PORTLAND, OR. Portfolio Financial Servicing Company (“PFSC”) announced today that a marketplace lender has appointed PFSC as its servicer for a franchise finance loan portfolio. Terms of the Servicing Agreement remain confidential.
John Enyart, President of PFSC, stated, “Portfolio set-up and legacy portfolio conversion activities are complete and PFSC commenced servicing at the beginning of August. We believe PFSC’s decades of experience servicing commercial loans, including franchise finance loans, makes PFSC an ideal partner. We appreciate the confidence our client has placed in our servicing capabilities and we look forward to meeting, if not exceeding, our client’s servicing expectations.”
In accordance with the Servicing Agreement, PFSC shall be responsible for conversion of the legacy portfolio, onboarding of newly funded loans, and the ongoing servicing and administration of such loans. Services include ACH processing and payment posting, customer service, early and late stage collections, payoff processing, collateral and insurance tracking, and financial and managerial reporting.
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.