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Federal Court Agrees with DOL: Mortgage Loan Officers are Not Exempt

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The U.S. Department of Labor's recent guidance on the exempt status of mortgage loan officers has survived a federal court challenge by the Mortgage Bankers Association. The dispute began in March 2010, when the DOL declared that mortgage loan officers are not exempt from the minimum wage and overtime requirements of the Fair Labor Standards Act (FLSA). Reversing and withdrawing two prior opinion letters on the subject, the DOL stated in an administrator's interpretation that employees who perform the typical duties of a mortgage loan officer do not qualify as administrative employees exempt from overtime under the FLSA.


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Published In: Labor & Employment Law Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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