Mortgage loan officers remain entitled to overtime pay following the Supreme Court's ruling earlier this week in Perez v. Mortgage Bankers Association. In 2010, the U.S. Labor Department ruled that mortgage loan officers were not exempt from overtime pay requirements, which a trade group, the Mortgage Bankers Association, challenged in this lawsuit. The trade group argued that the Labor Department had not following proper procedures in issuing the ruling that mortgage loan officers were not exempt from overtime pay requirements. So the issue in the Court regarded arcane issues of administrative law and agency action.
There is much coverage of the case, which is an all-too-rare win for employees against corporate interests in the Supreme Court: Supreme Court Conservatives Grudgingly Allow Labor Department to Change Its Mind; Big Win for Regulators at Supreme Court.
This is the latest development in ongoing litigation by loan officers to get paid the overtime they've earned: Loan Officer Seeks Unpaid Overtime . The Supreme Court's decision also offers close to a definitive answer to Is a Loan Officer Exempt from Overtime Pay Requirements?
Lexington, Kentucky overtime lawyer Robert Abell helps individuals and employees recover the overtime they've earned but not been paid; contact him 859-254-7076.