Mortgage Lenders Strikes Deal In Overtime Action

Law360, New York (May 11, 2010, 12:24 PM EDT) -- Mortgage Lenders of America LLC has settled a collective action brought by loan originators alleging the company failed to properly compensate them for overtime.

Judge Carlos Murguia of the U.S. District Court for the District of Kansas administratively closed the case Monday. A report filed with the court Friday said the two sides had reached a settlement, though no details were disclosed.

A lawyer for Mortgage Lenders said the deal was confidential, and would be filed under seal. A lawyer for the plaintiffs did not immediately...
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