South Carolina Mortgage Licensing | South Carolina Department of Consumer Affairs

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Mortgage Banker | BFI Mortgage Banker License

• Physical In-State Office Required: No
  
• Qualifying Individual: Yes, 3 years of mortgage experience must complete NMLS Education and Testing for SC LO License.
  
• Minimum Net Worth:  $ None
  
• Surety Bond: $50,000 to $150,000
  
• Branch Licensing: Yes
  
• Loan Originator Licensing: Yes
  
• Comment: Must have delegated underwriting authority from investors and/or underwrite loans in-house, must make final credit approval decision, and must have a warehouse line with no restrictions on which investor you can sell loans to.
  

License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$1,100 – Company License Fee
$500 - $50k Surety Bond
$160 – Foreign Entity Fee
$125 – Registered Agent Fee
$54.25 – Fingerprint Fee per Owner/Officer not obtaining SC LO License
$35 - Fingerprint Fee per Owner/Officer obtaining SC LO License 

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Mortgage Broker | DCA Mortgage Broker License

• Physical In-State Office Required: Yes, must have a location in South Carolina manned by a SC Licensed Loan Originator with 3 years of verifiable financial services related experience.
  
• Qualifying Individual: Yes, must show proof of 3 years of financial services related experience and must complete the SC LO Licensing requirements.
  
• Minimum Net Worth: $ None
  
• Surety Bond: $25,000
  
• Branch Licensing: Yes
  
• Loan Originator Licensing: Yes
  

License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$160 – Foreign Entity App
$125 – Registered Agent Fee
$850 - Company License Fee
$250 – SC $25k Surety Bond
$54.25 – Fingerprint Fee per Owner/Officer
$170 – Branch License Fee 

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Regulated by:
South Carolina Department of Consumer Affairs
2221 Devine Street, 2nd Floor 
Columbia, SC 29205 
Telephone: (803) 734-4200 
Fax: (803) 734-4286
Charles Knight, Staff Attorney - Email: [email protected], Phone: 803-734-4187, Fax: 803-734-4229
http://www.state.sc.us/consumer/

State Board of Financial Institutions
Consumer Finance Division 
Ron Bodvake ([email protected]) 
Sam Baker ([email protected])
Tammy Meetze - 803-734-3169 - [email protected]
Phone: 803-734-2020
1205 Pendleton Street, Suite 306
Columbia, SC 29201-3756
http://www.bofi.sc.gov/Pages/ConsumerFinance.aspx