Administrative Exemption Does Not Apply To Mortgage Loan Officers

by on
in Office Management

The Wage and Hour Division of the Department of Labor (DOL) recently issued Administrator's Interpretation No. 2010-01 stating that employees who perform the typical duties of a home mortgage loan officer are not exempt administrative employees when their primary duty is routine sales, which is not directly related to the management or general business operations of their employer or their employer's customers.  Thus, they are entitled to receive minimum wage and overtime under the Fair Labor Standards Act (FLSA).

 

The DOL examined what it found to be the typical duties of a home mortgage loan officer:

  • receive internal leads and contact potential customers or receive contacts from customers generated by direct mail or other marketing activity;

  • collect required financial information from customers they contact or who contact them, including information about income, employment history, assets, investments, hom...(register to read more)

To read the rest of this article you must first register with your email address.

Email Address:

Related Articles...

    No matches

Leave a Comment