Mortgage Broker Overtime
The Wall Street Journal Law Blog wrote in “Mortgage Brokers: Give Us Our Overtime!” that the US Department of Labor filed an overtime suit on behalf of mortgage brokers in federal court alleging that a mortgage broker violated the Fair Labor Standards Act by paying its employees overtime below federal standards.
According to the WSJ, the FLSA, enacted in 1938, allows employees to earn time-and-half if they work more than 40 hours per-week. Although the law exempts certain salaried employees and managers, brokers, who are often paid on a commission basis, often qualify for federal protection.
If you were employed by a mortgage broker (i.e., loan officer, loan processor, loan consultant, loan broker, loan representative, account executive, loan specialist, loan originator, etc.) and you believe that your mortgage broker has not paid you all of the overtime pay, hourly wages, salary and other benefits that you believe your mortgage broker owes you, tell us your story!
-Report Unpaid Mortgage Broker Overtime & Wages-
