PORTLAND, OR. Portfolio Financial Servicing Company (“PFSC”) announced today that it has entered into a definitive multi-year agreement with an originator of consumer powersports 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 powersports space. After utilizing a different servicing strategy, our client determined that PFSC was the preferred partner to transition loan servicing duties to. 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 conversion of the legacy loan portfolio, automated loan boarding for new originations, invoicing, ACH and credit card processing, payment posting, modification processing, early and late stage collections, customer service, repossession and asset remarketing, and financial and managerial reporting. Servicing duties are expected to commence in mid-December 2016.
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 focused services such as document custodianship and verification agent services, multi-state vehicle titling and multi-state sales/use and personal property tax reporting and compliance. For more information, visit www.pfsc.com.