Q.	Do I need a license to be a Mortgage Broker in the state of South Carolina?
A.	Yes
Q.	Who regulates 2nd mortgage lenders in excess of 12% APR?
A.	The South Carolina Board of Financial Institutions, Consumer Finance Division at 803-734-2020 (1st mortgage lenders are not licensed but must comply with the S.C. Consumer Protection Code.)
Q.	What is the procedure for obtaining a South Carolina license to become a Mortgage Broker?
A.	You may download an application from our website where it is listed under "Related Mortgage Broker Documents” and clicking on Initial Filing Forms.
Q.	Is South Carolina a "brick-and-mortar" state?
A.	Yes, you must have a physical presence here. (See S.C. Code Ann. § 40-58-65)
Q.	Can we broker a loan in South Carolina if we are a licensed broker in another state?
A.	No, unless you possess a valid South Carolina Mortgage Broker's license.
Q.	Are there exemptions for a one-time broker transaction in South Carolina?
A.	No.
Q.	Can I co-broker a loan in South Carolina?
A.	No, you must be a licensed broker in South Carolina.
Q.	How do I verify whether a company has a current South Carolina Mortgage Broker License?
A.	On our website under "Related Mortgage Broker Documents" by clicking on "Mortgage Broker/Originator Licenses", or by sending a faxed request to 803-734-4287.
Q.	How do I obtain a list of South Carolina Mortgage Brokers?
A.	A current list of brokers and originators is available on our website. The list is updated frequently and provides accurate licensing information to assist lenders and consumers.
Q.	I have applied to get a South Carolina Mortgage Broker license. How long does this process take?
A.	Between 2 - 4 weeks, if all forms are completed in their entirety and mailed to the South Carolina Department of consumer Affairs, P.O. Box 5757, Columbia, SC 29250-5757.