PORTLAND, OR. Portfolio Financial Servicing Company (“PFSC”) announced today that it has entered into a definitive agreement with a lessor of equipment for energy efficiency projects to act as Primary Servicer for a U.S.-based commercial equipment finance portfolio. Terms of the servicing agreement remain confidential.
Commenting on this new engagement, John Enyart, President of PFSC, stated, “Our client is focused on driving capital into the commercial energy efficiency marketplace, a venue with substantial growth prospects. This client was seeking a service provider who could offer a robust and customized servicing solution, and PFSC was able to meet these needs. Marrying our client’s expertise in financing energy efficiency projects with PFSC’s portfolio servicing expertise will offer this marketplace a compelling value proposition.”
In its capacity as Primary Servicer, PFSC will be responsible for substantially all servicing functions, including contract boarding, invoicing and ACH processing, payment posting, modification and renewal processing, sales/use and personal property tax billing and reporting, insurance tracking and insurance claims processing, UCC administration, collections and problem account remediation, customer service, and financial and managerial reporting. Servicing is expected to commence in October 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.