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Career and Education Opportunities for Loan Inspectors in Lincoln, Nebraska

Loan inspector career and educational opportunities abound in Lincoln, Nebraska. There are currently 1,490 jobs for loan inspectors in Nebraska and this is projected to grow 9% to 1,630 jobs by 2016. This is better than 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.

Loan inspectors earn about $14 hourly or $30,010 per year on average in Nebraska and about $15 per hour or $32,470 yearly on average nationally. Incomes for loan inspectors are better than in the overall category of Clerical in Nebraska, and better than the overall Clerical category nationally.

There is one school within twenty-five miles of Lincoln where you can study to be a loan inspector, among twenty-five schools of higher education total in the Lincoln area. Loan inspectors usually hold an Associate's, or other 2-year degree, so 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

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 Lincoln 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.

EDUCATIONAL OPPORTUNITIES: Loan Inspector Training

University of Nebraska at Omaha - Omaha, NE

University of Nebraska at Omaha, 6001 Dodge St, Omaha, NE 68182-0225. University of Nebraska at Omaha is a large university located in Omaha, Nebraska. It is a public school with primarily 4-year or above programs. It has 14,213 students and an admission rate of 84%. University of Nebraska at Omaha has a bachelor'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: Lincoln, Nebraska

Lincoln, Nebraska
Lincoln, Nebraska photo by Stack

Lincoln is situated in Lancaster County, Nebraska. It has a population of over 251,624, which has grown by 11.5% in the past ten years. The cost of living index in Lincoln, 80, is well below the national average. New single-family homes in Lincoln cost $170,100 on average, which is above the state average. In 2008, five hundred thirty-nine new homes were constructed in Lincoln, down from eight hundred twenty-nine the previous year.

The three most popular industries for women in Lincoln are health care, educational services, and finance and insurance. For men, it is construction, educational services, and public administration. The average commute to work is about 17 minutes. More than 33.3% of Lincoln residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 11.2%, is higher than the state average.

The unemployment rate in Lincoln is 4.1%, which is less than Nebraska's average of 4.5%.

The percentage of Lincoln residents that are affiliated with a religious congregation, 45.4%, is less than both the national and state average. Saint John Baptist Church, Calvary Baptist Church and Calvary Lutheran Church are some of the churches located in Lincoln. The most common religious groups are the Catholic Church, the United Methodist Church and the Lutheran Church.

Lincoln is home to the Cedars Home and the AGP Grain Cooperative Elevator as well as Abel Stadium and 40th and Highway 2 Park. Shopping malls in the area include Gateway Mall, Sutter Place Mall and Edgewood Shopping Center. Visitors to Lincoln can choose from Comfort Suites, Ramada Limited North and Quality Inn Airport for temporary stays in the area.