The overtime pay laws for a mortgage broker can be quite complex. There are multiple factors that go into determining whether a particular Mortgage Broker is entitled to these benefits. In addition the state laws in which you work may also complicate the issue. Because of this, it is best to consult an experienced attorney who can advise you on your case.
According to the Fair Labor Standards Act (FLSA), courts will consider all of the following factors in deciding whether a Mortgage Broker is entitled to overtime pay: amount of compensation; pay structure (hourly wage or salary); the employer’s production requirements; whether the employer conducts some portion of its business as a direct lender; whether the Mortgage Broker works as an “inside” or “outside” salesperson; the exact nature of the employer’s business; and the percentage of time the Mortgage Broker spends performing other job duties.
For more information on the overtime pay laws for mortgage brokers contact our law firm today at (855) 754-2795. We will discuss your situation and determine if you have a claim. If you are owed unpaid wages, we will represent you under our No Fee Promise, which means there are never any legal fees or costs unless you receive a settlement.