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 servicer for a new lottery prize receivable purchase facility. Terms of the agreement remain confidential.
Under the agreement, PFSC will provide its client with comprehensive portfolio servicing which shall include document review and certification, contract booking, payment posting and cash reconciliation work, federal and state tax refund tracking, treasury management, collection and customer service support, and investor reporting.
Commenting on this new engagement, John Enyart, President of PFSC, stated, “We have enjoyed an excellent relationship with both the originator and purchaser participating in this lottery facility for many years. We are pleased that PFSC has been selected to provide these important services for this sizable purchase facility.”
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.