Career and Education Opportunities for Loan Inspectors in Ontario, California
Many educational and employment opportunities exist for loan inspectors in the Ontario, California area. Currently, 39,600 people work as loan inspectors in California. This is expected to shrink by 6% to 37,300 people by 2016. This is not quite as good as the national trend for loan inspectors, which sees this job pool growing by about 4.3% over the next eight years. In general, loan inspectors interview loan applicants to elicit information; investigate applicants' backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to appraisal department.
A person working as a loan inspector can expect to earn about $17 per hour or $37,310 yearly on average in California and about $15 hourly or $32,470 per year on average in the U.S. as a whole. Compared with people working in the overall category of Clerical, people working as loan inspectors in California earn more. They earn more than people working in the overall category of Clerical nationally.
The Ontario area is home to twenty-two schools of higher education, including one within twenty-five miles of Ontario where you can get a degree as a loan inspector. The most common level of education for loan inspectors is an Associate's, or other 2-year degree. You can expect to spend about two years training to become a loan inspector if you already have a high school diploma.
CAREER DESCRIPTION: Loan Inspector
In general, loan inspectors interview loan applicants to elicit information; investigate applicants' backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to appraisal department. They also review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.
Loan inspectors verify and examine data and precision of loan application and closing documents. They also answer questions and advise customers regarding loans and transactions. Equally important, loan inspectors have to calculate and correct errors on interest and closing costs, using computers or calculators. They are often called upon to assemble and compile documents for loan closings, such as title abstracts and tax receipts. They are expected to ready and type loan applications and checks, using computers. Finally, loan inspectors file and maintain loan archives.
Every day, loan inspectors are expected to be able to articulate ideas and problems. They need to listen to and understand others in meetings.
It is important for loan inspectors to accept payment on accounts. They are often called upon to contact credit bureaus and other sources so as to check applicants' credit and personal references. They also interview loan applicants so as to obtain personal and financial data, and to help in completing applications. They are sometimes expected to check value of customer collateral to be held as loan security. Somewhat less frequently, loan inspectors are also expected to establish credit limits and grant extensions of credit on overdue accounts.
They also have to be able to record applications for loan and credit and disbursements of funds, using computers and inspect customer accounts in order to establish whether payments are made on time and that other loan terms are being followed. And finally, they sometimes have to answer questions and advise customers regarding loans and transactions.
Like many other jobs, loan inspectors must be reliable and be thorough and dependable.
Similar jobs with educational opportunities in Ontario include:
- Bank Teller. Receive and pay out money. Keep records of money and negotiable instruments involved in a financial institution's various transactions.
- Bookkeeper. Compute, classify, and record numerical data to keep financial records complete. Perform any combination of routine calculating, posting, and verifying duties to obtain primary financial data for use in maintaining accounting records. May also check the accuracy of figures, calculations, and postings pertaining to business transactions recorded by other workers.
- Secretary. Perform routine clerical and administrative functions such as drafting correspondence, scheduling appointments, organizing and maintaining paper and electronic files, or providing information to callers.
- Store Clerk. Receive, store, and issue sales floor merchandise. Stock shelves, racks, and tables with merchandise and arrange merchandise displays to attract customers. May periodically take physical count of stock or check and mark merchandise.
EDUCATIONAL OPPORTUNITIES: Loan Inspector Training
Chaffey College - Rancho Cucamonga, CA
Chaffey College, 5885 Haven Ave, Rancho Cucamonga, CA 91737-3002. Chaffey College is a large college located in Rancho Cucamonga, California. It is a public school with primarily 2-year programs and has 20,486 students. Chaffey College has a two to four year program in Banking and Financial Support Services.
Certified Forensic Interviewer: The objective of this certification program is to create comprehensive, universally accepted professional standards combined with an objective measure of an interviewer's knowledge of those standards.
For more information, see the Center for Interviewer Standards and Assessment Ltd. website.
LOCATION INFORMATION: Ontario, California
Ontario is situated in San Bernardino County, California. It has a population of over 171,691, which has grown by 8.7% over the last ten years. The cost of living index in Ontario, 127, is far greater than the national average. New single-family homes in Ontario are priced at $164,100 on average, which is far less than the state average. In 2008, eight new homes were constructed in Ontario, down from three hundred seven the previous year.
The three most popular industries for women in Ontario are health care, educational services, and accommodation and food services. For men, it is construction, administrative and support and waste management services, and accommodation and food services. The average commute to work is about 31 minutes. More than 10.5% of Ontario residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 2.7%, is lower than the state average.
The unemployment rate in Ontario is 14.9%, which is greater than California's average of 12.3%.
The percentage of Ontario residents that are affiliated with a religious congregation, 42.0%, is less than both the national and state average. Kingdom Hall of Jehovahs Witnesses, Country Church of Ontario and Grace Missionary Baptist Church are all churches located in Ontario. The most prominent religious groups are the Catholic Church, the Southern Baptist Convention and the LDS (Mormon) Church.
Ontario is home to the Ontario Motor Speedway and the West End Multi-Service Center as well as Del Rancho Park and Unity Park. Shopping malls in the area include Galvin Park Shopping Center, Vineyard Freeway Shopping Center and Ontario Vineyard Marketplace Shopping Center. Visitors to Ontario can choose from Best Western Ontario, Best Western Ontario Airport and Amerisuites Ontario Mills for temporary stays in the area.