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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, […] “Exposing Countrywide”

Countrywide is looking for employees and customers to send him “dirt” on Countrywide Home Loans, if you are interested. Feel free to also post your Countrywide Home Loans experiences below.   Have you been wronged by Countrywide?  Want to talk about?

List of Recent Mortgage Closures, Mergers and Layoffs

The Truth About Mortgage.Com in a List of Recent Mortgage Closures, Mergers and Layoffs provides a growing list of mortgage companies consolidating, laying off employees, sending out warnings, and going out of business in the current mortgage meltdown. According to the author, it has been reported that there have been more than 40,000 mortgage layoffs […]

Countrywide Financial Announces Massive Employee Layoffs

On September 8, 2007, the New York Times reported in Countrywide Plans To Cut Staff Deeply that Countrywide Financial, the nation’s largest mortgage lenders, said that it would be eliminating between 10,000 to 12,000 jobs, roughly 20% of its 60,000 workers. That would be the biggest round of layoffs in the housing industry. Are you […]