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Career and Education Opportunities for Loan Inspectors in Lewiston, Maine

Loan inspector career and educational opportunities abound in Lewiston, Maine. Currently, 830 people work as loan inspectors in Maine. This is expected to shrink by 9% to 760 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. 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 $14 per hour or $29,330 yearly on average in Maine. Nationally they average about $15 per hour or $32,470 annually. Earnings for loan inspectors are better than earnings in the general category of Clerical in Maine and better than general Clerical category earnings nationally.

There are ten schools of higher education in the Lewiston area, including one within twenty-five miles of Lewiston 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 it will take about two years to learn 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 Lewiston 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.
  • Library Clerk. Compile records, sort and shelve books, and issue and receive library materials such as pictures, cards, slides and microfilm. Locate library materials for loan and replace material in shelving area, stacks, or files according to identification number and title. Register patrons to permit them to borrow books, periodicals, and other library materials.
  • 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

Saint Joseph's College of Maine - Standish, ME

Saint Joseph's College of Maine, 278 Whites Bridge Rd, Standish, ME 04084-5236. Saint Joseph's College of Maine is a small college located in Standish, Maine. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,771 students and an admission rate of 78%. Saint Joseph's College of Maine has a bachelor's degree program in Banking and Financial Support Services which graduated one student in 2008.

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: Lewiston, Maine

Lewiston, Maine
Lewiston, Maine photo by Jonrouellette

Lewiston is located in Androscoggin County, Maine. It has a population of over 35,131, which has shrunk by 1.6% in the past ten years. The cost of living index in Lewiston, 93, is below the national average. New single-family homes in Lewiston are valued at $166,000 on average, which is below the state average. In 2008, thirty-two new homes were constructed in Lewiston, up from twenty-five the previous year.

The three big industries for women in Lewiston are health care, educational services, and finance and insurance. For men, it is construction, educational services, and accommodation and food services. The average travel time to work is about 19 minutes. More than 12.6% of Lewiston residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 4.0%, is lower than the state average.

The unemployment rate in Lewiston is 8.5%, which is greater than Maine's average of 7.6%. About 15.5% of Lewiston's residents are below the poverty line, which is worse than the state average.

The percentage of Lewiston residents that are affiliated with a religious congregation, 49.8%, is less than the national average but more than the state average. Holy Cross Catholic Church, Spirit of Fire Evangelistic Church and Amazing Grace Mission are some of the churches located in Lewiston. The most common religious groups are the Catholic Church, the American Baptist Churches in the USA and the United Methodist Church.

Lewiston is home to the Lewiston City Hall and the Stanton Museum as well as Thorncrag Bird Sanctuary and Elliot Little League Ball Fields. Shopping centers in the area include Shaws Plaza Center Shopping Center, North Wood Park Shopping Center and The Market Place Shopping Center. Visitors to Lewiston can choose from Motel 6, Maine Motel And Cabins and Dudley's for temporary stays in the area.