mortgage loan originators

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Co-authored by Noah A. Finkel and Abad Lopez

The demise of bank loan underwriters’ exempt status has been greatly exaggerated—at least according to a recent Sixth Circuit decision upholding the dismissal of a putative collective action against Huntington Bank. The court disagreed with underwriters who alleged that they were improperly classified as exempt and thereby wrongfully denied overtime pay. Instead,…
Continue Reading Classifying a Loan Underwriter as Exempt Is a Risk Worth Taking, Says Sixth Circuit

sixth cicuit.jpgAuthored by Kyle Petersen

Last year, we reported on the defense verdict in the Henry v. Quicken Loans case, in which a Detroit jury found that mortgage loan officers were not sales employees with limited decision-making authority.  Instead, the jury found that the mortgage loan officers were subject to the FLSA’s administrative exemption and therefore not entitled to overtime.  Last…

Continue Reading It’s A Matter of Fact: Sixth Circuit Holds that the Primary Duty Determination is Indeed a Question of Fact Properly Put to the Jury and Affirms Employer Verdict in Henry v. Quicken Loans

Authored by Barry Miller

A Detroit jury has handed a major win to the defendant employer in an overtime case brought on behalf of mortgage loan officers, rejecting the plaintiffs’ argument that they were sales employees with limited decision-making authority.  As we recently reported, the Henry v. Quicken Loans case went to the jury on Monday, March 14, after more…

Continue Reading Jury Hands Total Victory to Quicken Loans in Mortgage Loan Officer Overtime Case

Authored by Barry Miller

Overtime class actions are now at epidemic proportions in the mortgage lending industry.  Dozens of lenders and brokers have been sued since the Department of Labor issued an Administrator’s Interpretation in March 2010 reversing the Department’s prior guidance regarding the application of the FLSA’s administrative exemption to mortgage loan originators (MLOs).  However, a number of MLO…

Continue Reading First Major Mortgage Loan Officer Overtime Case Headed to Jury