Overtime Pay for Mortgage Underwriters
Like many other employees throughout the United States, numerous employees in the mortgage industry are owed overtime pay for the hours which they work over 40. Unfortunately, employers in the mortgage industry commonly misclassify mortgage underwriters as exempt from receiving overtime. While the FLSA’s administrative exemption for overtime pay does exempt certain employees from being legally allowed to receive overtime pay, this exemption does not necessarily apply to all mortgage underwriters, causing them to be misclassified.
As a result of being unfairly classified as exempt, many mortgage underwriters may not receive the actual pay for which they have worked. In such a situation, however, eligible employees can take legal action to pursue the full amount of pay which they are owed from their employer.
Exemptions from Overtime Pay
In order for a mortgage underwriter to qualify for the FLSA’s exemption for overtime pay, their work activities must meet the following criteria:
- Must be directly related to management policies or general business operations
- Must customarily and regularly exercise discretion and independent judgment
If either of these criteria is not met, a mortgage underwriter cannot legally be denied overtime pay.
If you or someone you know is a mortgage underwriter who believes that you may not have received overtime pay for which you may be entitled, discuss your situation with Jason Knutson of Habush Habush & Rottier S.C. today. Call 608-255-6663 to find out how you may be able to obtain the wages you have rightfully earned by taking legal action.