Any person or entity who acts as a mortgage broker for compensation or gain in South Carolina, including those soliciting, processing, placing, or negotiating mortgage loans. Required when: Application for a mortgage broker license or maintenance of an existing license. Exemptions: Exempt persons include depository in…
Overview
What it is.
Any person or entity who acts as a mortgage broker for compensation or gain in South Carolina, including those soliciting, processing, placing, or negotiating mortgage loans. Required when: Application for a mortgage broker license or maintenance of an existing license. Exemptions: Exempt persons include depository in…
Who usually needs it
Any person or entity who acts as a mortgage broker for compensation or gain in South Carolina, including those soliciting, processing, placing, or negotiating mortgage loans.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateSCBond amountThe bond amount is determined by the administrator based on the total dollar am…Term lengthContinuousObligeeSouth Carolina Department of Consumer AffairsRenewalThe bond is continuous and remains in full force until cancelled. Licensees must renew their license annually through the NMLS and ensure the bond amount is adjusted to reflect the previous year's loan volume.Bond classLicense BondCategoryFinancial ServicesBondMortgage Broker Special Deposit BondStatutory referenceS.C. Code Ann. § 40-58-40JurisdictionState
