First Associates Combines Operations with PFSC
First Associates is pleased to announce that they have closed an investment round with Stone Point Capital and are combining operations with Portfolio Financial Servicing Company (PFSC).
“We are excited to combine PFSC’s expertise in the commercial loan and lease servicing space with our consumer expertise. This combination of our two companies is a big win for the industry,” said David Johnson, CEO.
As key part of this investment, First Associates and PFSC, a current Stone Point investment company, will combine operations to form a single world-class financial service company. This new entity will be an industry leader specializing in loan and lease servicing, capital markets support and customer service support with an exceptional focus on technology and compliance.
First Associates and PFSC will work together over the next 4-6 months to combine operations and develop their long-term growth strategy. With the integration, they will be able to offer the entire spectrum of servicing solutions including:
- Consumer Loan and Lease Servicing
- Commercial Loan and Lease Servicing
- Customer Service Support
- Backup Servicing and other Capital Markets Support
- 3rd-Party Collections Services via their Activate Financial subsidiary