PORTLAND, OR. Portfolio Financial Servicing Company (“PFSC”) announced today that it has been engaged to provide backup servicing and, if appointed, successor servicing duties, for a commercial loan portfolio comprised of loans to solar and renewable energy developers. Terms of the Backup and Successor Servicing Agreement remain confidential.
Commenting on this new engagement, John Enyart, President of PFSC, commented, “We are pleased that our client selected PFSC as their backup and successor servicing partner. PFSC’s long and successful history providing both primary and backup servicing makes PFSC an ideal choice within the markets we serve. This transaction represents a first-time relationship between PFSC and the client and we look forward to meeting and exceeding their expectations.”
Under the new facility, PFSC will perform data mapping, coding, development and ongoing data receipt and reconciliation functions for the benefit of the client. As provided for in the transaction documents, PFSC would assume successor servicing duties should certain substantive events occur.
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.