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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.
*Please note the Department's physical address is 293 Greystone Blvd., Ste. 400 | Columbia, SC | 29210*
**Mailings may be sent to PO Box 5757 | Columbia, SC | 29250-5757**
General Information
- Administrative Interpretation 23.20-2401 (PDF) issued 5/21/2024: Federal average prime offer rate may be used as a substitute for retired net yields when performing the threshold calculations required by the High-Cost and Consumer Home Loans Act. (**NEW**)
Mortgage Log 2024
Mortgage Brokers and Mortgage Lenders/Servicers are required by SC law to file two reports: (1) annual report and (2) mortgage log. The annual report is accomplished by filing the MCR in NMLS. However, the Mortgage Log must be filed directly with SCDCA by March 31, 2025, using the below Mortgage Log Data Entry Form.
- Mortgage Log Data Entry Form (XLSX)*
- Mortgage Log Instructions & FAQs (PDF)
- How to Export from HMDA Software (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