PORTLAND, OR. Portfolio Financial Servicing Company (“PFSC”) announced today that is has been appointed Custodian and Bailee under the terms of a Vehicle Title Custodial Agreement on behalf of a commercial fleet vehicle rental company. Terms of the Custodial Agreement remain confidential.
In accordance with the Custodial Agreement, PFSC will provide its client, and the client’s lender with comprehensive title custodian services, including title receipt, title verification and certification, title tracking and safekeeping, and title releases.
Commenting on this new engagement, John Enyart, President of PFSC, stated, “The growth of our custodial services has been significant, with PFSC now managing approximately 200,000 files and titles across dozens of custodial facilities. Our appointment as custodian for this commercial fleet vehicle portfolio is reflective of PFSC’s value proposition and the quality of service we provide to our clients. We look forward to working with both our client and their lender on this transaction.”
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.