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Home » Store » News » DOL’s Rule Effectively Excludes Loan Officers from Overtime Pay

DOL’s Rule Effectively Excludes Loan Officers from Overtime Pay

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The Department of Labor has added a new section to controversial overtime pay rules clarifying whether certain mortgage industry employees, such as loan officers, qualify for overtime benefits. The new section establishes criteria that identify loan officers as being exempt from overtime pay – a claim long held by the mortgage industry and the subject of a number of class actions that have added to the uncertainty.
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