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bubu1234
20 Posts |
 Posted - 01/27/2008 : 10:02:25 PM
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| I have been with amtrust as a broker since they started doing business. I have heard pricing is really good at provident funding. How do they compare to amtrust. I have not found anyone that can beat them. |
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rad
1368 Posts |
Posted - 01/27/2008 : 10:17:42 PM
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Provident is precisely 25 bps better. I am closing my first loan with AmTrust after getting fed up with Provident. As a science experiment I submitted one file to both lenders. Provident returned it with more than two pages of stips including significant appraisal conditions (61% LTV). Then Provident came back and stipped me more. LOL. I kid you not. The AmTrust conditions were to the tune of "complete SIGNED tax returns" and maybe a 4506-T, I don't remember there were so few conditions.
Then it got better. I drew docs myself, which was very, very cool. No down time whatsoever.
The only thing that scares me, quite frankly, is there are no funding conditions. I schedule the funding without the docs ever going back to AmTrust prior to the funding. I never experienced anything like that before and frankly I'm a bit nervous as there are always funding conditions, usually because the notary misses something.
You have to ask yourself if it's worth 1/4 of a point to go through hell with a DU approval?
I'm glad to hear you've been happy enough with AmTrust to stay with them for what appears to be an extended period of time. |
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bubu1234
20 Posts |
Posted - 01/27/2008 : 10:24:24 PM
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| I do from time to time have post closing issues. They have all been easy to deal with though. Most of the loans I Upload, AU usually doesn't ask for much. UG does my underwriting and they are good at not giving many stips. ALL in all, Amtrust is the best. |
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rad
1368 Posts |
Posted - 01/27/2008 : 10:33:35 PM
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What/who is UG?
Do you use them primarily for 30-year conforming? They have so many programs that I can't possibly learn all of them.
Also, frankly, I don't think the Provident deal would have closed. I don't want to jinx myself and say more but AmTrust is definitely the bomb. |
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1003s.com
2904 Posts |
Posted - 01/28/2008 : 12:41:39 AM
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quote:
Originally posted by rad
Provident is precisely 25 bps better. I am closing my first loan with AmTrust after getting fed up with Provident. As a science experiment I submitted one file to both lenders. Provident returned it with more than two pages of stips including significant appraisal conditions (61% LTV). Then Provident came back and stipped me more. LOL. I kid you not. The AmTrust conditions were to the tune of "complete SIGNED tax returns" and maybe a 4506-T, I don't remember there were so few conditions.
Then it got better. I drew docs myself, which was very, very cool. No down time whatsoever.
The only thing that scares me, quite frankly, is there are no funding conditions. I schedule the funding without the docs ever going back to AmTrust prior to the funding. I never experienced anything like that before and frankly I'm a bit nervous as there are always funding conditions, usually because the notary misses something.
You have to ask yourself if it's worth 1/4 of a point to go through hell with a DU approval?
I'm glad to hear you've been happy enough with AmTrust to stay with them for what appears to be an extended period of time.
As I recall, Ohio Savings, required brokers draw their own DOC'S, it was a little
extra work, I never had an issue though. |
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tuna4u
156 Posts |
Posted - 01/28/2008 : 04:40:13 AM
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| Also, the fees that provident charges are the highest in the industry. Although they pay well on YSP the difference in fees can add a significant amount back into your net profit, closing the gap in YSP difference. |
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lunarhamster
2539 Posts |
Posted - 01/28/2008 : 05:09:56 AM
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| I'll take a a quarter less anyday not to have to deal with Provident. |
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gsgroupinc
1864 Posts |
Posted - 01/28/2008 : 05:52:13 AM
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| Does Amtrust charge to run the file. I know Provident charges $25.00 that is enough for me not to do business with them. |
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lunarhamster
2539 Posts |
Posted - 01/28/2008 : 05:57:02 AM
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They also find EVERY reason to have to re-draw docs, 350 a whack, and they have charged it on every loan I have done, so... take the .25 hit and you will still make more money.
They conditioned me once to have the carpet cleaned. bite me. |
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AGreene00
2577 Posts |
Posted - 01/28/2008 : 07:34:48 AM
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quote:
Originally posted by rad
Provident is precisely 25 bps better. I am closing my first loan with AmTrust after getting fed up with Provident. As a science experiment I submitted one file to both lenders. Provident returned it with more than two pages of stips including significant appraisal conditions (61% LTV). Then Provident came back and stipped me more. LOL. I kid you not. The AmTrust conditions were to the tune of "complete SIGNED tax returns" and maybe a 4506-T, I don't remember there were so few conditions.
Then it got better. I drew docs myself, which was very, very cool. No down time whatsoever.
The only thing that scares me, quite frankly, is there are no funding conditions. I schedule the funding without the docs ever going back to AmTrust prior to the funding. I never experienced anything like that before and frankly I'm a bit nervous as there are always funding conditions, usually because the notary misses something.
You have to ask yourself if it's worth 1/4 of a point to go through hell with a DU approval?
I'm glad to hear you've been happy enough with AmTrust to stay with them for what appears to be an extended period of time.
That is what I love about AmTrust more than anything. You pull the docs, you approve the HUD, you set the wire. You will occassionally have a post closing stip to take care of, but it is normally something very minimal and simple to take care of. Now, if you do something extremely fraudalent, you can be forced to buy the loan back. I heard of alot of people who were approving HUDs with 6% seller concessions on the MyCommunity well past the deadline and the switch to 3%. AmTrust is making these brokers buy loans back. It is certainly more responsibility on the broker's end, but you are allowed much more flexibility as well. |
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FundStar14
631 Posts |
Posted - 01/28/2008 : 08:43:13 AM
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quote:
Originally posted by gsgroupinc
Does Amtrust charge to run the file. I know Provident charges $25.00 that is enough for me not to do business with them.
No they don't charge. AmTrust has a great online processing system and their call support is fantastic. They are a good lender with good rates..... |
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jeff4567
1378 Posts |
Posted - 01/28/2008 : 08:49:41 AM
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| I just started using AmTrust, sent my first deal there last week. Is there anything to watch out for with them? |
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FundStar14
631 Posts |
Posted - 01/28/2008 : 08:54:45 AM
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quote:
Originally posted by jeff4567
I just started using AmTrust, sent my first deal there last week. Is there anything to watch out for with them?
It seems basic, but don't forget to order funding when drawing docs. |
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AGreene00
2577 Posts |
Posted - 01/28/2008 : 08:58:09 AM
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quote:
Originally posted by FundStar14
quote:
Originally posted by jeff4567
I just started using AmTrust, sent my first deal there last week. Is there anything to watch out for with them?
It seems basic, but don't forget to order funding when drawing docs.
Don't forget to pull flood cert yourself on their website and make sure that your title company is setup with them. I have seen many people get to the day before closing and realize that their title company is not in the system, which is a 24 hour turnaround time to get setup. Once you use them a few times and get the kinks worked out it is a well-oiled machine from then on. |
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mganovsky
1412 Posts |
Posted - 01/28/2008 : 09:18:48 AM
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Provident does beat Interfirst out by about a 1/4 of a point untill you are competeting against another broker. example if you go down to 5.625 interfirst is 1/4 better or 5.5 interfirst is better: Rate 5.5 = interfirst 1.303(YSP), provident 1.125(YSP) also interfirsts fee's are only $475 and provident fee's ar $784. At higher rates Provident is better.
I have a software that I can do a quick quote or upload the 1003 and click on search and it tells me what lenders will do the loan and there fee's and YSP.
The software is called Loan Rates Everywhere. It is amazing how quickly I can price out a loan, the system updates the rates every 10 minutes for live pricing and updates the guidelines daily. |
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bubu1234
20 Posts |
Posted - 01/28/2008 : 09:42:39 AM
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| I do use them primarily for conforming 30 year. I do a few 10 years here and there and the pricing is the best. They still have a NIV program that I use quite abit. There IO arms are good also. I have my personal loan with them too. |
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lucky1s
3271 Posts |
Posted - 01/28/2008 : 09:45:29 AM
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quote:
Originally posted by lunarhamster
They also find EVERY reason to have to re-draw docs, 350 a whack, and they have charged it on every loan I have done, so... take the .25 hit and you will still make more money.
They conditioned me once to have the carpet cleaned. bite me.
Are you serious?
The carpet?
For real? |
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bubu1234
20 Posts |
Posted - 01/28/2008 : 09:46:42 AM
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| Amtrust outsources most of their underwriting. UG is United Guarantee. I used MGIC some but they have alot of stips. It all depends on what part of the country you are in and what underwriter you get at a particular company. |
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AGreene00
2577 Posts |
Posted - 01/28/2008 : 09:53:12 AM
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quote:
Originally posted by bubu1234
I do use them primarily for conforming 30 year. I do a few 10 years here and there and the pricing is the best. They still have a NIV program that I use quite abit. There IO arms are good also. I have my personal loan with them too.
They also have very good pricing on 20 year loans. It is a pricing improvement of .5, whereas alot of lenders improve pricing by .125 or .25 for the 20 year. |
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Managing Prime
1988 Posts |
Posted - 01/28/2008 : 09:55:44 AM
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AND
They offer eSign!!!
Noticed no one mentioned that. Draw your own docs and use eSign to make for a much smoother and faster loan closing. |
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lemeuss
200 Posts |
Posted - 01/28/2008 : 09:58:26 AM
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I have a couple fellow brokers in my office who have used provident on deals to take advantage of pricing, but from what they've said, it's not worth the slightly better pricing. Not sure about AmTrust, I use a couple other lenders who allow us to draw our own docs and fund the loan. (Interfirst, now CitiMortgage, being one...rates have gotten worse since Citi's acquisition, so I've been sending a lot of business to Chase Wholesale)
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RGK2394
965 Posts |
Posted - 01/28/2008 : 11:11:32 AM
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Can anyone verify how long it takes for Provident to payout once loan is closed/funded???
I've heard anywhere from 2-3 biz days to 2 weeks..anyone confirm or deny?
Thanks! |
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lunarhamster
2539 Posts |
Posted - 01/28/2008 : 11:21:22 AM
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| I got my YSP about 8 days later. |
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Boulderco
999 Posts |
Posted - 01/28/2008 : 11:29:57 AM
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| If you're angry with yourself and believe you deserve to be punished, then Provident will accomplish that. You might want to just have someone kick you in crotch though, because it's over quicker and no one deserves to be punished that bad. |
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bubu1234
20 Posts |
Posted - 01/28/2008 : 11:35:42 AM
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| thanks for everyones opinion on provident. i don't think I need to be punished right now. |
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rad
1368 Posts |
Posted - 01/28/2008 : 11:38:34 AM
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quote:
Originally posted by Boulderco
If you're angry with yourself and believe you deserve to be punished, then Provident will accomplish that. You might want to just have someone kick you in crotch though, because it's over quicker and no one deserves to be punished that bad.
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1003s.com
2904 Posts |
Posted - 01/31/2008 : 10:01:24 PM
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Who can beat Amtrust, on the banker side?
As I understand it, not only does their pricing rock,
they also, handle post closing issues real fast,
so, the credit line use costs, could run lower with deals
funded with Amtrust. |
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caveman
5 Posts |
Posted - 02/09/2008 : 12:54:44 PM
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I'm new to this forum. In addition to wanting to learn more about the industry, a big reason I signed up was to express my utter hatred of Provident Funding. I am new to the mortgage business, but at 37 years old I have plenty of business experience and I know which relationships work and which don't.
Provident Funding operates to the lowest common denominator of the sales model: They sell strictly on price alone. But they have a bad product (some "assembly" required would be a gross understatement), poor customer service (nothing ever gets corrected quickly after their idiot "validators" impose their laughably ridiculous conditions), and no intention on developing long term business relationships.
Every deal you do with them is a journey into a black hole that you are never quite sure you will come out of. I've done 6 deals with them in the past 3 weeks. You'd think 2 deals a week would yield a pretty light work load and allow me to cruise along and devote some time to marketing. NO, not even close. Because of their never ending string of petty conditions, I am exhausted from repeatedly chasing down insurance agents, writing LOE's, uploading one revised document after another, and calling my clients so often it's to the point of embarassment.
You could make 3 times the YSP w/ Provident and it will still COST YOU MONEY. Deals that should realistically take 5-6 hours of my time are literally occupying 3 FULL days of phone calls, emails, uploads, downloads, high blood pressure and heartache. I have actually hung up the phone after "talking" with them, sick to my stomach and on the brink of crying out of frustration. And I'm not normally prone to emotion.
You know what's even worse? In my short time in the industry, 3 out of 6 closing attorneys I have used this month have told me they will never do another deal for us again if we use Provident Funding and some of them who didn't look at the title order close enough told me they would have refused the deal in the first place had they noticed it was with Provident Funding.
It got so bad so quickly that my company's owner called me into his office about 10 days ago. After a very short conversation, we agreed that it would be financially impossible to continue doing business with Provident Funding. It's just not worth it.
Don't let their prices fool you. The meat grinder they run you through will leave you infuriated, exhausted, and you will very quickly realize that their utter incompetence in every other aspect of the mortgage industry will cost you ALOT OF MONEY in the long run.
Avoid Provident Funding like the plague.
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csmgcorp
602 Posts |
Posted - 02/09/2008 : 5:08:48 PM
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Provident is worthless.......pricing doesn't mean anything if you can't close your deals.
I'd rather make less money than go grey at an early age from their bs |
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Quicksilver04
62 Posts |
Posted - 02/09/2008 : 5:43:40 PM
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| We send about 70% of our A paper business to provident funding. Yes they do condition the hell out our the files but its not that bad. We have processor that process the loans and get the files done so in the long run its not a big deal. We get our YSP in about a week from them as long as the title company doesn't mess anything up. Some people can deal with it and some people would just rather move on to another lender, thats what makes this business so nice. If they where so bad they wouldn't be opening up new branches every week. |
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808
1669 Posts |
Posted - 02/09/2008 : 6:21:29 PM
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| Provident Loans the fastest redraw in the West. Plus who wants to wait an extra 2wks for your YSP check. It's kinda like Wal Mart is it really worth the few bucks you save to have to deal w the parking lot, lines, confusion, toothless shoplifiting rednecks, doughnut eatin women trying to pass off expired coupons, people getting in the 10 items or less line w 22 and see the greeter who use to run a 2/28 80/20 subprime boiler room across town. Give me a quarter point piece of mind hit any day of the week |
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rad
1368 Posts |
Posted - 02/09/2008 : 6:37:00 PM
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LOL from 808 and caveman's first post. I don't think there's any other lender out there that provokes comparable animosity. If you've been burnt by them even once, like any good lesson, you don't easily forget it.
On the bright side, it drew you out of your cave, caveman. Welcome. |
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rad
1368 Posts |
Posted - 02/09/2008 : 6:40:41 PM
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| BTW, that AmTrust loan closed like a charm. Not one post-closing condition. |
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808
1669 Posts |
Posted - 02/09/2008 : 7:06:58 PM
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| this is a little bit off the subject but another lender to consider if you want great rates w some strong YSP is Taylor, Bean & Whitaker. If you have a solid Full Doc loan they are 2nd to none in Conventional or FHA/VA. They're based out of Ocala, Fl so they see appraisals in declining markets every day and are more than fair. They can get picky on stated as far as income goes (they still do Agency SISA) however that's probably why their doors are still open. They're LP only which initially turned me off but so far so good. Another thing is that the company they use to run your credit ALWAYS comes back w a higher score. So if you need a 680 to get your borrower qualified for a R/T Agency SISA and your sitting on a 677 run it thru their credit and it'll come up 685 or something like that. It worked on a loan I just funded w them last wk. Also you actually get a (.125) rebate if the property is in FL which 90% of my loans are. |
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rad
1368 Posts |
Posted - 02/09/2008 : 11:40:11 PM
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quote:
Originally posted by 808
They're LP only which initially turned me off but so far so good. Another thing is that the company they use to run your credit ALWAYS comes back w a higher score.
If you run DO they will accept it. So if you don't obtain an LP approval on their site but do obtain a DO approval on your site - you're good to go with TBW. They honor the approval. |
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Scrooge McDuck
7172 Posts |
Posted - 02/10/2008 : 06:29:05 AM
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| im snapping deals shut with provident like a bear trap lately. no issue and no need to wonder about amtrust. im getting ctcs in almost 1 shot. you have to call in and request to get the loan number from someone on the inside to get the binder, but thats the the only real trick to provident lately. i would go for the 1 shot package, but that is my only catch. |
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808
1669 Posts |
Posted - 02/10/2008 : 07:52:48 AM
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quote:
Originally posted by luto199
Damn it 808, don't ruin it for us! TBW really is top notch, last month i was getting same day underwrites on FHA loans on a consistent basis, and although its more like 4-5 days right now, I still like them by far the best. The underwrites i get back are so beautiful compared to UIniversal or Wells Fargo, just night and day. You know what I mean, those 5 page stip sheets that look like souce code, you have to decifer and make 5 million manual corrections to your 1003 and MCAW, and the underwriter is some 100 yr old woman working out of a cave that no one can reach.
I hope no one wastes their time with Chase FHA, its such a joke, their systems don't even have a remotely close idea of the correct FHA limits per county. I had one LO that couldn't close a streamline in 4 weeks with them beeause they couldn't lock his damn loan right, all of Denver is completely wrong, how does a company that incompetent exist? Oh yea raping the public on CC's....
I'm not ruining it for you. They actually just opened up a 2nd Corporate office w a 3 story parking garage in Ocala/Castleberry, FL and a new office in Midvale, Utah. They're actually hiring in this crazy volatile mkt. So I think they'll be able to handle the extra business they'll be getting when brokers get burned out on other lenders turn times, expired rate locks and 5 pg stip sheets. To any out of work AE's out there who have experience in A, A-, FHA/VA & Jumbo look em up
www.taylorbeandirect.com |
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GianniD
125 Posts |
Posted - 02/10/2008 : 08:47:29 AM
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quote:
Originally posted by rad
Then it got better. I drew docs myself, which was very, very cool. No down time whatsoever.
The only thing that scares me, quite frankly, is there are no funding conditions.
I am in the process of closing my 1st 3 loans with AmTrust. My processor has closed A LOT of loans with them, and has been urging me for months now to use them. I dont like the fact that they are sometimes .375 pt out of the market, but on the deals I have now, it is critical that they close on time as they are all purchase loans with only 20-25 days from offer to closing. With a referral based business, that .25-.375 will get earned back many times over if I can close w/ no BS.
I used MOAI for yrs, since probably summer of 01. Probably sent them 1000 loans, maybe more and had very few problems with scoring and clearing file myself(with a processor). Printing my own docs allows me to close loans quicker, sometimes it saves 2-3 days.
Hard to believe AmTrust will be much different, especially if they are 'WOW' loans.
I did have some post closing deficiency notices on loans I ran thru MOAI, but,many times, it was a missing page from a fax, or resend an appraisal, etc.
BTW, It ***** that Citi bought out Interfirst, because they are already screwing up. I tried Citi for 6-7 loans over the last month, and theyve been a nightmare. All VERY vanilla loans, high scores, low ratios, and strong LTV's. Their conditions sheet is very difficult to read, and their staff seems to all be pretty new at what they do.
And for those that use Provident, that experience is akin to 'catching yourself in your zipper'. EVERYONE that uses them has a nightmare story.
Their reps/contacts dont know all that much, and their mgrs are sphincters to the infinite degree. Havent yet met one who isnt condescending. Maybe thats just how they are, maybe they look down on the East Coast.
Ive caught 1 mgr lying to the owner of my company, saying I cursed out an UW(although I didnt have a file in UW with them at that time, or the week prior and I can provide the phone records for my office, cell, and home to prove I never called). This week, I emailed him a question on the file, and he chose to respond, and cc the owner. Its like he is a 3rd grade biatch telling the teacher. Guess Hopper is an appropriate name for someone with all the class of a public rest room toilet.
I'll never use Provident on a purchase, as you just dont know what might come up the day of closing with them, AND, they require the title agent to bsically fax the complete file in for their review. Who has time to sit around for 45 minutes on the last day of the month?? |
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GianniD
125 Posts |
Posted - 02/10/2008 : 08:58:50 AM
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quote:
Originally posted by 808
this is a little bit off the subject but another lender to consider if you want great rates w some strong YSP is Taylor, Bean & Whitaker.
Ive heard from a couple of very reliable sources that TBW sells their paper to PL. (One works on Wall St packaging MBS, the other runs a national brokerage.)
Makes sense to me, they both have the same stupid 'fax in most of the file so we can make sure the title agent knows what they are doing' condition.
I know TBW is in growth mode, pricing is good, I just cant forget what happened a while back when their turn times became 8-10 days. Their rep isnt exactly a card carrying MENSA member, OR, she is just extremely careless about reading and responding to emails. Virtually every time I ask her a question, she'll respond with a question that I had anticipated, and included in my original email. |
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Brianquigley
1772 Posts |
Posted - 02/10/2008 : 09:25:08 AM
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| Can someone please put me in touch with AM TRUST corporate, or a good, local Colorado rep>? |
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GianniD
125 Posts |
Posted - 02/10/2008 : 09:29:53 AM
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quote:
Originally posted by Brianquigley
Can someone please put me in touch with AM TRUST corporate, or a good, local Colorado rep>?
Website is amtrustgemstone.com
I know there is an 800 listed there, could be a link to local reps.
Here ya go: Colorado & Wyoming Azalea Bernier ph: 303.250.2929
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Brianquigley
1772 Posts |
Posted - 02/10/2008 : 09:46:37 AM
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| Gianni. Thank you. |
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GianniD
125 Posts |
Posted - 02/10/2008 : 11:11:37 AM
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quote:
Originally posted by luto199
Jusssst joking 808, I know they are expanding, but I hope turn times speed up soon.
Gianai, TBW does scan and upload your file, easy as can be. You can fax, but its a waste of everyone's time. Also, they Hold 90% of their paper according to their Servicing Disclosure borrowers sign at closing.
Im talking about at closing, not submitting file to UW.
TBW requires title agent to send in SIGNED note, mortgage, TIL, HUD, e-address form, etc. If I start going over docs with borrower, say, at 10 after, it might take me til half past or 25 mins or so to finish, then another 5 mins to go over and sign HUD. Title agent then has to fax these docs in for a closer to review, can take 10 mins with 40+ forms, and they then give you a funding number. If fax is slow, a busy last day of month etc, this could take as much as an hr. Happened to me in December. (As about 15% of my business last yr was because they had been a seller on a loan I have done in the past, taking care of the $$ at closing, and helping everyone get in and out in less than an hr is critical.)
Not only does TBW's closing docs requirement cause problems for title agent who has closings booked on the hr, it can inconvenience the seller, who might have a walk through scheduled shortly after their sale is completed.
There is a difference between selling their paper, and servicing it. Last I remember, they serviced about 93% of their 07 loans, it doesnt mean they shelve it though. |
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loanofficerxyz
75 Posts |
Posted - 02/10/2008 : 6:22:32 PM
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Do you have Amtrust's AE contact information?
quote:
Originally posted by 1003s.com
Who can beat Amtrust, on the banker side?
As I understand it, not only does their pricing rock,
they also, handle post closing issues real fast,
so, the credit line use costs, could run lower with deals
funded with Amtrust.
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calspach
339 Posts |
Posted - 02/11/2008 : 02:27:41 AM
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| Biggest issue with Provident is there level programs. If you lock a loan and it does not close they drop you down a pricing level. The next time it happens they suspend the broker for 90 days... |
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Pat
541 Posts |
Posted - 02/11/2008 : 04:38:41 AM
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Provident does have a tier program... they calculate your closings vs. your locked fallout. At 25% locked fallout (by loan $) they won't allow you to advance lock (lock before the file is in underwriting).
It's not at bad as it sounds unless your company has a habit of locking loans and not delivering them. |
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caveman
5 Posts |
Posted - 02/11/2008 : 1:47:24 PM
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With a due respect calspach, that is NOT there biggest issue.
More fun and games with Provident:
BROKER 2/11/2008 11:40:54 AM Resolution: Created
Mr. Pink's house is appraised at $670,000. The loan amount is $275,000. The appraisal has been approved for over a week, Mr. Pink's lock expires in 7 days, and most importantly, he has a closing scheduled for tomorrow. The condition asks for one listing or pending sale. The appraiser is currently in the field and I haven't heard back from him yet.
For an appraisal condition to suddenly appear less than 24 hours prior to closing is a surprise to say the least, and often difficult to react to in a quick manner.
For a 40% LTV loan closing in less than 24 hours, and the only remaining condition is to provide a listing or sale, is there any way to provide an exception while I am tracking down the appraiser. Please let me know if we can begin the doc process.
LENDER 2/11/2008 1:15:16 PM Resolution: Resolved
Unfortunately, we must adhere to the guideline change. We do apologize that a new condition had to be added in regards to the appraisal at this point. We are required to review all loans in status 60 to determine if the comparable's are acceptable. In this case, 1 current listing OR pending sale is required. I understand your frustration, but we have to proceed per the new requirements. Thanks for your understanding.
Again, the above is a mere snippet of the horrors Provident wil put you through. I cannot stress this enough. No amount of YSP will ever make up for the countless hours you will spend chasing down the most ridiculous of conditions, constantly, daily, without out stop, never ending, you will drive yourself NUTS working with this company.
I REPEAT: Provident Funding is where dreams go to die. |
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RGK2394
965 Posts |
Posted - 02/11/2008 : 1:54:49 PM
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Agreed- funded my one and only loan with Provident, pricing was only mildly better and the constant conditions were just unbearable for a 800 fico <80% LTV r/t. Unless they are pricing out 2+% better and the client is a 800+ fico 20% LTV with enough reserves to pay the loan in full, we will never deal with them ever again, my processor and good friend wanted to beat the sh*t out of me every time they asked for a new B.S. stip.
And then to top it off, the extra wait to actually get paid. Not worth it. |
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lucky1s
3271 Posts |
Posted - 02/11/2008 : 1:57:53 PM
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| I would rather make less money and have friends left when the deal was closed. |
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FLAmortgage
275 Posts |
Posted - 02/11/2008 : 1:58:08 PM
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| yep! that's Provident for you! |
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jkelly
56 Posts |
Posted - 02/11/2008 : 2:23:06 PM
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| amtrust rocks |
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