Legal Question in Business Law in Utah

Compensation

I work for a mortgage bank. My license expired in OCT 2003. I went to renew the license and had all the necessary info. I paid my fee and was to be mailed my renewal. I never received it. I contacted the division of real estate and they said it was because the bond info from my company was incorrect. I spoke to my company and they were to fix the problem. The problem is that because the bond help up my renewal 30 day after my license expired I need to reapply as a new mortgage originator. The problem with this is that Utah now requires new originators to pass a test before they get a license. I have loans that need to be approved but cannot do anything because I have no license. My question is can I sue my company for lost wages on these loans while I study and pass the test? It was their fault for not having the correct bond info for me. I get paid commission only. Without being able to submit loans I have no income. I don't know how long it will take to prepare and pass the test. Please help.


Asked on 1/08/04, 10:38 pm

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: Compensation

You probably could sue your company, but then you should realize that they might terminate you. It would seem wiser to discuss this problem with your manager(s) and see what can be done to find an equitable and fair solution.

If you do sue them, in order to win you would have to have proof that the responsibility was solely the company's and that you had no duty to verify the information.

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Answered on 1/09/04, 11:49 am


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