I am a Mortgage Broker located in PA and I have been doing business with the same company for over 15 years in the Philadelphia Area. I deal with Provident Funding and they are a very good lender. With my experience with Provident … they are a no nonsense mortgage company. It is a sign of the times.

Did you Broker explain that to you … I doubt it. Provident tells you up front that they need more than 3 comps. They also do their own field review. You really have to have a solid Appraisal. A lot of the mortgages that went into default were based on bad appraisals. Can’t blame Provident for being overly cautious.

Everytime I deal with Provident I explain to my customers that they are a no nonsense company. Any slight imperfection could cost you the lock in rate. They process/approve their loans in a timely fashion. You have to fit their mold. If you don’t … they move on. I am surprised that you were dealing with Provident over an Appraisal issue for so long. They give answers very quickly. Faster than any mortgage company around. Their model should be used in every mortgage company.

Your Broker was suppose to guide you through the mortgage maze. If he/she does not explain to you the pitfalls … what do you have?

I have picked up deals from Wells Fargo mistakes and Chase etc. Every deal has it’s quirks. People should shop around for the best rate and the most qualified person to help their situation. Just don’t look at fees and points. Also, look for that person to be at settlement … after the transaction … will he/she be around to answer all your questions?

I meet face to face with every new/old customer. Don’t understand why people can deal with someone over the phone only.

Overall, I am glad to see you got what you were looking for in a mortgage.

Take Care.