Offit Kurman Attorney Daniella Casseres Quoted in National Mortgage News
Mortgage industry officials sought to reassure lenders this week about their recent Supreme Court defeat.
The ruling in Perez v. MBA does notnecessarily mean that mortgage originators need to pay their loan officers minimum wage and overtime, the officials said.
Granted, the court upheld a change in Labor Department rules that said loan officers are covered by the Fair Labor Standards Act. The change meant that loan officers were no longer covered by the so-called administrative exemption and are thus entitled to those payments.
About Daniella Casseres
Daniella Casseres focuses her practice on laws and regulations governing mortgage lenders, mortgage brokers, financial institutions and consumer finance companies.
She also works closely with the firm’s affiliate company, Strategic Compliance Partners. She advises these clients on state and federal compliance laws and regulations including, TILA, RESPA, FHA, SAFE Act, FCRA, GLBA, Privacy Act, and BSA requirements.