With a 'normal' engine failure, our company SOP advise us to make an overweight landing. No rush so we land after completing all the checks etc. in the holding near the airfield. Why land overweight? Because you've just lost redundancy, with just 1 operative engine remaining (B737). Same with all other faults/failures, for example if you've just got 1 hydraulic/electrical source remaining: land nearest suitable airport. Boeing has written this in the chapter 'Checklist introduction'.