Waterstone Mortgage Corporation II (new case filed 2017)

This overtime and minimum wage case was filed in the Western District of Wisconsin on behalf of two former mortgage loan officers (LOs). The case claims:

First, that Waterstone did not allow employees to record hours over forty in a work week. The off-the-clock work causes loan officers to suffer sub-minimum wages and loss of overtime pay at the rate of time and one half.

Second, that the company’s failure to reimburse loan officers for expenses which by law must be considered employer expenses also violates the company’s promise to pay minimum wage and the Fair Labor Standards Act.

Third, that the decision of Arbitrator George C. Pratt, in the Herrington v. Waterstone case, currently pending in the Western District of Wisconsin, is applicable to this case and conclusive with respect to proving Waterstone’s failure to pay proper wages and failure to reimburse business expenses under the FLSA.

The complaint is brought under the federal Fair Labor Standards Act (FLSA). The case has been assigned to U.S. District Judge James D. Peterson and U.S. Magistrate Judge Stephen L. Crocker.


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