Escrow employees should receive overtime pay
Escrow employees are title agents, escrow officers and loan officers working at title companies and banks. They often are paid salaries instead of hourly wages. These jobs come with a professional image given the subjects with which they deal, namely loans, mortgages, land title and escrow accounts.
Employers reasons that the professional nature of the work means that they are not required to pay overtime. In reality, it is the actual tasks these employees perform that determines whether overtime is due, not the image of the worksite.
Escrow work is repetitive & highly regulated
Escrow positions involve a series of repetitive tasks performed under strict guidelines with no discretion to alter forms or change approvals and denials. These employees generally do not have managerial duties. They are doing the same work as other hourly employees.
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Federal law mandates overtime
Routine tasks The federal Fair Labor Standards Act (FLSA) controls whether an employee is due overtime. When employees perform routine tasks without managerial responsibilities, they are considered non-exempt, meaning they are entitled to overtime beyond the 40 hour work week. Over time pay is 1 ½ times the normal hourly wage.
Escrow employees should be paid overtime
Escrow employees should be compensated for all of the hours they work, including overtime pay for every hour over 40 hours-per-week. If you are a title agent, escrow officer or loan officer who has been denied overtime pay, you have three years to assert your right to back pay. Our firm has experience in this area and can help you collect the back pay you have earned.
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Contact us right away for a free confidential consultation. The Fibich Hampton team of employment lawyers are ready to speak with you regarding your back wages.
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