The South Carolina Department of Consumer Affairs,
handles all aspects of regulating and supervising Mortgage Brokers and originators who
work within the state.
All South Carolina mortgage licenses are handled through the National Mortgage Licensing System.
Prelicensing requirements include approved courses that are 20 or more hours and contain 3
hours of Federal Law, 3 hours of Ethics, 2 hours of Non-traditional Mortgage Lending plus
12 or more hours of electives. This may be in addition to South Carolina-required content.
A minimum of eight hours per year of continuing
education is required nationally per year, per the SAFE act.
The licensing fee for NMLS for Loan
Originators is $219. The licensing fee for a mortgage
broker is $1000. Click on the links in the preceding sentences for more details about
Even though licensed in another state, Mortgage Brokers must still be licensed in South
Carolina if doing even one transaction. Co-brokering is not allowed. One must be a
licensed Mortgage Broker in order to negotiate loans in South Carolina.
Applicants who desire to become a Mortgage Broker in South Carolina provide a continuous
Surety Bond of $25,000
. Other requirements include validation of financial responsibility,
general character and fitness, and educational background.
Mortgage Brokers must maintain an official place of business within the state. The office
needs to be open during regular business hours and staffed by one or more employees.
The South Carolina Mortgage Brokers Association
(SCMBA), is an affiliate of the National Association of
(NAMB) . These organizations provide excellent resources for those
who desire to obtain a Mortgage Broker License in South Carolina
South Carolina Mortgage Forms
South Carolina Reciprocity States
(as of 2/23/2010)
South Carolina Approved Mortgage Schools Prelicensing and
Abacus Mortgage Training
|Last Update: 2/22/2010
This list may not include all approved schools. Please visit the Department of Consumer Affairs website for the latest
list of approved schools.