PORTLAND, OR. Portfolio Financial Servicing Company (“PFSC”) announced today that it has entered into a definitive agreement to act as Servicer and Verification Agent on behalf of an established structured settlement purchaser.
PFSC has provided servicing and verification agent/custodial duties for the purchaser for almost a decade. This new engagement was prompted by the purchaser’s acquisition of a sizable and new term credit facility. John Enyart, President of PFSC, commented, “Client satisfaction and retention are critical components of our strategy and philosophy. Our decade long relationship with our client and their selection of PFSC as servicer and verification agent for their new credit facility is an indicator of PFSC’s customer centric focus and value proposition.”
Under the new facility, PFSC will perform file receipt and verification duties in its capacity as verification agent, and will perform contract boarding, payment posting, split-payment processing and treasury functions, as well as collections, customer service, and financial/managerial reporting in its capacity as servicer, consistent with the terms of the Servicing Agreement.
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.