MBA Scores Another Court Victory in Mortgage Loan Officer Overtime Case, New DOL Rulemaking Likely
October 10, 2013
The Mortgage Bankers Association last week won affirmation of its July victory over the Department of Labor in the trade groups appeal of a government policy that declared mortgage loan officers did not qualify under the administrative exemption to overtime pay. On Oct. 2, the U.S. Court of Appeals for the District of Columbia refused to grant a full-court review of its decision exactly three months earlier that sided with the MBA on how the DOL imposed overtime compensation requirements under the Fair Labor Standards Act. The MBA filed...