PORTLAND, OR. Portfolio Financial Servicing Company (“PFSC”) announced today that it has entered into a definitive multi-year agreement with an originator of consumer home improvement loans to act as primary servicer for a nationwide consumer loan portfolio. Terms of the servicing agreement remain confidential.
Commenting on this new engagement, John Enyart, President of PFSC, stated, “Our client has a long and outstanding record of building strong vendor relationships and deploying capital in the consumer home improvement loan space. After an extensive due diligence period, our client determined that PFSC was the preferred partner to support the launch of their U.S. operations. We appreciate the confidence our client has exhibited in PFSC and we look forward to meeting and exceeding their expectations.”
In its capacity as primary servicer, PFSC will be responsible for substantially all servicing functions, including automated loan boarding, invoicing and ACH processing, payment posting, modification processing, early and late stage collections and customer service, and financial and managerial reporting. Servicing duties are expected to commence in mid-January 2015.
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.