The Mortgage Bankers Association and other industry groups are strongly urging the Department of Labor to reconsider a proposed rule updating overtime regulations that currently exclude mortgage loan officers and certain categories of employees from overtime compensation. Officials reiterated the MBA’s position, which it clearly spelled out in a joint letter with other financial services trade groups in September last year objecting to the DOL’s proposed rulemaking regarding overtime exemptions for executive, administrative, professional, outside sales and computer employees. Among other things, the MBA, American Bankers Association, Independent Community Bankers of America, Financial Services Roundtable and The Clearing House cited...