Portfolio Financial Servicing Company (“PFSC”) announced that it has entered into a definitive agreement to act as Backup and Successor Servicer for an unsecured consumer installment loan portfolio.

Commenting on this new engagement, John Enyart, President of PFSC, commented, “Our Client has a seasoned origination team and an effective delivery method that will allow for competitively priced and structured loans to be offered to consumers nationwide. PFSC appreciates being given the opportunity to work with our Client and their investor under this new credit facility”.

As backup servicer, PFSC will perform data mapping, coding, development and ongoing data receipt and reconciliation functions for the benefit of the parties. As provided for in the transaction documents, PFSC would assume successor servicing duties should certain substantive events occur.

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.