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 loans to act as primary servicer for a nationwide 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 lending platform and is quickly becoming a market leader in the small business lending space. After initially servicing their loan portfolio internally, our client concluded that PFSC’s product offering afforded them the cost savings, flexibility, and scalability they were unable to achieve internally. 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 2014.
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.