring that we are able to lend on a subject property.
Provident Funding has investigated the concerns outlined in your complaint and we have confirmed that based on the information you provided during your January 14, 2015 initial online application and the subsequent phone call you had with your Provident Funding Mortgage Consultant, [redacted] on January 16, 2015, which included and was not limited to you relaying that your property type was a PUD-Detached, a pre-approval was obtained and documentation was required from you in order to underwrite your mortgage loan application and verify that you qualified for the requested loan terms.
However, after your appraisal report was obtained on January 27, 2015, our representatives discovered that your property type was in fact a PUD-Attached rather than a PUD-Detached as you had relayed during the initial stages of your application. Once this important information was discovered, our representatives promptly requested a condominium project questionnaire from your Homeowners Association ("HOA"). For your clarification, pursuant to Provident Funding guidelines, a completed condominium project questionnaire must be obtained when the subject property is a PUD-Attached and the questionnaire must evidence that a lender will not be responsible for more than six months delinquent HOA dues if or when the unit is acquired through foreclosure or deed-in-lieu. We agree with your statement that Florida statutes allow HOA's to collect more than six months unpaid HOA dues from a lender if a lender acquires a unit through foreclosure or deed-in-lieu, but we note that Florida statutes do not require mortgage lenders to approve mortgage loan applications in which a lender will be responsible for more than six months delinquent HOA dues if or when the unit is acquired through foreclosure or deed-in-lieu.
After your HOA completed the required condominium questionnaire, our representatives discovered that a lender would be responsible for more than six months unpaid HOA dues if the lender acquired a unit through foreclosure or deed-in-lieu. Our representatives continued to work with your HOA to determine if the questionnaire had been completed inaccurately, but it was confirmed that your subject property was ineligible for financing, based on the information provided by your HOA, and your mortgage loan application was subsequently denied.
Our loan denial is based solely on this reason and is not a reflection in any way on your personal creditworthiness. Additionally, our loan denial was not and will not be reported to any credit agencies and will not affect your credit score in any way.
Please be advised that had you relayed the accurate property type (PUD-Attached) to your Mortgage Consultant during the initial stages of your application process, in accordance with our standard procedures, the requirements concerning the PUD Questionnaire and the additional conditions associated with PUD Questionnaires would have been explained, and you would have been provided the option of obtaining a completed PUD Questionnaire prior to locking your rate and prior to submitting the funds for your appraisal report deposit. However, as outlined earlier in this letter, you relayed that your property type was a PUD-Detached, which in accordance with our lending guidelines is a property type that doesn't require a PUD Questionnaire to be completed.
Our records reflect that you were properly notified that the appraisal fee would not be refunded if your mortgage loan application was not approved; please review the enclosed copy of the Appraisal Deposit Agreement disclosure that was emailed to you on January 16, 2015. Additionally, Provident Funding has confirmed that you acknowledged and agreed to our appraisal deposit refund policy on January 18, 2015 when you submitted your $600.00 appraisal deposit online; prior to an applicant successfully submitting their deposit online, they must acknowledge our appraisal deposit refund policy. I also bring your attention to the enclosed copy of the Appraisal Deposit Agreement disclosure that you executed and agreed to on January 20, 2015.
In accordance with our appraisal deposit refund policy, $150.00 was electronically refunded to you on February 19, 2015; this refund represented the difference between your $600.00 appraisal deposit and the $450.00 appraisal fee. The appraiser provided a competent and complete report, and deserves to be compensated for the work performed. While we are sorry that we were not able to meet your mortgage needs, we are unable to grant your request for a refund the $450.00 appraisal fee.
Provident Funding is confident that this mortgage loan application was processed in compliance with all federal, state and local regulations to which we are subject, and that it was properly denied on February 18, 2015 due to your subject property being ineligible for financing. Provident Funding denies any and all allegations of wrongdoing on its part in connection with your loan application.
If you would like to have your appraisal report transferred to another lender to utilize in a new mortgage loan application, please notify me using the contact information below as we would be happy to work with your new lender to do so. You may contact me by phone at (XXX) XXX-XXXX or via e-mail at [redacted]@provident.com if you have any further questions.
Sincerely,
[redacted]
Consumer Compliance
Initial Consumer Rebuttal /* (3000, 7, 2015/03/17) */
(The consumer indicated he/she DID NOT accept the response from the business.)
First of all, I specifically told [redacted] that my house was attached, he asked me what the name of the HOA was and the management company name and I gave it to him. There is nowhere in the initial application where it asks if the unit is PUD-attached.
If you agree with my point about the Florida statute then it would be ridiculous for a HOA to request less money when going into foreclosure. Would you? They want to get as much money back as they can. If Provident Funding doesn't see this, they should stop trying to provide loans in Florida, at least loans to homes with HOAs.
The whole way this company works is unethical. The first thing they want is for you to put the deposit down(within 3 days), so you don't go running somewhere else when you realize how shady they are. They don't care about PUD-attached or anything else until you are trapped with them. Then, they drop the hammer and you go crazy waiting until the last day wondering if your loan is going to close.
It would have been a lot easier and I wouldn't have lost $450, if all this was done initially and then require an appraisal. But then Provident Funding wouldn't have you where they want you.
Final Business Response /* (4000, 9, 2015/03/24) */
Provident Funding is responding to the rebuttal you filed with the Revdex.com.
In an effort to resolve this matter your additional concerns were relayed to Senior Management and while we remain confident that this mortgage loan application was properly processed in compliance with all federal, state and local regulations to which we are subject, as a gesture of good faith and in consideration of the information you provided in your rebuttal, we were able to obtain approval to refund the $450.00 appraisal fee. A check in the amount of $450.00 will be sent to you under separate cover shortly. Please be advised that our $450.00 reimbursement is not to be construed as an admission of liability on our part.
If you have any further questions I may be reached by phone at XXX-XXX-XXXX or via email at [redacted]@provident.com.
Sincerely,
[redacted]
Consumer Compliance

Initial Business Response /* (1000, 5, 2014/08/07) */
Provident Funding is responding to the complaint you have filed with the Revdex.com.
Although we have confirmed that we did not receive your full July 1, 2014 installment until July 31, 2014, as a gesture of good faith, the...

July 2014 late charge in the amount of $87.20 has been waived. Please review the enclosed payment history which reflects that there is not currently a late charge balance on your account.
For your clarification, in order to ensure that there are sufficient funds in your escrow account to pay your annual property insurance policy and your Douglas County property tax installments as they come due, an escrow analysis will be completed and sent to you every March. Annual adjustments to your escrow payment will become effective with your May 1st installment. Please ensure that you make the proper adjustments and that we receive your full monthly mortgage payment by the 1st of the month due date or within the grace period.
It is important to note that, in accordance with the enclosed copy of the Promissory Note you and your wife executed at the closing of this loan, if a payment is not successfully received by the end of the 15th calendar day after the due date, a late charge will be assessed. The amount of the late charge will be 5% or the maximum allowable by state law of the overdue payment of principal and interest.
At this time, your loan is next due for the September 1, 2014 installment in the amount of $2,065.73. We are pleased that you enrolled in our free payment drafting service. A free automated draft in the amount of $2,100.73 is scheduled to be deducted from your bank account on September 5, 2014. I may be reached by phone at XXX-XXX-XXXX or via email at [redacted]@provident.com if you have any further questions.

Sincerely,
[redacted]
Consumer Compliance
Initial Consumer Rebuttal /* (2000, 7, 2014/08/08) */
(The consumer indicated he/she ACCEPTED the response from the business.)
I am very pleased to hear that this matter has been resolved. I will be sure to monitor any adjustments to the payment amount so that this does not happen again in the future. Thank you.

Initial Business Response /* (1000, 5, 2015/11/18) */
Provident Funding is responding to the complaint you filed with the Revdex.com.
We apologize for any confusion you may have experienced in relation to this matter. We have investigated your concerns and we did find some...

discrepancies in the information that was being reported to the credit bureaus. Our Credit Reporting Department submitted a correction to the credit bureaus to ensure that loan #XXXXXXXXXX is being accurately reported as transferred internally in May 2011 with a $0 balance due; a copy of that submission is enclosed for your reference.
With that being said, we have confirmed that we are accurately reporting the payment history for loan #XXXXXXXXXX as we did not receive your May 2010 to May 2011 payments within the same month they were due; a complete payment history has been enclosed for your records. No further information will be reported to the credit bureaus for loan #XXXXXXXXXX.
As you know, you and [redacted] executed a new Promissory Note as part of the short sale that was completed in May 2011 and, since this account is an unsecured debt, we assigned it a new account number (account #XXXXXXXXXX). Your account is next due for the December 1, 2015 installment in the amount of $150.09.
I may be reached by telephone at (XXX) XXX-XXXX or via e-mail at [redacted]@provident.com if you have any further questions.
Sincerely,
[redacted]
Consumer Compliance
Enclosures

Initial Business Response /* (1000, 5, 2014/05/21) */
Firstly, I would like to assure you that we strive to provide the best possible service to all of our valued customers. That being said, we do adhere very strictly to a policy of waiving late charges only when we have made an error. Due...

to a high scrutiny banks and lenders face, we are left with no latitude to make exceptions and we want to ensure we have a fair application of policy relating to waiving of late charges.
We have investigated this matter and the history of your loan reflects we have received multiple insufficient payments from you, and that we have consistently advised you that your monthly payments must be received in one full payment. A timeline of this matter with supporting documents is below:
7/24/12 - You and your wife execute and agree to the terms of the Promissory Note, which state that a late charge will be assessed if we do not receive the full amount of any monthly payment by the end of 15 calendar days after the 1st of the month due date. A copy of your Note is enclosed.
8/7/12 - A Welcome Letter is sent to you which notifies you we do not accept partial payments. A copy of that letter is enclosed.
12/13/13 - An annual escrow analysis is performed on your loan, and your total monthly payment is updated. A copy of the escrow analysis letter that we sent to you which notified you your total monthly payment had been updated to $5,282.41 effective with your February 1, 2014 installment is enclosed.
1/29/14 - One of our representatives speaks with you and confirms your next payment due is the February 1, 2014 installment in the amount of $5,282.41.
2/5/14 - An insufficient payment in the amount of $5,261.63 is received and, in accordance with our standard procedures, the payment is accepted as a short payment and applied towards your February 1, 2014 installment. A copy of the short payment letter that we sent to you which notified you the payment had been accepted as short and future payments that are not in the full amount will be returned to you is enclosed.
3/5/14 - Another insufficient payment in the amount of $5,261.63 is received, and in accordance with the information that was relayed to you on our February 5, 2014 letter and our standard procedures, the payment was not deposited and was returned to you. A copy of the returned payment letter we sent to you which notified you the payment had been returned since it was less than a full monthly payment is enclosed.
3/6/14 - One of our representatives speaks with you and clarifies your payment was returned because it was insufficient to bring the loan current, and that your total monthly payments were due in the amount of $5,261.63. You elect to enroll in our email notification service.
4/8/14 - Another insufficient payment in the amount of $3,800.00 is received and, in accordance with the information that was previously relayed to you and our standard procedures, the payment was not deposited and was returned to you. Copies of the email and returned payment letter we sent to you which notified you the payment had been returned since it was less than a full monthly payment is enclosed.
4/15/14 - Another insufficient payment in the amount of $1,500.00 is received and, in accordance with the information that was previously relayed to you and our standard procedures, the payment was not deposited and was returned to you. Copies of the email and returned payment letter we sent to you which notified you the payment had been returned since it was less than a full monthly payment is enclosed.
4/21/14 - A payment in the amount of $5,282.41 is received and applied towards your April 1, 2014 installment. A complete payment history which reflects the dates that each of your monthly payments have been successfully received is enclosed.
We have confirmed that you were consistently advised that your monthly payments must be received in one full payment, and that the April 2014 late charge in the amount of $214.10 was properly assessed. We are therefore unable to waive the April 2014 late charge.
For your records, as your April 1, 2014 installment was successfully received within the same month it was due, no 30 day late has been or will be reported to the credit bureaus and the late payment will not negatively affect your credit score.
We would like to recommend our payment drafting service which is available at no cost. This option, which automatically drafts payments from a designated bank account on the fifth day of each month is explained in more detail on our website, www.provident.com, where you can also enroll if you choose. Enrollment in this service will ensure that your payment is received each month in a timely manner, providing that the draft is accepted by your financial institution.
As of this date, your next payment due is the June 1, 2014 installment in the amount of $5,282.41. You may reach me by phone at XXX-XXX-XXXX or via e-mail at [redacted]@provident.com if you have any further questions.
Sincerely,
[redacted]
Consumer Compliance

Initial Business Response /* (1000, 5, 2014/02/20) */
Provident Funding is responding to the complaint you filed with the Revdex.com.
Our Payoff Statement fee is $10.00 per statement, four statements have been ordered on your account. Please note that the fee is a charge for...

preparing the information needed to complete a payoff and is not a prepayment penalty.
Payoff statements can only be obtained by third parties who have been authorized by you by providing both the loan number and your social security number; the party is notified prior to ordering the statement that a $10 E-Payoff Delivery Fee will be assessed on loan, where applicable. The details of payoff statement orders are below and you should consult with these individuals for an explanation of the specific orders:
• Date ordered: 7/12/13 by [redacted] Generated payoff through: 8/5/2013
• Date ordered: 2/3/14 by [redacted] Generated payoff through: 2/28/2014
• Date ordered: 2/11/14 by [redacted] Generated payoff through: 2/14/2014
• Date ordered: 2/12/14 by [redacted] Generated payoff through: 2/21/2014

As you know, Provident Funding Loan #XXXXXXXXXX was paid in full on February 14, 2014. We have confirmed that the 4 $10 E-Payoff Delivery fees were properly assessed and therefore will not be refunded. I may be reached via telephone at (XXX) XXX-XXXX or via email at [redacted]@provident.com if you have any further questions.
Sincerely,
[redacted]
Consumer Compliance

Provident funding did not update my tax payment in the escrow from semi-annual to annual, and resulted in an interests/fine of $80.96 for late payment. I contacted Provident Funding to request a refund and Provident Funding was extremely slow in responding and after weeks and months of "investigation", they concluded that they would not do anything.
It is quite disappointing for a long time customer after that whole long process just to get an answer of the bank would not take any responsibilities.
Negative experience for sure.

Initial Business Response /* (1000, 5, 2015/08/04) */
Provident Funding is responding to the compliant you filed with the Revdex.com.
Firstly, I would like to assure you that we strive to provide the best possible service to all of our valued customers. That being said, we do adhere...

very strictly to a policy of waiving late charges only when we have made an error. Due to a high scrutiny banks and lenders face, we are left with no latitude to make exceptions and we want to ensure we have a fair application of policy relating to waiving of late charges.
Secondly, we cannot agree with your assertions that Provident Funding has delayed or otherwise misprocessed your check payments. Conversely, our policies and procedures require that all complete payments be processed as of the day they are received and that under no circumstances are such payments held for future day processing. To that end, our policy is to date-stamp all check payments upon receipt, and I bring your attention to the enclosed copy of the date-stamped payment processing record for check #[redacted], and specifically the Date and Payment Date fields on the top of the document which reflect check #[redacted] was received and date-stamped at our payment processing facility on June 18, 2015. Additionally, please review the enclosed copy of the date-stamped payment processing record for check #[redacted] which reflects that check #[redacted] was received and date-stamped at our payment processing facility on July 23, 2015.
According to the terms of the enclosed copy of the Promissory Note that you executed at the closing of the loan, payments are due on the 1st of the month. If a payment is not successfully received by the end of the 15th calendar day after the due date, a late charge will be assessed. It is the responsibility of the borrower to ensure payments are received in accordance with the terms of the Note on the 1st of the month and within the grace period to avoid the assessment of a late charge.
As we did not successfully receive a payment for your June 1, 2015 installment or your July 1, 2015 installment by the first of the month due date or within the grace period, late charges each in the amount of $89.30 were properly assessed. We are, therefore, unable to accommodate your request to waive or refund the late charges.
For your records, since your June 1, 2015 installment and July 1, 2015 installment were successfully received within the same month they were due, no derogatory information has been or will be reported to the credit bureaus and this matter will not negatively affect your credit score.
To avoid any mailing delays we would like to recommend our payment drafting service, which is available at no cost. This option, which would automatically draft your payments from a designated bank account on the fifth day of each month, is explained in more detail on our website, www.provident.com, where you can also enroll if you choose. Enrollment in this service will ensure that your payment is received each month in a timely manner, providing that the draft is accepted by the financial institution, and would also save you mailing expenses.
We are pleased that you recently enrolled in our email notification service as this free service will allow you to monitor the timely receipt of your payments and information regarding your account.
As of the date of this letter, your loan is next due for the August 1, 2015 installment in the amount of $1,786.07. If you have any further questions I may be reached by phone at XXX-XXX-XXXX or via email at [redacted]@provident.com.
Sincerely,
[redacted]
Consumer Compliance
Enclosures
Initial Consumer Rebuttal /* (3000, 7, 2015/08/08) */
(The consumer indicated he/she DID NOT accept the response from the business.)
Provident mailed a written response to me via USPS on 8/4/15. I received it THREE days later on 8/7/15. Yet, I mailed my June payment on 6/8, and they state it was not received for 11 days. I mailed my July payment on June 29th, and they say it was not received for 25 days. Twenty-five days. What I want to know is, and perhaps the Revdex.com can answer this, what government agencies monitor or have over site at their processing center? There is no way for me or any other consumer to know how the mailed payments are physically processed, or if it's done in a timely or efficient manner. It is up to outside agencies to ensure consumers are protected. I do not care about having my late charges refunded. I do care about my payments being handled in a responsible and efficient manner at their processing center. I hope that Provident or the Revdex.com will look into this.
Final Business Response /* (4000, 9, 2015/08/11) */
Provident Funding is responding to the rebuttal you filed with the Revdex.com, which seems to request a response from the Revdex.com instead of Provident Funding.
We can only reiterate that Provident Funding's policies and procedures require that all complete payments be processed as of the day they are received, that under no circumstances are such payments held for future day processing, and that our policy is to date-stamp all check payments upon receipt. This process it routinely audited by both internal and external measures and we are confident that we have consistently processed your check payments as of the day they are received.
In response to your additional concerns, I spoke with the head of Provident Funding's Payment Processing Department today and obtained confirmation that there were no unprocessed check payments at our payment processing facility as of the close of business on June 16, 2015 (the end of the June 2015 grace period) or July 17, 2015 (the end of the July 2015 grace period). This serves as further evidence that your June and July payments were not received by Provident Funding on the first of the month due date or within the grace period. It remains the responsibility of the borrower to ensure payments are received in accordance with the terms of the Note to avoid the assessment of a late charge.
We have re-confirmed that the June 2015 and July 2015 late charges were properly assessed and we are once again unable to waive or refund these late charges.
As of the date of this letter, your loan is next due for the September 1, 2015 installment in the amount of $1,786.07. If you have any further questions I may be reached by phone at XXX-XXX-XXXX or via email at [redacted]@provident.com.
Sincerely,
[redacted]
Consumer Compliance

Initial Business Response /* (1000, 5, 2015/02/13) */
I have been asked to respond to the complaint you filed with the Revdex.com.
We apologize for any confusion you [redacted] have experienced in relation to this matter. Please review the enclosed payment history which reflects...

that, as a gesture of good faith, the $25.00 return payment fee has been waived and there is not currently a fee balance on your account.
To avoid any potential mailing delays we would like to recommend our payment drafting service, which is available at no cost. This option, which would automatically draft your payments from a designated bank account on the fifth day of each month, is explained in more detail on our website, www.provident.com, where you can also enroll if you choose. Enrollment in this service would ensure that your payment is received each month in a timely manner, providing that the draft is accepted by the financial institution, and would also save you mailing expenses.
At this time, your loan is next due for the March 1, 2015 installment in the amount of $1,755.41. I [redacted] be reached by phone at XXX-XXX-XXXX or via email at [redacted]@provident.com if you have any further questions.
Sincerely,
[redacted]
Consumer Compliance
Enclosure