A final rule issued last week by the Department of Labor updating overtime regulations for white collar employees didn’t include many concessions called for by mortgage industry participants. The final rule sets the standard salary level for exempt executive, administrative, professional, outside sales, and computer employees, referred to as EAP employees, at the 40th percentile of weekly earnings of full-time salaried workers in the lowest-wage Census Region. The final rule effectively doubled the salary white collar workers must be paid to be exempt from receiving overtime pay for working more than 40 hours a week. The new standard will result...