PORTLAND, OR. Portfolio Financial Servicing Company (“PFSC”) announced today that it has been engaged to provide both Servicing and Verification Agent services for a growing portfolio of life contingent structured settlements. Terms of the engagement remain confidential.
Commenting on this new engagement, John Enyart, President of PFSC stated, “The comprehensive servicing and backup servicing of structured settlements, including life contingent settlements, is a core competency at PFSC. After several months of due diligence, our client concluded that PFSC was their preferred servicing partner. We expect servicing operations to commence in November 2015, and we look forward to working closely and collaboratively with our client.”
In accordance with the Agreement, PFSC will be responsible for receipt, certification and secure storage of life contingent structured settlement documents in its capacity as Verification Agent. In its capacity as Servicer, PFSC shall be responsible for substantially all life contingent structured settlement servicing functions including contract boarding, payment posting, collections, customer service, split-payment processing, mortality verification tracking, and investor reporting functions.
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.