Loan Officers Slap Prospect Mortgage With Wage Suit

Law360, New York (October 20, 2010, 5:17 PM EDT) -- Three former Prospect Mortgage LLC employees have launched a putative class action that accuses the residential mortgage lender of misclassifying its loan officers and loan originators as exempt from overtime pay and minimum wage.

California residents Elizabeth Sliger, Carol Dion and Scott Avila claim that their former employer willfully violated the Fair Labor Standards Act and California labor laws by paying them and other similarly situated employees on a commission-only basis, according to a complaint filed Monday in the U.S. District Court for the Eastern District...
To view the full article, register now.