United States: Mortgage Loan Officers Are Not Exempt Employees Per The DOL And The Supreme Court Says That Is Okay
The legal ping-pong match between the Department of Labor (DOL) and the Mortgage Bankers Association (MBA) over whether mortgage loan officers are eligible for overtime appears to be at an end. The Supreme Court recently issued its opinion in Perez v. Mortgage Bankers Association, holding that the DOL’s amendment of its interpretive rules to provide that mortgage loan officers do not qualify for the administrative exemption—despite the fact that the DOL did not go […]