PFSC has been selected as the document custodian, title custodian, or verification agent for many clients and their lenders across the country. PFSC is currently the custodian for portfolios valued in the billions of dollars, composed of hundreds of thousands of contract files and titles. Similarly, PFSC receives and certifies thousands of files each month in its capacity as verification agent.
PFSC has developed a proprietary custodian platform to efficiently and accurately provide these services. Using this technology, PFSC develops a client-specific template exhibiting the required documents to be reviewed and certified during the initial check-in process. As contract files or titles are received, PFSC’s Custodian Department reviews and certifies each file on-line. Any discrepancies are noted within PFSC’s custodian system and included in exception reporting. Contract documents are imaged and indexed into PFSC’s secure document imaging system, allowing the client to view and print contract file contents remotely via PFSC’s web-site. Contract files are then sent to secure off-site storage.
PFSC’s custodian technology also allows for the generation of client and lender-specific reports that itemize all inventory, lender assignment, and any deficiencies. Individual file records are also linked to Iron Mountain’s inventory management system. This record locator provides PFSC with the exact file location at Iron Mountain’s facility.