Washington Mutual Inc., Seattle, is being sued in U.S. District Court in Brooklyn, N.Y., by three former employees alleging that the mortgage banker violated the federal Fair Labor Standards Act by not paying them the minimum wage and overtime.The three plaintiffs, Dewone Westerfield of Grand Rapids, Mich., Charlotte Machado of Trussville, Ala., and Patricia Kemesies of East Islip, N.Y., worked at different locations, but all maintain that they worked in excess of 40 hours a week with no overtime. The plaintiffs allege that, if the loans they handled were not approved, they received no pay for the long hours they worked, and that this practice violates the minimum wage law, according to the attorneys that filed the suit, Nichols Kaster & Anderson PLLP of Minneapolis and Outten & Golden LLP of New York. Alan Gulick, a spokesman for WaMu, said the company has not yet seen the lawsuit. "However, we believe our compensation practices are fair and ethical, and we will vigorously defend our company against the allegations made," he said. Nichols Kaster & Anderson has a website, http://www.overtimecases.com, that lists 10 other active cases against nine mortgage lenders.
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Make the right lending decisions by being informed and knowledgeable on the impact of flooring during appraisals, upgrades, and resale evaluations.
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Roof damage can reduce a property's value and loan security. Lenders must know the warning signs that indicate major structural and financial risks.
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The federal regulator terminated the wholesale lender's FHA approvals in six jurisdictions because of certain elevated default and claim rate data.
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The Mortgage Bankers Association leader cited past objections on anti-competitive grounds as Trump administration officials showed signs of progress on reform.
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Homes for sale inventory reached pre-COVID levels for the first time in years, while contract activity continued to soar last month, HouseCanary said.
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The new litUSD is being issued on Ethereum and backed one-to-one with the dollar using cash and cash equivalents being held by LitFinancial in reserve.
September 12