South Carolina disclosure requirements

At the time of application for any mortgage loan, the broker must provide a document specifying the agency designated to receive complaints, with telephone number and address (S.C. Code § 37-23-70(D)). For high-cost home loans, before closing and upon receipt of the good faith estimate under RESPA, the broker must provide a disclosure form itemizing yield spread premium, points, fees, commissions, and ARM reset schedule, and the borrower must sign acknowledging receipt and understanding (S.C. Code § 37-23-45). For consumer home loans (non-high-cost), a similar disclosure is required at the time of receiving the loan estimate under TILA-RESPA Integrated Disclosure Rule and before closing (S.C. Code § 37-23-75).