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Loan Servicing

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  • 16-02-2005 2:54am
    #1
    gpsstudent
    Closed Accounts Posts: 32 ✭


    What exactly is loan servicing?

    I have an interview with a company that deals with corporate loans mostly I think, and am hoping to find out information on them!

    The branch in question is refered to as a Servicing branch while the other is referred to as their Lending and Related Products branch

    Any one any ideas :confused:


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  • Options
    #2
    gpsstudent
    Closed Accounts Posts: 32 ✭gpsstudent


    Any ideas


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    #3
    Enii
    Closed Accounts Posts: 1,546 ✭✭✭Enii


    Is it the loan repayments section as opposed to the lending department? Just a guess...... Ring up the dept. and ask what they do.


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    #4
    Chipboard
    Closed Accounts Posts: 428 ✭✭Chipboard


    gpsstudent wrote:
    The branch in question is refered to as a Servicing branch while the other is referred to as their Lending and Related Products branch

    I would say what your dealing with is a branch of a financial institution rather than a specialised unit where the deal with lending and the sale of other financial products, savings and investments etc.

    For example Ulster Bank or AIB have a branch network, consisting of probably 2 or 3 hundred branches dotted all over the country but if you wanted a loan (other than a home mortgage or a personal or car loan) you might have to go to a Business Centre to meet with a Lender who specialises in sanctioning loans. The Business Centre therefore is their "Lending and Related Products branch" and the "Servicing branch" provides day to day customer service for borrowers and depositers.


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