Countrywide Comes Under Fire In Overtime Suit

Law360, New York (October 2, 2007, 12:00 AM EDT) -- A former loan specialist has targeted Countrywide Home Loans Inc. in a collective action that alleges the lender failed to pay overtime compensation to its hourly workers.

Countrywide, the largest mortgage lender in the United States, was hit with the suit Monday in the U.S. District Court for the Southern District of Florida, and is accused of depriving loan specialists, loan processors and administrative employees of overtime payments for the last three years.

The suit claims that this group of nonexempt employees was paid a monthly...
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