PORTLAND, OR. Portfolio Financial Servicing Company (“PFSC”) announced today that it has entered into a definitive agreement with a captive finance subsidiary of an international lift and material handling manufacturer to act as Backup Servicer for a commercial equipment lease term securitization. Terms of the agreement remain confidential.
PFSC has been a leading provider of primary, backup, and successor servicing for commercial and consumer equipment finance transactions since 1992. John Enyart, President of PFSC, commented, “We are pleased that at the conclusion of the RFP process, our client selected PFSC as their backup servicer for their term securitization. This is our first opportunity to work with this client, and we look forward to providing them and the other transaction counterparties with exceptional services during the term of this facility.”
In accordance with the transaction documents, PFSC will perform data mapping, coding, development and ongoing data receipt and reconciliation functions for the benefit of the investors and issuer. As provided for in the transaction documents, PFSC would assume successor servicing duties should certain substantive events occur.
About Portfolio Financial Servicing Company
Portfolio Financial Servicing Company (“PFSC”) is a third party private label servicer of commercial and consumer leases, loans and annuity type transactions (inclusive of structured settlements, lottery prize, and royalty-based receivables). Since 1992, PFSC has serviced billions in asset value for a diverse group of clients across the U.S. and Canada. PFSC provides a comprehensive suite of services including primary servicing, successor servicing, and backup servicing. PFSC also provides certain a la carte services such as document custodianship, multi-state vehicle titling and multi-state sales/use and personal property tax reporting and compliance. For more information, visit www.pfsc.com.