You may have a right to participate in this settlement if you held the exempt-classified Loan Processor position at any time during the period of July 1, 2021, through November 20, 2024. For the avoidance of doubt, Loan Processors who commenced their employment with Wemlo on or after July 16, 2024 are not eligible to participate in this settlement.
A settlement has been entered to resolve a lawsuit on behalf of current or former exempt-classified and salary-paid Loan Processors at Wemlo.
On December 9, 2024, plaintiffs filed a lawsuit seeking alleged unpaid wages for exempt-classified LPs. The lawsuit claimed Wemlo should have paid LPs on an hourly basis and paid them overtime wages. Wemlo denies the allegations in the lawsuit. Wemlo claims that the LPs were properly classified and paid as salaried, exempt employees in accordance with the law, and that LPs did not work over forty (40) hours in a week, and, therefore, overtime wages are not owed.
To receive a payment you must timely complete and return the Claim Form and Release that was enclosed with your Class Notice or submit the Claim Form through our website: www.wemloloanprocessorsettlement.com using your CPT ID and Passcode. If you did not receive a Notice, please contact the settlement administrator listed below. Your Claim Form must be postmarked to the Settlement Administrator or submitted online on or before March 25, 2025. The Settlement Administrator’s contact information is:
Cabral v. Wemlo, LLC
c/o CPT Group, Inc.
50 Corporate Park
Irvine, CA 92606
Fax: (949) 419-3446
Toll-Free Number: 1-888-452-8006
Email: wemloloanprocessorsettlement@cptgroup.com
Website: www.wemloloanprocessorsettlement.com