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UWM will pay $2.75M to settle unpaid overtime claims

United Wholesale Mortgage will pay $2.75 million to settle claims, dating as far back as 2018, contending it didn’t compensate its account executives for working overtime.

Former and current UWM account executives eligible for a portion of the settlement must have worked at the wholesale lender between Oct. 12, 2018, and Dec. 23, 2021.

An additional requirement: an executive must have had a total gross compensation of less than $100,000 annually before Jan. 1, 2020, or less than $107,432 annually after Jan. 1, 2020, according to a memo sent to UWM’s employees last week. The number of employees eligible for a share details ⇒

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