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Mortgage licensing / South Carolina

South Carolina Mortgage Broker License

company licence · NMLS SCDCABROKER_C · BFI - CFD

Requirements (17)

  1. Step 1

    Financial Statements: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement. NOTE: Financials should be dated within 90 days of your fiscal year end.Financial statements should include a balance sheet, income statement, and statement of cash flows and all relevant notes thereto. If applicant is a start-up company, only an initial statement of condition is required.

    Submitted via: NMLS

  2. Step 2

    Approvals and Designation

    Submitted via: NMLS

  3. Step 3

    Qualifying Individual: This individual must be listed in the Qualifying Individual section of Company Form (MU1). Please be advised that this individual must satisfy the following: • must have at least three years’ experience in financial services or financial services related business; • must be located within a reasonable commuting distance to the company main office; and • must be a control person. The Qualifying Individual must file an MU2 and MU4 and be sponsored by the company.

    Submitted via: NMLS

  4. Step 4

    Credit Report: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.

    Submitted via: NMLS

  5. Step 5

    MU2 Individual FBI Criminal Background Check Requirements: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.

    Submitted via: NMLS

  6. Step 6

    Business Plan: Upload a business plan outlining the following information: • Description of services (i.e., mortgage broker, mortgage lender, correspondent lender, lead generation, or contract processing/underwriting) • Marketing strategies • Products • Target markets • Fee schedule • Operating structure the applicant intends to employ. This document should be named [Company Legal Name] Business Plan. Note: If the existing uploaded business plan already includes the above information, an additional document does not need to be uploaded. A company should only upload a single business plan. If state-specific material is required, this information should be added to the existing uploaded business plan. Note: You may submit your business plan via email to SCMortgageBroker@scconsumer.gov PRIOR to application in NMLS if you are unsure of the proper licensing jurisdiction.

    Submitted via: Upload in NMLS: under the Document Type Business Plan in the Document Uploads section of the Company Form (MU1).

  7. Step 7

    Certificate of Authority/Good Standing Certificate: Upload a State-issued and approved document (typically by the Secretary of State’s office), dated not more than 60 days prior to the filing of the application through NMLS that demonstrates authorization to do business in South Carolina. Go to sos.sc.gov to apply for this certificate. This document should be named SC Certificate of Authority OR SC Certificate of Existence.

    Submitted via: Upload in NMLS: under the Document Type Certificate of Authority/Good Standing Certificate in the Document Uploads section of the Company Form (MU1).

  8. Step 8

    Document Samples: Upload copies of the following sample documents used in the regular course of business in connection with this license: • South Carolina Attorney/Insurance Preference Form. Click here to access form on Department’s website. • South Carolina Mortgage Broker Fee Agreement. Click here to access form on Department’s website. Must include company name and address on Fee Agreement. These documents should be named as they are written above.

    Submitted via: Upload in NMLS: under the Document Type Document Samples in the Document Uploads section of the Company Form (MU1).

  9. Step 9

    Formation Documents: Determine classification of applicant’s legal status and submit a State certified copy of the requested applicable documentation detailed below. Original formation documents and all subsequent amendments, thereto including a list of any name changes. Sole Proprietor • No documents required. Unincorporated Association: • By-Laws or constitution (including all amendments). General Partnership: • Partnership Agreement (including all amendments). Limited Liability Partnership: • Certificate of Limited Liability Partnership; and • Partnership Agreement (including all amendments). Limited Partnership: • Certificate of Limited Partnership; and • Partnership Agreement (including all amendments). Limited Liability Limited Partnership: • Certificate of Limited Liability Limited Partnership; and • Partnership Agreement (including all amendments). Limited Liability Company (“LLC”): • Articles of Organization (including all amendments); • Operating Agreement (including all amendments); and • LLC resolution if authority not in operating agreement. Corporation: • Articles of Incorporation (including all amendments); • By-laws (including all amendments), if applicable; • Shareholder Agreement (including all amendments), if applicable; and • Corporate resolution if authority to complete application not in By-Laws or Shareholder Agreement, as amended, as applicable. Not for Profit Corporation • Documents requested of a Corporation; and • Proof of nonprofit status • Internal Revenue Service (“IRS”) 501(c)(3) designation letter; or • statement from a State taxing body or the State attorney general certifying that: (i) the entity is a nonprofit organization operating within the State; and (ii) no part of the entity’s net earnings may lawfully benefit any private shareholder or individual; or • entity's certificate of incorporation or similar document if it clearly establishes the nonprofit status of the applicant; or • Any of the three preceding items described, if that item applies to a State or national parent organization, together with a statement by the State or parent organization that the applicant is a local nonprofit affiliate. Trust (Statutory) • Certificate of Trust; and • Governing instrument (all amendments).

    Submitted via: Upload in NMLS: under the Document Type Formation Document in the Document Uploads section of the Company Form (MU1). This document should be named Formation Documentation [Date of Creation (MM-DD-YYYY)].

  10. Step 10

    Management Chart: Upload an organizational chart showing the applicant’s divisions, officers, and managers. This document should be named [Company Legal Name] Management Chart. Note: If the existing uploaded management chart already includes the above information, an additional document does not need to be uploaded. A company should only upload a single management chart.

    Submitted via: Upload in NMLS: under the Document Type Management Chart in the Document Uploads section of the Company Form (MU1).

  11. Step 11

    Organizational Chart/Description: Submit a chart showing (or a description which includes) the percentage of ownership of: • Direct Owners (total direct ownership percentage must equate to 100%) • Indirect Owners • Subsidiaries and Affiliates of the applicant/licensee This document should be named [Company Legal Name] Organizational Chart – Description. Note: If the existing uploaded Organizational Chart/Description already includes the above information, an additional document does not need to be uploaded. A company should only upload a single management chart.

    Submitted via: Upload in NMLS: under the Document Type Organizational Chart/Description in the Document Uploads section of the Company Form (MU1).

  12. Step 12

    Electronic Surety Bond: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement. Note: Surety bonds submitted via the Document Uploads section will not satisfy this requirement.

    Submitted via: Electronic Surety Bond in NMLS

  13. Step 13

    Surety Bond Requirements Table Dollar Volume of Mortgage Loans Bond Amount $0 to $49,999,999 $25,000 $50,000,000 to $99,999,999 $40,000 $100,000,000 or greater $55,000

  14. Step 14

    Books and Records: Licensees are required to maintain their books and records for loans made to residents of South Carolina at a designated location within the State, unless they receive express written authorization to store them out of State or electronically as provided pursuant to SC Code Section 40-58-65(A). Therefore, if you have indicated on the MU1 that books and records will be maintained outside the state or electronically, you must submit the request in writing and upload to company MU1.

    Submitted via: Upload in NMLS: under the Document Type Additional Requirement(s) in the Document Uploads section of the Company Form (MU1).

  15. Step 15

    Credit Report Explanations: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement. Note: Items regarding bankruptcy, foreclosure actions, outstanding judgments or liens, or delinquent child support payments should be addressed in the Disclosure Explanations section of your Individual Form (MU2). This document should be named Credit Report Explanations – Sub Name – Document Creation Date.

    Submitted via: Upload in NMLS: under the Document Type Credit Report Explanations in the Document Uploads section of the Individual Form (MU2).

  16. Step 16

    Other Trade Name: If operating under a name that is different from the applicant’s legal name, that name (“Trade Name”, “Assumed Name” or “DBA”) must be listed under the Other Trade Names section of the Company Form (MU1). The South Carolina Department of Consumer Affairs does not allow more than one “other trade name” to be used in South Carolina.

  17. Step 17

    Resident/Registered Agent: The Registered Agent must be listed under the Resident/Registered Agent section of the Company Form (MU1) and must match the information currently on record with the South Carolina Secretary of State.

General information

Steps before application in NMLS SC-DCA strongly suggests that potential applicants submit a detailed business plan as described in the new application checklist below. This should be done before applying in NMLS to determine the correct licensing jurisdiction. Please wait for the business plan to be approved before applying as fees payable to NMLS are non-refundable. Who Is Required to Have This License? Any person (natural person, partnership, limited liability company, limited partnership, corporation, association, or other group engaged in joint business activities, however organized), unless exempt, who acts as a mortgage broker, for compensation or gain, or in the expectation of compensation or gain, either directly or indirectly, by: (i) soliciting, processing, placing, or negotiating a mortgage loan for a borrower from a mortgage lender or depository institution or offering to process, place, or negotiate a mortgage loan for a borrower from a mortgage lender or depository institution, (ii) engaging in tablefunding of mortgage a loan, or (iii) acting as a loan correspondent whether those acts are done by telephone, by electronic means, by mail, or in person with the borrowers or potential borrowers. ‘Act as a mortgage broker’ also includes bringing a borrower and lender together to obtain a mortgage loan or rendering a settlement service as described in 12 U.S.C. 2602(3) and 24 C.F.R. Part 3500.2(b). Independent contractor processors or underwriters must be licensed. Who does not need this license? (a) an employee of a licensee whose responsibilities are limited to clerical or support duties for the employer and who does not solicit borrowers, accept applications, or negotiate the terms of loans on behalf of the employer; (b) a depository institution or a subsidiary that is wholly owned and controlled by the depository institution and regulated by a federal banking agency or an institution regulated by the Farm Credit Administration. This chapter does not apply to the exempt persons described in this subitem; (c) an officer, registered loan originator, or employee of an exempt person described in subitem (b) of this section when acting in the scope of employment for the exempt person; (d) a person who offers or negotiates terms of a mortgage loan with or on behalf of an immediate family member of the individual; (e) an individual who offers or negotiates terms of a mortgage loan secured by a dwelling that served as the person’s residence; (f) an employee whose employment as a processor or underwriter is undertaken pursuant to the direction and supervision of a licensee or exempt person except when the processor or underwriter is working as an independent contractor; (g) an attorney who negotiates the terms of a residential mortgage loan on behalf of a client as an ancillary matter to the attorney’s representation of the client, unless the attorney is compensated by a mortgage lender, a mortgage broker, or other mortgage loan originator; (h) an attorney who works for a mortgage lender, pursuant to a contract, for loss mitigation efforts or third party independent contractor who is HUD-certified, Neighborworks-certified, or similarly certified, who works for a mortgage lender, pursuant to a contract, for loss mitigation efforts; (i) a manufactured home retailer and its employees if performing only clerical or support duties in connection with the sale or lease of a manufactured home and the manufactured home retailer and its employees receive no compensation or other gain from a mortgage lender or a mortgage broker for the performance of the clerical or support duties; or (j) any other person deemed exempt pursuant to the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), Section 1508, Title V of the Housing and Economic Recovery Act of 2008, Public Law 110-289, and any regulations promulgated thereunder. South Carolina’s Licensing of Mortgage Brokers Act can be found here and the accompanying regulation here. Activities Authorized Under This License This license authorizes the following activities: • First mortgage brokering • High cost home loans – Broker • Home equity lending/lines of credit – Broker • Manufactured housing financing – Broker • Reverse mortgage brokering • Second mortgage brokering • Third party mortgage loan processing • Third party mortgage loan underwriting Pre-Requisites for License Applications • Applicants must be located within the United States of America and its territories. The South Carolina Department of Consumer Affairs (“SC-DCA”) does not issue paper licenses for this license type.

Other South Carolina mortgage licenses

Sourced from the NMLS/CSBS state licensing record, last updated January 20, 2026. Requirements change — confirm against the state agency before filing. Not legal advice.

Stop missing the rule that costs you a loan.