What would a "Loan Closing &amp; Servicing Analyst" do exactly?
I have an interview in a couple days for a CRE Mortgage Loan Closing and Servicing Analyst. I think this would involve some underwriting and monitoring, but would like to hear from someone in lending/banking/insurance who could elaborate. Anyone know?
[{"id": "cufp7gh", "text": "I would imagine a lot of admin work at the end of the day, with some account mgmt.", "replies": [], "depth": 1}, {"id": "cufwz18", "text": "You're interviewing for a job but you don't know what it is?", "replies": [], "depth": 1}, {"id": "cug4ns5", "text": "Servicers take care of the day to day activities that are related to owning a mortgage: Collecting payments, collecting financial reporting, likely some slight analysis of said financial reporting identifying underperforming loans, monitoring and readjusting escrows, reviewing and approving leases.\n\nClosing has a few connotations, a closer could be entirely on the servicer's side - this person simply onboards the loan into the servicing system. On the origination side the closer is a pretty critical role in the the process of closing a loan. They are responsible for the nitty gritty details that everyone forgets until the last second - making sure the due diligence checklist is 100% complete, running and reviewing title reports, getting signature pages from everyone into escrow, reviewing and approving escrow closing statements (where the money is going to be distributed).\n\nYou will get experience that will be valuable to both the lender's side and the operator side, hopefully you will become adept at reading loan docs. Its a great starting place, but from my experience there is very little analysis involved - so keep that skill sharp - go take a real estate finance class, take modeling classes, and exit to mortgage originations, asset management, or the finance side of an operator in 1-2 years.", "replies": [], "depth": 1}]