PORTLAND, OR. Portfolio Financial Servicing Company (“PFSC”) announced today that it has entered into a definitive agreement to act as Servicer for a new $100 million structured settlement 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, “PFSC is pleased to have been selected as the Servicer for this new purchase facility. The comprehensive servicing of structured settlements has been a core competency at PFSC for many years and we are always appreciative of being given the opportunity to offer our services to the dynamic structured settlement marketplace”.
Under the new facility, PFSC will be responsible for substantially all structured settlement boarding, funding, document certification and retention, payment posting, collections, customer service, split-payment processing 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