MCCA Insights
MCCA likes to keep our clients informed on the latest finanancial news and information. In an effort to help our clients understand how the changing regulatory environment relates to their organization, we offer analysis on the latest occurrences in the financial world.
Latest Entries
Overtime for Mortgage Lenders - WHAT YOU NEED TO KNOW!
Mortgage lending faces a number of compensation challenges from recent regulatory actions. In addition to Dodd-Frank and the recent Regulation Z compensation provisions, the Department of Labor issued its first “Administrator’s Interpretation” last year that overturned a previous DOL opinion and required mortgage originators to be classified as non-exempt and subject to overtime pay practices under the Fair Labor Standards Act (FLSA.) This ruling may not have received as much publicity as Dodd-Frank, but it results in additional compliance concerns for all mortgage lenders. This article provides some background and insight when coping with how to classify, compensate, and manage your mortgage lenders (originators).
A New Path for Executive Compensation: The Imperative - Act Now
Chief executive officers, board directors, and compensation committees have been under intense scrutiny and pressure since the onset of the ‘Great Recession’. And the resulting post traumatic stress is, in our view, compromising the enabling impact of executive compensation and benefits to strengthen effective leadership and build shareholder value. This commentary offers a four-part, pragmatic executive compensation prescription to act proactively in the evolving context of new regulations and an ever growing need to enhance your organization’s ability to attract, motivate and retain key executives.