PORTLAND, OR. Portfolio Financial Servicing Company (“PFSC”) announced today that it has entered into a definitive multi-year agreement with an originator of small business working capital loans to act as primary servicer for the originator’s commercial loan portfolio. Terms of the servicing agreement remain confidential.
Commenting on this new engagement, John Enyart, President of PFSC, stated, “Our client has developed a proprietary small business working capital platform and will soon become a market leader in the small business lending space. PFSC has extensive experience servicing small business loans and we are pleased to be able to put together a servicing solution that will allow our client quick entry to market and a scalable and cost effective servicing solution. We appreciate our client’s vote of confidence and we look forward to implementing an outstanding servicing solution.”
In its capacity as primary servicer, PFSC will be responsible for substantially all servicing functions, including loan boarding, 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 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.