Servicing FAQ

Loan Servicing

  1. How can I contact Provident Funding’s Servicing Department?
  2. How do I ask for a copy of a loan document?
  3. How do I change my name on my mortgage?
  4. How do I change my phone number or other contact information?
  5. Who can I contact to refinance my existing loan with Provident Funding?
  6. When is my payment due?
  7. Will I receive a monthly statement?
  8. When will I receive coupons?
  9. I’ve used my last coupon so how do I get another coupon book?
  10. What forms of payment does Provident accept?
  11. Can I make biweekly payments?
  12. My loan was sold to another company but I have already mailed my payment to you.
  13. What is the turn-around time once I've requested a payoff statement?
  14. What are the fees if I order a payoff statement
  15. How are interest charges calculated?
  16. How are Private Mortgage Insurance premiums (PMI) collected when I pay off my loan?
  17. What happens if I have a negative escrow balance at the time?
  18. What happens if I have accumulated late charges on my account?
  19. Should I continue to make my monthly payment when I know my loan is to be paid off?
  20. Will I be assessed a prepayment penalty?
  21. Is it possible to lower my monthly mortgage payment after applying a large sum of money to the principal of my loan?
  22. How do I make an extra payment towards principal?
  23. Do I (or my closing agent) need to verify the payoff figures on the day of closing?
  24. What happens if my bank returns my payment after the loan is paid off?
  25. How is my monthly escrow deposit calculated?
  26. How often does Provident Funding review my escrow account?
  27. What causes an increase in my monthly escrow payment?
  28. What happens if there is a "surplus" in my escrow account?
  29. What happens if there is a "shortage" of escrow funds?
  30. What information is on my escrow statement?
  31. How can I dispute an increase in my escrow payment?
  32. When will I receive my IRS form 1098/1099 from Provident Funding in the mail?
  33. What can I claim on my tax return?
  34. What is the website address for the IRS?
  35. What should I do with the tax bill I received?
  36. Why did I receive a bill from my taxing authority when Provident Funding is supposed to pay the bill for me?
  37. Why does the total tax payments reported by Provident Funding not match my tax bill(s)?
  38. My loan was transferred to or sold by Provident Funding, how do I obtain mortgage totals?
  39. What do I do if my home is damaged and I have received an insurance claim check with Provident Funding listed as a payee on the check?


1. How can I contact Provident Funding’s Servicing Department?
The fastest method for communicating with Provident Funding is by utilizing our Case Tracking System. This web based system enables Provident Funding to quickly answer your questions and resolve issues or problems with your account. Another benefit of using this method is that you have an efficient way to communicate your message and receive ours, while maintaining a record of your conversation for easy reference. You can access the Case Tracking System by logging into your web account at www.provident.com.

Contacting Customer Service by Phone
Customer Service Representatives are available at (800) 696-8199, from 5:00 AM to 5:00 PM PT Mon-Fri.

Contacting Customer Service by Mail

Contact us by mail at Provident Funding Associates, L.P., P.O. Box 5914 Santa Rosa, CA 95402-5914

2. How do I ask for a copy of a loan document?
When your loan closed, you received copies of your loan documents. Should any of your documents be misplaced or destroyed, Provident Funding can provide copies to you for the following fees:

  • Copy of Note: $20
  • Copy of Mortgage (Deed of Trust): $20
  • Copy of Settlement Statement: $20
  • Additional Fees for Faxing Documents at the Customer’s Request: $10

Fees are subject to change without notice. Additional fees may be assessed for other services not listed which would be disclosed at the time of order. To request one of the above items, please send your request and a check made payable to Provident Funding Associates, L.P. (please do not send cash) to: Customer Service P.O. Box 5914 Santa Rosa, CA 95402-5914.

3. How do I change my name on my mortgage?
If you have made a legal change to your name, Provident Funding needs to be notified. There are some requirements that may need to be met before we can change our records. You should contact our Customer Service Department before you send any documentation. Please use the web site to open a Case with a Customer Service Representative or call (800) 696-8199. The representative will pass your request on to a Specialist, who will send you a written notice of the appropriate requirements.

4. How do I change my phone number or other contact information?
Use the website to open a Case with a Customer Service Representative. Include your updated contact information. Provident Funding will use the information you provide to update our records.

5. Who can I contact to refinance my existing loan with Provident Funding?
If you are interested in refinancing your loan, please call Provident Funding’s Retail Department at (888) 547-4050.

6. When is my payment due?
Payments are due on the 1st of each month. Late fees are assessed after the 16th of the month or the following business day on any account still outstanding. Additionally, late notices are mailed to all delinquent borrowers. The Collections Department may also call you to check the status of past due payments. As a courtesy to new borrowers who may be unsure of their first payment date, a reminder notice is sent if payment has not been received by the 8th or 9th of the month.

7. Will I receive a monthly statement?
Provident Funding currently uses payment coupons for billing. While monthly statements are not provided, very detailed account information is available free of charge at www.provident.com . Our secure website contains much more information than might be made available in a monthly statement. We encourage you to create a username and password to closely monitor your account and take advantage of this information.

8. When will I receive payment coupons?
You will receive a Coupon book approximately two weeks after your loan funds. If you do not have an impound/escrow account, this book will contain 12 coupons. If your loan is an impounded/escrowed account you may receive less than 12 coupons. This is because escrow accounts are typically analyzed on an annual basis and the month is determined by the state in which your property is located. If there are changes to your property tax or homeowner’s insurance amounts, this will cause a change to your escrow payment. In the event of a payment change, a new coupon book will be ordered for you automatically. Provident Funding will always provide you a minimum of 25 days advance notice of any payment change.

9. I’ve used my last coupon so how do I get another coupon book?
Coupon books are mailed automatically on an annual basis; it is not necessary for you to request a new book. You may check on the status of your next coupon book order at www.provident.com or by contacting Customer Service.

10. What forms of payment does Provident accept?
Provident Funding offers four convenient ways to make monthly mortgage payments:

  1. Check or money order can be sent by mail.
  2. ACH service (automatic withdrawal from your bank account) is available by filling out the online form at www.provident.com or requesting a copy of the form from Customer Service.
  3. Payments via phone from your checking account may be transacted for a $7.50 fee by calling Provident Funding’s Easy Pay Line at (888) 593-2729.
  4. Payments may be made online at www.provident.com on a one time only basis for a $7.50 fee.

Please note that Provident Funding cannot accept credit card or biweekly payments at this time. Phone or online payments made by 3:00 PM PST will post same-day to your loan. Any payment made after 3:00 PM PST will be considered received and posted the following business day, excluding federal holidays.

11. Why can’t I make biweekly payments?
Provident Funding does not currently offer a biweekly payment program. Unless your loan includes a prepayment penalty, you are free to make additional payments for principal reduction together with any monthly payment. You are also free to make an extra payment once per year or you could divide your monthly payment by 12 and send that amount, plus your regular payment, every month. Upon receipt, these additional principal payments are applied towards reducing the balance of your loan immediately and the results in terms of interest savings will be similar to a biweekly payment program. Please note that third party companies may offer to save you interest by setting up biweekly mortgage payments. However, this service normally comes with both an enrollment fee and a monthly processing fee and should be agreed to only after careful consideration.

12. My loan was sold to another company but I have already mailed my payment to you.
If Provident Funding receives a payment from you that is due to another mortgage company, your check will automatically be endorsed and forwarded to the new mortgage company. In the event that your payment is applied at Provident Funding prior to the loan being sold, funds will be disbursed to the new mortgage company for any payments due to them. All payments are forwarded via overnight mail.

13. What is the turn-around time once I've requested a payoff statement?
You may print a payoff statement immediately, by logging into your www.provident.com web account and visiting the "Forms" link. payoff statement requests made via fax will be processed within 3 business days.

14. What are the fees if I order a payoff statement?
A $10.00 fee may be charged to your account if a third party requests a payoff statement on your behalf. A $10.00 fee may also be charged to your account if you request a payoff statement by fax. You may access a copy of your payoff statement for free by logging into your web account at www.provident.com. Your payoff statement will outline any additional fees associated with paying off and closing your loan account.

15. How are interest charges calculated?
Interest shown on the payoff statement is calculated to its expiration date. A per diem (per day) interest amount will be included, to be added to the payoff amount if the payoff is sent after the expiration date. If your loan is paid ahead, the payoff amount will be reduced by any interest not yet due. For example, if the payoff statement expiration date is September 1st and the account is paid through November 1st, the interest paid ahead will be subtracted from the required payoff amount. Upon receipt of the payoff amount, the actual interest charged includes interest up to but not including the date of receipt. Remember that interest is collected in arrears. For example, if the September 1st payment (which includes interest accrued from the month of August) has been made and your loan is paid in full on September 15th, interest will be due for the first fourteen days of September.

16. How are Private Mortgage Insurance premiums collected when I pay off my loan?
Any mortgage insurance premiums due on a mortgage loan by the expiration date of the payoff statement will be collected in the payoff amount.

17. What happens if I have a negative escrow balance at the time I pay off my loan?
Any escrow funds advanced by Provident Funding to pay your bills because there were insufficient funds in your escrow account will be collected at the time of payoff.

18. What happens if I have accumulated late charges on my account?
Any accumulated late charges will be added to the amount due. This includes late charges for any payments that are past due at the time of payoff.

19. Should I continue to make my monthly payment when I know my loan is to be paid off?
It is important that you continue to make your monthly payments until the day your loan payoff funds are received by Provident Funding. Failure to make a monthly payment is a default under the terms of your Promissory Note and may result in a negative report being made to the Credit Reporting Agencies. Any over payment of principal or interest included with the payoff amount sent to Provident Funding will be refunded to you within two weeks of the loan payoff.

20. Will I be assessed a prepayment penalty?
Some loans require that a prepayment fee be assessed if the loan is paid in full before a certain period of time. This is also referred to as a prepayment penalty. If your Mortgage Note includes a Prepayment Penalty clause, the fee will be calculated according to the specific terms in your Mortgage Note.

21. Is it possible to lower my monthly mortgage payment after applying a large sum of money to the principal of my loan?
Provident Funding cannot modify the payments on your existing fixed rate loan. However, though the payment amount will not change, your loan will amortize at a faster rate. In order to reduce your monthly payment, you must refinance for the new balance on the loan. If your loan is an adjustable rate loan, the monthly payment will be adjusted periodically in accordance with the terms of the Promissory Note to fully amortize the remaining balance within the remaining term. Your monthly mortgage payment may be reduced after a principal reduction but that reduction may be offset by an increase in your interest rate.

22. How do I make an extra payment to principal?
You can make an extra payment to principal of up to $10,000.00 with one of your regular monthly payments. Any extra payment to principal needs to be clearly stated on your payment coupon. Payments to principal that exceed $10,000.00 require special handling and should be sent to: Provident Funding Assoc., P.O. Box 513738 Los Angeles, CA 90051-3738.

23. Do I (or my closing agent) need to verify the payoff figures on the day of closing?
Payoff figures are always subject to change due to new fee assessment, payment activity, and escrow account activity. If payoff funds are received after the expiration date of the payoff statement, the interest amount due will be different. You or your agent should request for updated payoff statement to confirm that no changes have occurred.

24. What happens if my bank returns my payment after the loan is paid off?
The payoff statement may be based upon payments that were received but have not yet cleared your bank. If a payment is returned NSF (non-sufficient funds) after your loan is paid off, Provident Funding reserves the right to adjust the payoff figures. Interest will continue to accrue on the loan until Provident Funding has received all amounts due.

25. How is my monthly escrow deposit calculated?
Your escrow deposit is equal to 1/12th of the total bills Provident Funding anticipates paying on your behalf during the next year, including any shortage amount as permitted by federal and/or state law and your mortgage contract. This deposit is based on the way your mortgage terms are written.

26. How often does Provident Funding review my impound/escrow account?
Provident Funding will review your impound/escrow account annually. The month during which your impound/escrow account is reviewed is determined by the state in which your property is located.

27. What causes an increase in my monthly impound/escrow payment?
An increase in your monthly escrow payment is caused by an increase in property taxes, an increase in the homeowner or flood insurance premium, or a shortage of funds. Changes in the tax amount can occur because of increased property values or higher budget demands by the jurisdictions who receive property tax dollars, and/or additional or increased levies. Changes in the homeowner or flood insurance amount can occur because of an increase in the annual premium charged by your insurance provider or as a result of a change to the terms of your policy.

28. What happens if there is a "surplus" in my impound/escrow account?
If your impound/escrow account balance is greater than the balance required at the time of your analysis, your impound/escrow account has a surplus of funds. If your loan account is not delinquent, Provident Funding will automatically send you a check refunding the surplus to you, unless it is less than $50.00. In this case the funds will remain in your impound/escrow account and your payment will be adjusted accordingly.

29. What happens if there is a "shortage" of impound/escrow funds?
If your impound/escrow account balance is less than the minimum balance required at the time of your analysis, your escrow account has a shortage of funds. YOUR OPTIONS ARE:

1) Repay the total shortage immediately. This reduces your monthly payment by 1/12th of the amount repaid. If you choose to repay the shortage in full, please mail a check with the special coupon provided in your Annual Escrow Account Disclosure Statement to:

Provident Funding

P.O. Box 513738
Los Angeles, CA 90051-3738
Attention: Customer Service


Or 2) Repay the shortage over the next 12 months. This option is interest-free but increases your monthly payment. You do not need to contact us to choose this option; the 12 month repayment option is selected for you by default and is included in the new monthly payment shown on your new payment coupons.

30. What information is on my impound/escrow statement?
Information on your Annual Escrow Account Disclosure Statement includes historical activity; the expenses paid for you during the last year by Provident Funding and a projection of the expenses to be paid for the coming year.

31. How can I dispute an increase in my impound/escrow payment?
In the event you believe the calculations are incorrect or you have access to more current estimates from the taxing authority or your insurance provider, please contact our Customer ServiceDepartment immediately by using the web site to open a Case with a Customer Service Representative or by calling 800-696-8199. Provident Funding will use your documented information to recalculate your account, possibly resulting in a lower impound/escrow monthly payment amount. IMPORTANT: Only the taxing authority or your insurance company can change the amount of the bill paid on your behalf.

32. When will I receive the IRS form 1098/1099 from Provident Funding in the mail?
Your IRS form 1098/1099 will be mailed no later than January 31st of the new year. Please allow 2 weeks for mail delivery. If you do not wish to wait for the mailed copy of your IRS form 1098/1099, you may print a copy immediately at www.provident.com by visiting the "Forms" link.

33. What can I claim on my tax return?
Provident Funding cannot advise you regarding the preparation of your income tax returns. Your personal tax advisor should answer any question about the preparation of your annual tax returns.

34. What is the website address for the IRS?
To visit the website of the Internal Revenue Service you may use the address www.irs.gov

35. What should I do with the tax bill I received?
If your loan is not escrowed for tax payment by Provident Funding, you should pay the amount due to the taxing authority listed on your bill. If your loan is escrowed and the tax bill you received has not been paid, please write your loan number on the bill and fax it directly to our Tax Department at 707-547-4081, or mail it to: Provident Funding Associates, L.P., P.O. Box 5914, Santa Rosa, CA 95402.

36. Why did I receive a bill from my taxing authority when Provident Funding is supposed to pay the bill for me?
More than likely, this bill is an assessment or supplemental bill. Some taxing authorities will send this type of bill because an additional amount is due that was not assessed at the beginning of the current tax cycle. You may wish to contact your local taxing authority for clarification.

37. Why does the total tax payment reported by Provident not match my tax bill(s)?
Many times tax payments made by mortgage companies are paid in installments rather than in one lump sum. It is also possible that two bills were paid in the same calendar year if the due date is near January 1st each year. Provident Funding does not report tax disbursements paid from your escrow account to the IRS. For more information on tax disbursements made from your account on your behalf, please look at your account transactions on the "History" page of the www.provident.com website.

38. My loan was transferred to or sold by Provident; how do I obtain mortgage totals?
Provident Funding will mail your individual IRS form 1098/1099 by January 31st. Each Mortgage Company, including Provident Funding, will provide information for the period of time your loan was serviced. Mortgage Companies are not required to report to you or the IRS if the total interest paid on your account was less than $600. However, it is Provident Funding policy to send you an IRS form 1098/1099 if you paid any amount of interest during the year.

39. What do I do if my home is damaged and I have received an insurance claim check with Provident Funding listed as a payee on the check?
Provident is listed as a payee due to the financial interest we have in your home. When you receive your insurance check, you should send it to Provident Funding for processing.

If your check (or the total of the checks you have received) is less than $15,000.00*, you should send the insurance check (called a loss draft) to Provident, along with ALL pages of your insurance adjuster’s report, which itemizes the damage to the home. Please include your loan number with your paperwork and the best telephone number where you may be reached. Your check will be endorsed and returned to you within 72 hours of receipt to begin your repairs.

If your check (or the total of the checks you have received) is more than $15,000.00*, you should send the insurance check (called a loss draft) to Provident, with endorsements from ALL payees other than Provident. Send ALL pages of your insurance adjuster’s report, which itemizes the damage to the home, and include your loan number with your paperwork and the best telephone number where you may be reached.

Our investors require that we monitor all claims over $15,000.00 to ensure that the home is restored to its original or better condition. The loss draft will be deposited, and funds will be released to you (and/or your contractor) after the draft clears the bank in five business days.

The first release of funds will be $15,000.00 or one-third of the money, whichever is greater. A property inspection is required to release the balance of the funds. A loss draft specialist will call you to discuss your specific claim after your check has been received.


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