Keep Very Accurate Work Records In The Mortgage Segment … The Payoff Could Be HUGE!
The verdict out of the Bowerman case in the California Federal District court is very important. Fred Bowerman was included in a class action suit against a Mortgage Order Mill (MOM). Fred was an independent contractor, but the MOM treated Fred as an employee … they were very controlling. Fred kept very good records.
Foreclosurepedia has posted the court verdict worksheet records for the first 11 claimants in the case. About $2 milli0n dollars is going to the first 11 claimants. Fred’s share of the court award is $269,281. Federal court case law is building which is showing that mortgage field service representatives are employees and not independent contractors because of the rigid controls exercised by the many MOMs.
Be smart and document all of your operations and expenses. Maintain super detailed and accurate records. Backup your records up to the cloud. A day may come when you are able to participate in a class action suit and win big.
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