PORTLAND, OR. Portfolio Financial Servicing Company (“PFSC”) announced today that it has entered into a definitive agreement with an originator and purchaser of commercial finance transactions to act as primary servicer for a U.S.-based commercial lease and loan portfolio. Terms of the servicing agreement remain confidential.
Commenting on this new engagement, John Enyart, President of PFSC, stated, “This lease and loan portfolio will be comprised of large and sophisticated equipment and working capital credit facilities offered to investment grade and near investment grade credits. PFSC has been managing such transactions for many years and we are pleased that we have been selected as the servicer of this important program.”
In its capacity as primary servicer, PFSC will be responsible for substantially all servicing functions, including contract boarding, invoicing and ACH processing, payment and disbursal posting, modification and renewal processing, sales/use and personal property tax billing and reporting, insurance tracking and insurance claims processing, vehicle titling, UCC administration, collections, and daily financial and managerial reporting. Servicing is expected to commence within thirty days.
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.