PORTLAND, OR. Portfolio Financial Servicing Company (“PFSC”) announced today that it has entered into a definitive agreement to act as Servicer for a life contingent structured settlement pool acquired via a recently established purchase facility. Terms of the agreement remain confidential.
PFSC has been a leading provider of structured settlement, lottery and annuity servicing since 2002. John Enyart, President of PFSC, commented, “We are pleased that PFSC was selected as the servicer for this life contingent settlement pool. The comprehensive servicing and backup servicing of structured settlements has been a core competency at PFSC for many years, and we look forward to providing our client with excellent service throughout this engagement.”
Under the new facility, PFSC will be responsible for substantially all life contingent structured settlement servicing functions including document certification and retention, funding, contract boarding, payment posting, collections, customer service, split-payment processing, mortality verification tracking, and investor reporting functions.
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.