PORTLAND, OR. Portfolio Financial Servicing Company (“PFSC”) announced today that it has entered into a definitive agreement to act as Backup and Successor Servicer for a leading small business lender who has obtained a new warehouse credit facility. PFSC has provided backup services to this client since 2010. Terms of the agreement remain confidential.
PFSC has been a leading provider of primary, backup, and successor servicing for commercial and consumer finance transactions since 1992. John Enyart, President of PFSC, commented, “Our client has grown substantially over the past four years, and we sincerely appreciate the opportunity to act as the exclusive backup servicer across multiple pools and credit facilities. PFSC’s scalable platform has enabled us to keep pace with this substantial growth, without interruption.”
Under the new facility, PFSC will perform data mapping, coding, development and ongoing data receipt and reconciliation functions for the benefit of the client and its warehouse lender. 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. 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.