PORTLAND, OR. Portfolio Financial Servicing Company (“PFSC”) announced today that it has been engaged to provide backup servicing and, if appointed, successor servicing duties, for a consumer installment loan portfolio. Terms of the Backup and Successor Servicing Agreement remain confidential.
John Enyart, President of PFSC, commented, “We are pleased with PFSC’s appointment as backup servicer for this new consumer loan facility. Our Canadian business is healthy and continues to grow and we sincerely appreciate the confidence our client and the lender have placed in PFSC’s loan servicing capabilities. Implementation is well underway and we expect to be fully operational in the coming weeks.”
Under the new facility, PFSC will perform data mapping, coding, development and ongoing data receipt and reconciliation functions for the benefit of the client and lender. 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.