Free Response to Motion - District Court of Colorado - Colorado

Case 1:03-cv-02485-MSK-PAC

Document 345-38

Filed 02/16/2006

Page 1 of 2

EXHIBIT C

Case 1:03-cv-02485-MSK-PAC

Document 345-38

Filed 02/16/2006

Page 2 of 2

Nò.49
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MISCELLANEOUS PRIVATE -SECTOR

WHM'99:8351

:: ~ ".~ . '.~ '..~,~ . 'i

. ,Lfiá.n ,.9ff(fr~/EItmi.pt S~iitus":" . '"

".1"' '.
i "':~.. .;' ./":

"" eu; ,U ' ." , ': '(F"'l:"'16 2'vtOl)' . ", "
ilaëts the goalS''tfthe borrower

,..

" "Tiû, is' .:ii " r'es'pÓnse' :ti,. ýôur l~t£ér re-

rower. to create II loan ,packagê.,'that,lJest
while stil

'ijiieåtûg)i: reCOrísiderati6n' ofoil opinion 'of'May 17, 'l!J99,:,concerning the exemtlt
status' of .loan tifiëers under section
(FLSA); 'You ,ask thåt ':e consider the.

coinplyig .. with the' varied and complicated lender requiements. The loan offcer must seleèt from a..wide' range of loan
client, and- supermse the processing'of. the

'1S(a)('l,"Ø the' Fàfr Labor Stndarns Act packages inoorder' to properly. advie the
loan-offëérs" eXemphtatull in light of the :ädVisory dtities'they perform.on,behalf:of their :~iniilòyilr's customerS'. . ' , 'yoa'state; amòftg'otner things, thatthe löan officers Job 'is to ,work with the ,borS-7~1

transaetion to closing. The loan ,offcer
must also acquire a full uridei'standiiig of the eustomers credit histo~ ii.d fina,nci~l
goals

,in order to,advie them regardirg

Copyright" 2001 by ......... ... _......National Afalt', Inc. The Bureau-.,r

WHM'99~8352'
(Feb.-'16¡ 2001-Cotitd.i .

TEXT' OF OPINION LETTERS.

No.

49

independent judgment within the mE!,iin-

the seleètion'of a loan'package that will

fit

iiig. ot section 541.2 of, the. regulationii.~ .

their needs and abilty.
Basi¡d' on the'informatiòn you su~mit-

From the ii:formation you;sllbmitteçl, lt app.cRrß. the loan offcers are: ,u~ipg th,eir
niques, pr~(leG~res, aniV~r sp'e~jtt:'.stane

ted indicating that the primary duty of a
loått. 'offcer is' to 'advlsè'a bo;rröwerin the selection òf a'loan package, we agree that the prim'arý duty~ of' the' loan officer. con.;
sists. of :the. pèrfurtnah'ce of 'office '01' non-

skill and knpwledge in applyng tech'dards (such ,L¡ loan-to-vålù~ I'ätioii ïirid d!'bt ri¡tios)in cliooaing iÙl tLfreaay- ~t~h~
ltsp.ed loan pàCkag~-,t\1at b'ßi¡t rnt~tB._th.E;

manual work-directly, related to the management. 'policies!' or. .'general bus;ness

needs. ånd fihanciäl' ä:bilties of' the bôr"
rp\y~r:sn.d. VI~ì~~- cømporW Witn- thEr~pech

fied requirémentsof ,the lender:: We;
therefore, conclude thali::the ldii,r:dffcefs
in.: questióh 'are' not 'exer¿isihirtIie' 'riaces'-

operation"f øf thei-irñplóyer:. Cir the em~
plòyer's'custorters. Howetrer,in order for.
the e:Kemption to apply, the loan- offcer

must also 'êustOmarily aiidiregularly,:exercisè ~iscretion', and independent: judg-

sary' dtscretion" ånd indepèïident' jud'g'" trent'within ,thë. trreániíg :,'Of tlî:regulai tiona;' ,and. wOi:ld.. riot bej., exempt'. ' :is

ment as reqûited by'Regulations, 29 CFR
Part '"61' The regUlations in sectiim
541'.20'nndicate that confusion exists ber

ådminiBtrative employees;. ' ',.'.' ' .:;
. This opinion is based exclusively'on the faots and circumstances des.cribed.in yòi:r
request and,is"given' on the representation, explicit

twe'en .lIthe exercise of- discretion and ,in~
dependent -judgment" and "the use of
i,kils in applyng'

basis of yow;

or lnpliiiçl¡, Jliat

techniques, procedures, 01' spécific' standards", and these. terms are most: .frequently misundel'stood ,and
misapplied by emplo~ers and'.

you,hiwe. providød a fun and fair detlÇtption, of all the faets and. circunlstanèes th~t,would blfperttnenttô 9\lr,è~nä.(d~r¡itiol\ of the questiop'i pr~sant~d.. Exii¡t- ,

employees.

An' employee who, merely applies hi

knowledge itl following prescribed procedUres or deterinining whIch' procedure

en~e of.. .iiny o,th~.~ J~ctuiilé: :lii~w.i1èl p.3:ckgrÇlun~,n-ot co.p.taln~d l! youH~qU.~St ,(
I1lg~t reqn~e,,a dIrfer~~t ~on~lusiqi(t¥ai1

to

follOw,' or whó determinøs whether- sper cific-staridards are met or whether an'obi 'one "Qr another of a number ject'fälls into of definite grades',' classesi or other cat.

theoll~_expr~i:s!!d, tIjereitl, ,','"

.. Weti'Ùát the aböv~ iritoriIati6if iii .têSP?,~sivê to,yõ4r. fhq~~ ':, . ".:,~';/"~',
(Opln,ion j¡ign~~ btOffice' of EnrorceTÍiiiit PôUèy,'Fi¡r

Labor Standiirds Tesm.membår!Baröarli R. Rëll!rot',

egories' is"not'exercising discretion and

Feb:16¡2001J .., .'~-. :';, '0.

,;,.. .' .. .':

. :.. :'"_:.