Default Servicing and the Concept of Psychological Equity (Executive Essay‪)‬

Default servicing is a niche that has truly come into its own as the delinquency crisis in America has grown. It has been a rapid maturation process, not without bumps along the way, as is expected when pretty much anything comes to maturity--whether it's people or businesses. In its modern form, default servicing has become a necessary adjunct to the traditional servicing model, bringing an entirely different set of skills to bear on a very difficult problem. Among the things that make the specialty of default servicing work are the alignment of compensation scenarios, the generous application of time and empathy, and the concept of "psychological equity."