Provident is probably the worse lender with whom I've ever had the misfortune of dealing. We are stuck with them after our last refi, a refi, btw, that was no bargain either with Provident's supposed "high standards" for their "great rates". POPPYCOCK! We were put thru heck on that one!
We've now had 2 incidents over the course of 2 years that I find very troubling concerning alleged late payments & exorbitant late fees. The first time in December 2010, after mailing the payment a bit early due to the holiday season, it arrived and was posted a day late. In no way would they give us the benefit of doubt FOR ONE DAY when we have NO IDEA when the payment really arrived even after contacting Craig Pica, the head honcho, who, quite naturally had nothing to do with the nasty response we received. Again, the same thing has occurred in July 2012. Our payment ALLEGEDLY arrived TWELVE days after mailing and, LLS, after making an electronic payment the day they called to say we never paid and telling us to set up a bill pay with our bank to avoid the fees they charge to even make a payment online (7.50 and 15.00), we ended up double paying when our mailed payment mysteriously appeared the same day as their call! Well, altho they agreed to return the 2nd payment after I READ THEM THE RIOT ACT, they jerked me around for days with faxes and excuses and then finally saying there was NO WAY to let me know the refunded payment was mailed; that I would just have to keep calling if I wanted to find out! Well, turns out there's an email notification but the reps apparently don't know this!
Anyway, that aside, I am CONVINCED that this whole late payment business is a scam! So beware! I know I can't prove it but I just know something smells rotten in Denmark! So, take my advice and DO NOT MAIL YOUR PAYMENTS if you can help it. I'm in for $256 for 2 late fees! The reps tell you like they know for a fact that the "PAYMENTS ARE PROCESSED IMMEDIATELY UPON RECEIPT" but I found out that the payments are received AT A DIFFERENT LOCATION!!! How ANYONE could know when they are received and how long after that they are processed is barely possible. All I do know is that either, a. they are lying or, b. they are incompetent. EITHER WAY THEY ARE WRONG!
Finally, if you do refi, GO ELSEWHERE! Don't be fooled by the "lowest rates" bating nonsense. I'd rather pay a quarter percent more or so and get better customer service. Provident is not a mortgage company per se but a greedy financier that got into the mortgage biz as an aside and has zero interest in meeting your mortgage needs after they rope you in. Again, BUYER BEWARE!