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 contract booking, payment posting and cash reconciliation work, federal and state tax refund tracking, treasury management, collection and customer service support, investor reporting, and 1099 issuance.
Commenting on this new engagement, John Enyart, President of PFSC, stated, “We have enjoyed an excellent relationship with this client for many years, having provided our services across a variety of product types. The appointment of PFSC as the servicer for this new lottery facility is a testament to the strength of our relationship and our proven ability to provide high quality service in a cost-advantaged way”.
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