Career and Education Opportunities for Loan Inspectors in Aurora, Colorado
Many educational and employment opportunities exist for loan inspectors in the Aurora, Colorado area. The national trend for loan inspectors sees this job pool growing by about 4.3% over the next eight years. Loan inspectors generally 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.
Loan inspectors earn approximately $16 per hour or $35,180 per year on average in Colorado. Nationally they average about $15 hourly or $32,470 yearly. Earnings for loan inspectors are better than earnings in the general category of Clerical in Colorado and better than general Clerical category earnings nationally.
There are sixty-two schools of higher education in the Aurora area, including one within twenty-five miles of Aurora where you can get a degree to start your career 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 Aurora 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.
- Broker Assistant. Perform clerical duties involving the purchase or sale of securities. Duties include writing orders for stock purchases and sales, computing transfer taxes, verifying stock transactions, accepting and delivering securities, tracking stock price fluctuations, computing equity, and keeping records of daily transactions and holdings.
- Clerk. Compile data, compute fees and charges, and prepare invoices for billing purposes. Duties include computing costs and calculating rates for goods, services, and shipment of goods; posting data; and keeping other relevant records. May involve use of computer or typewriter, calculator, and adding and bookkeeping machines.
- Payroll Bookkeeper. Compile and post employee time and payroll data. May compute employees' time worked, production, and commission. May compute and post wages and deductions. May prepare paychecks.
- 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.
- Statistical Clerk. Compile and compute data according to statistical formulas for use in statistical studies. May perform actuarial computations and compile charts and graphs for use by actuaries. Includes actuarial clerks.
EDUCATIONAL OPPORTUNITIES: Loan Inspector Training
Arapahoe Community College - Littleton, CO
Arapahoe Community College, 5900 S. Santa Fe Dr., Littleton, CO 80160-9002. Arapahoe Community College is a medium sized college located in Littleton, Colorado. It is a public school with primarily 2-year programs and has 7,088 students. Arapahoe Community College has a one to two year and an associate's degree program in Banking and Financial Support Services which graduated three and three students respectively in 2008.
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: Aurora, Colorado
Aurora is located in Adams County, Colorado. It has a population of over 319,057, which has grown by 15.4% in the past ten years. The cost of living index in Aurora, 97, is near the national average. New single-family homes in Aurora are priced at $238,200 on average, which is above the state average. In 2008, five hundred ten new homes were built in Aurora, down from 1,202 the previous year.
The three big industries for women in Aurora are health care, finance and insurance, and educational services. For men, it is construction, accommodation and food services, and professional, scientific, and technical services. The average commute to work is about 27 minutes. More than 24.6% of Aurora residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 6.6%, is lower than the state average.
The unemployment rate in Aurora is 8.2%, which is greater than Colorado's average of 6.6%.
The percentage of Aurora residents that are affiliated with a religious congregation, 30.4%, is less than both the national and state average. The most common religious groups are the Catholic Church, the LDS (Mormon) Church and the Lutheran Church.
Aurora is home to the Victory Grange and the Magee as well as Montview Park and Del Mar Park. Visitors to Aurora can choose from Corporate Housing Solutions, Comfort Inn-Airport and Denver Airport Marriott at Gateway Park for temporary stays in the area.