128 Originators Suing Employer

Veronica Corningstone · #1 (**permalink**) 09-27-2006, 03:48 PM

Oak Street Mortgage is being sued in federal court by a rapidly growing number of loan officers who claim that the company improperly withheld overtime pay from their wages. "It's going to be an enormous case," the plaintiffs' attorney told MortgageDaily.com in an interview. While three former originators initially filed the lawsuit this summer, more than 125 others from around the country have since joined the litigation.

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Greg · #2 (**permalink**) 09-28-2006, 07:31 PM

Lol...

brendo927 · #3 (**permalink**) 10-05-2006, 08:06 AM

thats awesome. Most of these Lo's dont fight back and don't think they will actually get paid? All you gotta do is be persistant and you will get paid. Good for them.

Greg · #4 (**permalink**) 10-05-2006, 10:32 AM

Oak Street might as well just file bk and close it's doors.

Erik · #5 (**permalink**) 10-05-2006, 02:10 PM

It's not a lot of money when it's broken down to the individual level though... minimum wage less 40-50% attorney's fees?