Legal Question in Employment Law in Texas

Loan Officer - not receiving commission for loan submitted

I am a loan officer for a mortgage broker. I closed a loan recently (my last one for this broker) and now since I am leaving, he is refusing to pay me for the loan out of spite. He does direct some of my work since I sell my loans to a wholesaler through him, all of my loans are archived in his office and he typically presumes ownership of any loan I do, so he will often supercede my judgements on files I do regardless of what my opinion might be so I am not sure whether I qualify and an employee. I really only want to be paid the 55% split (about $3000 in this case) on commissions we agreed upon for loans I submit. This will be the last one so I don't understand what he is trying to accomplish. However, if I am an independent contractor do I have any legal recourse to recover my commissions? The loan contract between the client and myself shows me as the the loan officer and the client will sign an affidavit showing me to be the loan officer. Please let me know what I can do. Thank you.


Asked on 12/27/04, 2:38 am

1 Answer from Attorneys
Trang Tran Tran Law Firm L.L.P.

Re: Loan Officer - not receiving commission for loan submitted

The first step is to file a wage claim with the Texas Workforce Commission. The Texas Pay Day act requires an employer to pay a departing employee all final pay, commission and bonuses within six calendar days of discharge.

The isse of whether or not a loan officer is an independent contractor or an employee for purpose of determining overtime pay and minimum wage pay is an issue that is gaining traction in the field of overtime law.

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Answered on 1/07/05, 10:51 am


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