In the structured finance world, there’s a quiet hero most folks overlook: the Backup Servicer. Until... they’re needed.In the latest episode of the Consumer Credit Matters Podcast, I sit down with Louis Geibel and Juliellen DeLuca from Vervent, one of the industry’s leading backup servicers. We go deep on a role that rarely makes headlines but becomes absolutely critical when the primary servicer falters. Think bankruptcies, fraud, or just plain old mismanagement.With cracks forming in several consumer asset classes—subprime auto, unsecured personal loans, even credit cards—this isn’t a theoretical exercise. Backup servicers are being called into action with increasing frequency.What actually happens after the default trigger is pulled? Who’s really prepared to step in and keep the payments flowing to bondholders? And what makes some “BUS” providers better than others?