Mortgage Loan Officers Not Exempt Under FLSA: DOL

Law360, New York (March 24, 2010, 6:45 PM EDT) -- Mortgage loan officers do not qualify as administrative employees exempt from minimum wage and overtime rules under the Fair Labor Standards Act, the U.S. Department of Labor said Wednesday, reversing its earlier stance.

The DOL's Wage and Hour Division issued an administrator's interpretation to provide guidance on the frequently litigated question of the status of mortgage loan officers under the FLSA, concluding that they are not exempt under Section 13(a)(1).

The department said it based the opinion on a careful analysis of the applicable statutory and...
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