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The Mortgage Broker Act requires that all businesses offering mortgage brokerage services, includes loan correspondents, table-funding and independent contractor (third party) loan processors and underwriters, in the State file with the S.C. Department of Consumer Affairs using the NMLS. The current Initial Filing Fee is $750. Renewal Fee is $550. NMLS processing fees are not included.
All licensees and new applicants must submit all filings through the Nationwide Mortgage Licensing System and Registry (NMLS). Additional instructions for the NMLS can be found at the NMLS Resource Center.
A recent change in South Carolina's Mortgage Lending Act and Mortgage Broker Act goes into effect September 16, 2017. For information, see our press release (PDF).
If you submit your application before midnight on September 15, 2017, you will have to comply with existing requirements including:
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Taking the South Carolina state-specific test
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Providing a state criminal background check
If you submit your application after midnight on September 15, 2017, you will need to complete three hours of pre-licensing education. However, you will NOT have to (1) take South Carolina state-specific test, or (2) provide a state criminal background check.
*Please note the Department's new physical address is 293 Greystone Blvd., Ste. 400 | Columbia, SC | 29210*
**Mailings may still be sent to PO Box 5757 | Columbia, SC | 29250-5757**
General Information
- COVID Guidance Rescission (PDF) (Updated 7/22/2022)
- Interim Guidance for Mortgage Brokers Re: Working Remotely from Unlicensed Location & Mortgage Log Submission (PDF) (Updated 7/30/2020)
Mortgage Log 2022
**NOTE: Completed Mortgage Logs are due by March 31, 2023.**
- Mortgage Log Data Entry Form (XLSX)*
- Mortgage Log Instructions & FAQs (PDF)
- How to Export from HMDA Software (PDF)
- HMDA Loan Application Register Code Sheet (PDF)
*When opening the Excel file, you must choose "Save As" and save it to your computer.
Law
- Senate Bill 366 - Amendments to the Mortgage Lending Act and Mortgage Broker Act
- Statute - S.C. Code Ann. §§40-58-10 - 40-58-130
- Regulation 28-400 Effective 6/26/2015 (PDF)
- High Cost and Consumer Home Loan Act
- Financial Identity Fraud and Identity Theft Protection Act
- Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Mortgage Licensing Act of 2008)
Licensing Instructions and Forms
- Mortgage Broker Forms
- Pre-licensing Education (PE) and Continuing Education (CE)
- Review and Advisory Board Fee Worksheet for Determining High Cost Loan (PDF)
- High Cost Loan Checklist (PDF)
- Mortgage Broker Advertising Standards and Guidelines (PDF)
- Referral Fees Prohibited