Mortgage Broker Overtime Exemption

TMorche

I was wondering if there were any other mortgage brokers/lenders out there with Loan Officers who are now affected by the Overtime Regulations? If so, what are you doing to comply. We always have had our LO's as exempt, but undert he Outside Sales exemption, but now, according to industry peers & lawyers, etc... we are being encouraged to pay them a minimum salary - which will dramatically impact the way our entire operation is run. Any feedback would be helpful. Thanks!