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Career and Education Opportunities for Loan Inspectors in Hartford, Connecticut

Many educational and employment opportunities exist for loan inspectors in the Hartford, Connecticut area. About 1,820 people are currently employed as loan inspectors in Connecticut. By 2016, this is expected to shrink 3% to 1,770 people employed. This is not quite as good as the nation as a whole, where employment opportunities for loan inspectors are expected to grow by about 4.3%. 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 $17 hourly or $36,320 yearly on average in Connecticut. 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 Connecticut and better than general Clerical category earnings nationally.

There are seven schools within twenty-five miles of Hartford where you can study to be a loan inspector, among sixty-two schools of higher education total in the Hartford area. Given that the most common education level for loan inspectors is an Associate's, or other 2-year degree, you can expect to spend about two years studying to be a loan inspector if you already have a high school diploma.

CAREER DESCRIPTION: Loan Inspector

Loan Inspector video from the State of New Jersey Dept. of Labor and Workforce Development

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 Hartford 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.
  • Correspondence Clerk. Compose letters in reply to requests for merchandise, damage claims, credit and other information, delinquent accounts, or unsatisfactory services. Duties may include gathering data to formulate reply and typing correspondence.
  • Courtroom Clerk. Perform clerical duties in court of law; prepare docket of cases to be called; secure information for judges; and contact witnesses, attorneys, and litigants to obtain information for court.
  • File Clerk. File correspondence, cards, and other records in alphabetical or numerical order or according to the filing system used. Locate and remove material from file when requested.
  • Insurance Claims Processor. Obtain information from insured or designated persons for purpose of settling claim with insurance carrier.
  • Insurance Processing Clerk. Process applications for, changes to, and cancellation of insurance policies. Duties include reviewing insurance applications to ensure that all questions have been answered, compiling data on insurance policy changes, changing policy records to conform to insured party's specifications, compiling data on lapsed insurance policies to determine automatic reinstatement according to company policies, canceling insurance policies as requested by agents, and verifying the accuracy of insurance company records.
  • License Clerk. Issue licenses or permits to qualified applicants. Obtain necessary information; record data; advise applicants on requirements; collect fees; and issue licenses. May conduct oral, written, or performance testing.
  • Municipal Clerk. Draft agendas and bylaws for town or city council; record minutes of council meetings; answer official correspondence; keep fiscal records and accounts; and prepare reports on civic needs.
  • Office Clerk. Perform duties too varied and diverse to be classified in any specific office clerical occupation, requiring limited knowledge of office management systems and procedures. Clerical duties may be assigned in accordance with the office procedures of individual establishments and may include a combination of answering telephones, bookkeeping, typing or word processing, stenography, office machine operation, and filing.
  • Order Clerk. Receive and process incoming orders for materials, merchandise, or services such as repairs, installations, or rental of facilities. Duties include informing customers of receipt, prices, and delays; preparing contracts; and handling complaints.
  • 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.
  • Procurement Clerk. Compile information and records to draw up purchase orders for procurement of materials and services.
  • Receptionist. Answer inquiries and obtain information for general public, customers, and other interested parties. Provide information regarding activities conducted at establishment; location of departments, offices, and employees within organization.
  • 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.
  • 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.
  • Weighter. Weigh, measure, and check materials, supplies, and equipment for the purpose of keeping relevant records. Duties are primarily clerical by nature.

EDUCATIONAL OPPORTUNITIES: Loan Inspector Training

Asnuntuck Community College - Enfield, CT

Asnuntuck Community College, 170 Elm St, Enfield, CT 06082. Asnuntuck Community College is a small college located in Enfield, Connecticut. It is a public school with primarily 2-year programs and has 1,769 students. Asnuntuck Community College has an associate's degree program in Banking and Financial Support Services.

Naugatuck Valley Community College - Waterbury, CT

Naugatuck Valley Community College, 750 Chase Parkway, Waterbury, CT 06708-3089. Naugatuck Valley Community College is a medium sized college located in Waterbury, Connecticut. It is a public school with primarily 2-year programs and has 5,880 students. Naugatuck Valley Community College has a less than one year and an associate's degree program in Banking and Financial Support Services which graduated zero and seven students respectively in 2008.

Tunxis Community College - Farmington, CT

Tunxis Community College, Rts 6 and 177, Farmington, CT 06032-3187. Tunxis Community College is a small college located in Farmington, Connecticut. It is a public school with primarily 2-year programs and has 4,328 students. Tunxis Community College has an associate's degree program in Banking and Financial Support Services.

Capital Community College - Hartford, CT

Capital Community College, 950 Main Street, Hartford, CT 06103. Capital Community College is a small college located in Hartford, Connecticut. It is a public school with primarily 2-year programs and has 3,989 students. Capital Community College has an associate's degree program in Banking and Financial Support Services.

Northwestern Connecticut Community College - Winsted, CT

Northwestern Connecticut Community College, Park Pl E, Winsted, CT 06098. Northwestern Connecticut Community College is a small college located in Winsted, Connecticut. It is a public school with primarily 2-year programs and has 1,721 students. Northwestern Connecticut Community College has an associate's degree program in Banking and Financial Support Services.

Middlesex Community College - Middletown, CT

Middlesex Community College, 100 Training Hill Rd, Middletown, CT 06457-4829. Middlesex Community College is a small college located in Middletown, Connecticut. It is a public school with primarily 2-year programs and has 2,624 students. Middlesex Community College has an associate's degree program in Banking and Financial Support Services.

Manchester Community College - Manchester, CT

Manchester Community College, Great Path, Manchester, CT 06045-1046. Manchester Community College is a medium sized college located in Manchester, Connecticut. It is a public school with primarily 2-year programs and has 6,649 students. Manchester Community College has an associate's degree program in Banking and Financial Support Services.

CERTIFICATIONS

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: Hartford, Connecticut

Hartford, Connecticut
Hartford, Connecticut photo by Contimm

Hartford is situated in Hartford County, Connecticut. It has a population of over 124,062, which has grown by 2.0% in the past ten years. The cost of living index in Hartford, 104, is above the national average. New single-family homes in Hartford cost $82,500 on average, which is far less than the state average. In 2008, eight new homes were constructed in Hartford, down from twelve the previous year.

The three big industries for women in Hartford are health care, finance and insurance, and educational services. For men, it is administrative and support and waste management services, construction, and accommodation and food services. The average commute to work is about 24 minutes. More than 12.4% of Hartford residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 5.2%, is lower than the state average.

The unemployment rate in Hartford is 14.4%, which is greater than Connecticut's average of 8.3%.

The percentage of Hartford residents that are affiliated with a religious congregation, 57.4%, is more than both the national and state average. Our Lady of Sorrows Church, All Saints Orthodox Church and Sacred Heart Church are all churches located in Hartford. The largest religious groups are the Catholic Church, the United Church of Christ and the Episcopal Church.

Hartford is home to the Albany Avenue Branch Hartford Public Library and the North Meadows Industrial Park as well as Little Hollywood Historic District and West End North Historic District. Shopping malls in the area include Park Plaza Shopping Center, Pavillion at State House Shopping Center and Civic Center Mall Shopping Center.