On November 21, 2008, Plaintiff, Desiree Vaughan, filed a lawsuit against Defendant, Mortgage Source, LLC, seeking to recover unpaid overtime compensation on behalf of all loan officers who ever worked more than 40 hours during any given week. The lawsuit charges that Mortgage Source violated federal law by deliberately failing to keep accurate time records and failing to pay wages earned as required by the Fair Labor Standards Act (“FLSA”).

Plaintiffs allege that hundreds of inside loan officers working for Mortgage Source across the country were victimized by Mortgage Source’s unlawful practices and are eligible to join this lawsuit. Plaintiff brings this action on behalf of herself and all other loan officers employed by Mortgage Source in the United States from November 21, 2005 to the present.

Under the FLSA, employees are entitled to wages for all hours worked and time-and-a-half pay for each hour over 40 hours worked in a workweek, unless they are exempt from the Act. These laws also require employers to maintain accurate records of hours actually worked by its employees.

In this case, Plaintiffs allege that loan officers were not exempt from the FLSA because they were not paid a guaranteed salary as required by the Act. Rather, Defendant paid its loan officers primarily on a commission only basis. Plaintiffs allege that they often worked overtime hours in excess of 40 per week selling residential loans and that Mortgage Source failed to record the time worked by its loan officers.

“By failing to pay its loan officers any salary at all, Mortgage Source clearly violated the minimum wage and overtime provisions of federal and state law.  We filed this lawsuit to ensure our clients are properly compensated for all the long hours they spent selling loans for Mortgage Source.” stated James Zouras, one of the attorneys for the Plaintiffs.

If you worked for Mortgage Source as a loan officer and would like to join this case, please download, complete, sign and return the attached Opt-In Consent Form to our offices via email, facsimile or U.S. mail at your earliest convenience. If you want more information on your rights, please fill out this contact form or feel free to contact an attorney at:

If you are currently employed, or have been employed in the past three years, by Mortgage Source as a loan officer and would like more information concerning your legal rights, please feel free to contact an attorney at:

Stephan Zouras, LLP
Tel. 312-233-1550
Fax 312-233-1560


or

Erik H. Langeland, P.C.
Tel. 212-354-6270
Fax. 212-898-9086