Loan Officers File Class Action Against Guaranteed Rate, Inc. alleging minimum and overtime compensation violations

On July 26, 2011, a class action lawsuit was filed by the California employment lawyers at Blumenthal, Nordrehaug & Bhowmik against Guaranteed Rate, Inc. alleging that the mortgage lender has violated the rights of loan officers under the California Labor Code. The class action complaint alleges that the mortgage lender unlawfully paid loan officers below minimum wage, failed to compensate them for overtime hours worked and unjustly deducted expenses from previously earned wages.

Stay tuned to this blog for continuous updates on this class action lawsuit.