62 chapters · 1,983 sections in this title.
S.C. Code Ann. § 40-58-20 Definitions
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As used in this chapter: (1) "Act as a mortgage broker" means to act, for compensation or gain, or in the expectation of compensation or gain, either directly or indirectly, by: (i) soliciting, processing, placing, or negotiating a mortgage loan for a borrower from a mortgage len…
S.C. Code Ann. § 40-58-30 Mortgage brokers and loan originators to be licensed; exceptions
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(A) A person may not act as a mortgage broker in this State without first being licensed with the administrator. A person, required to be licensed pursuant to this chapter, may not do business without a license under any name or title, or circulate or use advertising, including e…
S.C. Code Ann. § 40-58-40 Surety bonds; determination of amount; uses
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A mortgage broker shall post and maintain a surety bond in an amount determined by the administrator that is based on the total dollar amount of mortgage loans originated in a calendar year pursuant to the following: (1) dollar volume of mortgage loans from $0 to $49,999,999 sure…
S.C. Code Ann. § 40-58-50 Application for licensure; applicant work experience and education requirements; exceptions; license required for qualified loan originator
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(A) An application to become licensed as a mortgage broker or loan originator must be in writing, under oath, and in a form prescribed by the administrator. The application must contain any information the administrator deems necessary including the name and complete business and…