Whether or not mortgage loan officers are entitled to overtime pay is an unsettled issue under the Fair Labor Standards Act. At one point, mortgage loan officers were deemed exempt “administrative” workers. However, a 2010 interpretation of the US Department of Labor suggested that this exemption did not apply, an interpretation that has since been challenged in court and is now pending before the US Supreme Court in the case of Mortgage Bankers Association v. Harris, No. 12-5246 (D.C. Cir. July 2, 2013).
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Supreme Court set to decide if mortgage loan officers are entitled to overtime pay
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