PORTLAND, OR. Portfolio Financial Servicing Company (“PFSC”), a third party servicer of commercial and consumer leases, loans and annuity-type contracts, announced today that it has been appointed as the custodian for a commercial loan portfolio. Terms of the agreement remain confidential.
Under the agreement, PFSC will provide its client, and the client’s capital provider, with comprehensive document custodian services, including document receipt, document certification, document tracking and safekeeping. Given the unique nature of the commercial loan portfolio and the expected size of each loan transaction, it is expected that PFSC will be responsible for receiving, certifying and securely storing a substantial number of complex loan documents for each loan disbursement.
Commenting on this new engagement, John Enyart, President of PFSC, stated, “We have maintained an excellent relationship with this client for many years, and appreciate being given the opportunity to act as custodian for their new loan fund. PFSC is accustomed to providing its custodian services across many product types with varying complexity. We look forward to providing superior services and support to our client.”
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. 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