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Volume 2014 - Number 46

December 4, 2014

SCOTUS Hears Oral Arguments in Overtime Cases, While Another Disparate Impact Case Approaches

This week, the U.S. Supreme Court heard oral arguments in two consolidated cases on whether the overtime provisions in the Fair Labor Standards Act apply to mortgage loan officers – and the narrower question of whether federal agencies have the authority to make regulatory changes without using the “notice and comment” rulemaking process. Both cases involve the Mortgage Bankers Association as the respondent. The U.S. Department of Labor argued...

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In 2016, what have you been paying your retail residential loan officers, on average, as a commission?

25 to 50 basis points per loan
51 to 75 bps
76 to 100 bps
101 to 150 bps
More than 150 bps
We’re a call center lender and don’t disclose that data point.

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