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Career and Education Opportunities for Loan Inspectors in Miami, Florida

For those living in the Miami, Florida area, there are many career and education opportunities for loan inspectors. About 19,120 people are currently employed as loan inspectors in Florida. By 2016, this is expected to grow by 19% to 22,760 people employed. This is better than 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 $15 per hour or $31,480 yearly on average in Florida. Nationally they average about $15 hourly or $32,470 per year. Earnings for loan inspectors are better than earnings in the general category of Clerical in Florida and better than general Clerical category earnings nationally.

There are ninety-eight schools of higher education in the Miami area, including one within twenty-five miles of Miami where you can get a degree to start your career as a loan inspector. Loan inspectors usually hold an Associate's, or other 2-year degree, so you can expect to spend about two years studying to be a loan inspector if you already have a high school diploma.


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 Miami 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.
  • Weighter. Weigh, measure, and check materials, supplies, and equipment for the purpose of keeping relevant records. Duties are primarily clerical by nature.


Miami Dade College - Miami, FL

Miami Dade College, 300 NE 2nd Ave., Miami, FL 33132-2297. Miami Dade College is a large college located in Miami, Florida. It is a public school with primarily 4-year or above programs and has 57,106 students. Miami Dade College has a less than one year program in Banking and Financial Support Services which graduated seventeen students 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.


Miami, Florida
Miami, Florida photo by Averette

Miami is located in Miami-Dade County, Florida. It has a population of over 413,201, which has grown by 14.0% in the past ten years. The cost of living index in Miami, 140, is far greater than the national average. New single-family homes in Miami cost $273,500 on average, which is near the state average. In 2008, thirty-seven new homes were built in Miami, down from seventy-three the previous year.

The three big industries for women in Miami are health care, accommodation and food services, and educational services. For men, it is construction, accommodation and food services, and administrative and support and waste management services. The average travel time to work is about 28 minutes. More than 16.2% of Miami residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 7.7%, is lower than the state average.

The unemployment rate in Miami is 12.5%, which is greater than Florida's average of 11.3%.

The percentage of Miami residents that are affiliated with a religious congregation, 39.6%, is less than both the national and state average. Church of Resurrection, Church of the Ascension and Church of the Incarnation are all churches located in Miami. The most prominent religious groups are the Catholic Church, the Southern Baptist Convention and the Seventh-Day Adventist Church.

Miami is home to the Edison West Little River Neighborhood Center and the Miamarina South Pier Light as well as Belle Meade Park and 54th Street Mini Park. Shopping malls in the area include Central Shopping Center, Northside Mall and Northside Shopping Center. Visitors to Miami can choose from AmeriSuites Miami / Kendall, Four Seasons Hotel Miami and Airways Airport Inn & Suites for temporary stays in the area.