Portfolio Financial Servicing Company Selected As Hot Backup and Successor Servicer for a Consumer Margin Loan Portfolio

PORTLAND, OR. Portfolio Financial Servicing Company (“PFSC”) announced today that it has been engaged to provide hot backup servicing and, if appointed, successor servicing duties, for a consumer margin loan portfolio. PFSC will be replacing the client’s existing backup servicer and will provide a more robust and comprehensive backup and successor servicing capability.

Commenting on this new engagement, John Enyart, President of PFSC, commented, “Our client has an excellent reputation and a leader within the markets it serves. This transaction represents a first-time relationship between PFSC and our client and we are pleased that PFSC was selected to fulfill the specific and unique requirements imposed upon the backup and successor servicer.”

Under the new facility, PFSC will perform data mapping, coding, development and daily receipt and boarding of portfolio data for the benefit of the client and its capital providers. As provided for in the transaction documents, PFSC would assume successor servicing duties, including collection of consumer notes and liquidation of underlying collateral and inventory, 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