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As Delinquencies Creep Up, Default Specialists Get More Phone Calls.
A slowing economy may equal boom times for firms that specialize in default management services.
Just ask Duke Olrich, president and CEO of DRI Management Systems. His firm has seen a dramatic increase in calls as mortgage delinquency concerns heat up. Currently, the firm has 12 clients using its Default Recovery System.
"We'll probably double that by this time next year," Mr. Olrich predicts.
"We're getting three times the phone calls requesting information compared to a year ago. We see a tremendous increase in interest."
The state of the economy, particularly in California, is a key reason for the increased attention to default management tools, he said.
"Most of the folks we talk to say they are starting to feel it, but they anticipate feeling it more in the next year."
DRI recently has invested in a client/server upgrade of its Default Recovery System, making it more scaleable for larger default departments.
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