Class Code 8749
Mortgage Bankers
Class Code 8749 covers Mortgage Bankers in Californiabusinesses that originate, underwrite, process and service mortgage loans. The September 1, 2026 approved pure premium rate for this class is $0.125 per $100 of payroll, reflecting the generally low physical-hazard profile of office-based lending operations.
What Class Code 8749 Covers
This classification applies to companies whose primary business activity is mortgage banking: loan origination, underwriting, loan processing, closing coordination and loan servicing. It covers salaried and commissioned loan officers employed by mortgage banks, underwriters, loan processors, closers/settlement coordinators, escrow support staff and servicing/collections staff when employed by the mortgage banker. Most duties are performed in branch offices or corporate offices handling borrower intake, document preparation, credit and income analysis, disclosure compliance and vendor coordination (appraisals, title, escrow). Some workers in this class make field visits for signings, closings or borrower meetings and may travel to branch networking events, driving between offices and client locations.
Who It Applies To
- Mortgage banking firms that originate and/or service loans
- Salaried or commissioned loan officers employed directly by a mortgage bank
- Underwriters and loan processors working for mortgage bankers
- Closing and settlement coordinators, escrow support within mortgage companies
- Loan servicing and collections staff employed by the mortgage banker
Common Job Duties
- Interviewing borrowers and taking loan applications
- Verifying income, assets and credit; preparing underwriting files
- Preparing disclosures, compliance documents and closing packages
- Coordinating appraisals, title searches, escrow and settlement logistics
- Attending or coordinating loan closings and borrower signings
- Managing loan servicing tasks, payment processing and collections
- Maintaining borrower records and handling confidential financial information
Common Injury Risks
Understanding the $0.125 Rate
The pure premium rate of $0.125 per $100 of payroll is the portion of premium intended to cover expected claim costs. Practically, you multiply your payroll subject to Class 8749 by 0.00125 to get the pure premium; for example, $100,000 in payroll produces $125 in pure premium ($100,000 / $100 x $0.125 = $125). The actual premium an employer pays also includes carrier expense loads, state assessments, experience modification (X-mod), policy discounts, and any payroll audit adjustments, so your final premium can be higher or lower than the pure premium alone.
Cal/OSHA Compliance Requirements
Although mortgage bankers work is largely office-based, California employers must maintain a written Injury and Illness Prevention Program (IIPP) and follow Cal/OSHA general industry standards for office ergonomics, emergency preparedness and housekeeping. Employers with staff who drive or meet clients off-site must implement driver safety policies and training. Employers should also evaluate workplace violence prevention measures for client-facing locations and maintain required injury reporting and recordkeeping under Cal/OSHA.
How Key HR Helps Employers Under Class Code 8749
A PEO like Key HR can help mortgage bankers lower workers' comp costs by ensuring correct payroll classification, aggregating buying power with preferred carriers, and managing claims and return-to-work plans to reduce indemnity exposure. Key HR also provides loss-control services tailored to lending operationsergonomic assessments, driver-safety training, workplace violence prevention guidance and standardized IIPP implementation to reduce claims frequency and improve experience modification over time.
Get a QuoteFrequently Asked Questions
Are commissioned loan officers included in Class Code 8749?
Yes. Commissioned loan officers who are direct employees of a mortgage banking firm are typically coded to Class 8749; however, payroll allocation rules and how commissions are reported can affect premium calculations and should be reviewed at audit.
How does remote or hybrid work affect my workers' comp classification and premium?
Workers remain covered under the classification that reflects their job duties. If loan officers or processors continue the same duties from home, payroll remains in 8749; however reduced office foot traffic and fewer field visits may lower exposure and influence loss-control strategies and, indirectly, experience modification over time.
What practical safety steps should a mortgage banker implement to reduce claims?
Implement a written IIPP, conduct ergonomic workstation assessments, enforce slip/trip prevention and office housekeeping, provide driver-safety training for employees who travel, and adopt workplace violence prevention protocols for front-desk and field staff; document training and incident follow-up to support claims management.
Quick Facts
- Class Code
- 8749
- Classification
- Mortgage Bankers
- Pure Premium Rate
- $0.125 / $100 payroll
- Effective Date
- September 1, 2026
- Source
- WCIRB Approved Filing
Manage Workers' Comp Through a PEO
Key HR provides pay-as-you-go workers' comp for California employers — no large deposits, no audits, better rates.
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