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South Carolina mortgage license surety bonds
South Carolina Mortgage License Bonds
South Carolina mortgage lenders, mortgage servicers, mortgage brokers, mortgage loan originators, loan correspondents, table-funding brokers, independent contractor loan processors, underwriters, mortgage branches, and related mortgage businesses may need surety bond coverage for licensing with the South Carolina State Board of Financial Institutions, Consumer Finance Division, or the South Carolina Department of Consumer Affairs. Jet Insurance Company helps South Carolina mortgage professionals quote, purchase, renew, replace, and manage the bond required for their South Carolina mortgage license or NMLS filing.
Use this page to compare South Carolina Mortgage Lender/Servicer, Mortgage Broker, Qualified Loan Originator, Mortgage Loan Originator coverage, Loan Correspondent, Table-Funding, Third Party Processing and/or Underwriting, Mortgage Branch, and Mortgage Broker, Lender and/or Servicer bond requirements, view Jet pricing, and get filing support for your South Carolina mortgage license.
Need help? Call (855) 516-3348 or email [email protected].
Last updated: July 2026. South Carolina mortgage bond requirements can change. Confirm the final license type, regulator, branch status, managing principal or qualified individual requirement, loan volume, bond amount, bond form, NMLS record, and filing method before filing.
South Carolina Mortgage Bond Quick Answers
Which bonds are covered?
This page covers South Carolina Mortgage Lender/Servicer Bonds, Mortgage Broker Bonds, Qualified Loan Originator Bonds, Mortgage Loan Originator Bond Coverage, Loan Correspondent and Table-Funding Broker Coverage, Third Party Processing and/or Underwriting Coverage, Mortgage Branch requirements, and Mortgage Broker, Lender and/or Servicer Bonds.
Who regulates these licenses?
The South Carolina Consumer Finance Division regulates mortgage lender/servicer companies, branches, and MLOs. The South Carolina Department of Consumer Affairs regulates mortgage brokers, including loan correspondents, table-funding, and independent contractor processors and underwriters.
What are the common limits?
South Carolina lender/servicer bonds are $50,000, $100,000, or $150,000 based on South Carolina loan volume. Mortgage broker bonds are $25,000, $40,000, or $55,000 based on mortgage loans originated.
How do I get help?
Call (855) 516-3348 or email [email protected].
Choose Your South Carolina Mortgage License Bond
The correct South Carolina mortgage bond depends on whether the business is licensed as a mortgage lender/servicer through the South Carolina State Board of Financial Institutions Consumer Finance Division, licensed as a mortgage broker through the South Carolina Department of Consumer Affairs, or needs MLO, qualified loan originator, loan correspondent, table-funding, or third-party processor/underwriter coverage through an NMLS record.
Mortgage Lender/Servicer Bond
For South Carolina mortgage lenders and mortgage servicers licensed through the Consumer Finance Division.
Bond limits: $50,000, $100,000, or $150,000
Amount basis: South Carolina mortgage loan volume reported on the mortgage call report
Starting price: $249 for one year or $25 monthly for the $50,000 bond.
Mortgage Broker Bond
For South Carolina mortgage brokers licensed through the Department of Consumer Affairs.
Bond limits: $25,000, $40,000, or $55,000
Amount basis: Total dollar amount of mortgage loans originated in a calendar year
Starting price: $125 for one year or $13 monthly for the $25,000 bond.
Qualified Loan Originator Bond
For South Carolina mortgage broker qualified loan originator filings that require a separate bond.
Common bond limit: $25,000
Regulator: South Carolina Department of Consumer Affairs
Starting price: $125 for one year or $13 monthly for the $25,000 bond.
Mortgage Loan Originator Bond Coverage
For South Carolina MLOs working for licensed mortgage lenders/servicers or mortgage brokers.
Common coverage: Covered by the licensed mortgage lender/servicer or mortgage broker bond when eligible
Separate bond: Confirm current NMLS checklist if the MLO is not covered by an eligible company bond
Loan Correspondent and Table-Funding Coverage
For South Carolina businesses offering mortgage brokerage services through loan correspondent or table-funding activity.
Common license path: Mortgage Broker License through DCA using NMLS
Bond limits: $25,000, $40,000, or $55,000 under the mortgage broker bond schedule
Third Party Processing and/or Underwriting Coverage
For independent contractor third-party loan processors and underwriters that fall under South Carolina mortgage broker licensing.
Common license path: Mortgage Broker License through DCA using NMLS
Bond limits: $25,000, $40,000, or $55,000 under the mortgage broker bond schedule
Mortgage Branch Bond Guidance
For South Carolina mortgage branch filings tied to a licensed mortgage lender/servicer or mortgage broker company.
Common handling: Confirm whether the branch is covered by the company bond or whether a rider or separate filing is required
Filing path: NMLS branch record and state checklist
Broker, Lender and/or Servicer Bond
For businesses whose South Carolina or NMLS requirement references broader mortgage lender, servicer, broker, MLO, loan correspondent, table-funding, third-party processor, underwriter, or branch coverage.
Common limits: $25,000 to $150,000 depending on license type and South Carolina loan volume
Starting price: $125 for one year for a $25,000 broker bond or $249 for one year for a $50,000 lender/servicer bond.
Important: South Carolina mortgage lenders/servicers and mortgage brokers are regulated under different South Carolina laws and agencies. Mortgage lender/servicer bond limits are $50,000, $100,000, and $150,000. Mortgage broker bond limits are $25,000, $40,000, and $55,000. Loan correspondents, table-funding, and independent contractor third-party loan processors and underwriters are included under South Carolina mortgage broker licensing. Confirm the current NMLS checklist and bond form before ordering.
South Carolina Mortgage License Bond Pricing
Jet pricing below follows the same mortgage bond pricing method used on the other state pages, with a $79 minimum one-year premium. The one-year price is generally 0.5% of the bond limit. If the calculated one-year price ends in zero, Jet subtracts $1 before calculating multi-year options. The two-year price is 1.75 times the one-year price, and the three-year price is 2.5 times the one-year price. Monthly pricing is 10% of the one-year price, rounded when needed.
| Bond Limit | Common South Carolina Use | Monthly | 1 Year | 2 Years | 3 Years |
|---|---|---|---|---|---|
| $25,000 | Mortgage Broker Bond lowest tier or Qualified Loan Originator Bond | $13 | $125 | $219 | $313 |
| $40,000 | Mortgage Broker Bond middle tier | $20 | $199 | $348 | $498 |
| $50,000 | Mortgage Lender/Servicer Bond lowest tier | $25 | $249 | $436 | $623 |
| $55,000 | Mortgage Broker Bond highest tier | $28 | $275 | $481 | $688 |
| $100,000 | Mortgage Lender/Servicer Bond middle tier | $50 | $499 | $873 | $1,248 |
| $150,000 | Mortgage Lender/Servicer Bond highest tier | $75 | $749 | $1,311 | $1,873 |
Pricing shown is preferred-tier pricing and may vary based on underwriting approval, bond form, selected term, effective date, final required bond amount, license type, regulator, NMLS filing status, South Carolina loan volume, branch status, and agency requirements.
Get South Carolina Mortgage Bond Pricing
Start a quote online and select the South Carolina bond that matches your license or NMLS checklist. Jet can help confirm whether you need a Mortgage Lender/Servicer Bond, Mortgage Broker Bond, Qualified Loan Originator Bond, Mortgage Loan Originator coverage, Loan Correspondent or Table-Funding coverage, Third Party Processor/Underwriter coverage, Mortgage Branch bond help, or Mortgage Broker, Lender and/or Servicer Bond.
Questions? Call (855) 516-3348 or email [email protected].
South Carolina Mortgage Bond Requirements
South Carolina mortgage lender/servicer companies, branches, and mortgage loan originators must complete NMLS records and submit them to the Consumer Finance Division for approval. South Carolina mortgage brokers, including loan correspondents, table-funding businesses, and independent contractor third-party processors and underwriters, file with the South Carolina Department of Consumer Affairs using NMLS.
South Carolina mortgage lender/servicer bond amounts are based on the licensee’s South Carolina mortgage loan volume reported on the mortgage call report. South Carolina mortgage broker bond amounts are based on the total dollar amount of mortgage loans originated in a calendar year.
| South Carolina License or Authority | Bond Amount | How the Requirement Works | Quote |
|---|---|---|---|
| Mortgage Lender/Servicer License | $50,000, $100,000, or $150,000 | Required by SC-BFI Consumer Finance Division; amount is based on South Carolina loan volume reported on the mortgage call report. | Get Quote |
| Mortgage Broker License | $25,000, $40,000, or $55,000 | Required by the South Carolina Department of Consumer Affairs; amount is based on total dollar amount of mortgage loans originated in a calendar year. | Get Quote |
| Qualified Loan Originator Bond | Commonly $25,000 | Used for mortgage broker qualified loan originator filings when required by DCA bond form or checklist. | Get Quote |
| Mortgage Loan Originator Coverage | Covered by company bond when eligible; otherwise confirm current checklist | South Carolina MLOs must be licensed and sponsored. Confirm whether coverage is provided by the licensed mortgage lender/servicer or mortgage broker bond. | Get Help |
| Loan Correspondent or Table-Funding | $25,000, $40,000, or $55,000 | South Carolina DCA states mortgage broker licensing includes loan correspondents and table-funding. Use the mortgage broker bond schedule unless the current checklist states otherwise. | Get Help |
| Independent Contractor Third Party Processor or Underwriter | $25,000, $40,000, or $55,000 | South Carolina DCA states mortgage broker licensing includes independent contractor third-party loan processors and underwriters. Use the mortgage broker bond schedule unless the current checklist states otherwise. | Get Help |
| Mortgage Branch | Confirm company bond, branch record, and current NMLS checklist | Each principal office and branch office may need a license or NMLS branch record. Confirm whether branch activity is covered by the company bond or requires a bond rider. | Get Help |
| Mortgage Broker, Lender and/or Servicer | $25,000 to $150,000 depending on license type | Use the lender/servicer schedule for SC-BFI mortgage lender/servicer licenses and the mortgage broker schedule for DCA mortgage broker, loan correspondent, table-funding, or independent contractor processor/underwriter filings. | Get Quote |
Filing note: South Carolina mortgage licenses are maintained through NMLS, but the regulator and bond form depend on the license type. Confirm whether the filing is under SC-BFI Consumer Finance Division or South Carolina Department of Consumer Affairs before ordering the bond.
South Carolina Mortgage Bond Amounts
South Carolina uses separate bond schedules for mortgage lender/servicer licenses and mortgage broker licenses. Lender/servicer bonds are handled by the Consumer Finance Division. Mortgage broker bonds are handled by the Department of Consumer Affairs.
Mortgage Lender/Servicer Bond Amounts
| South Carolina Mortgage Loan Volume | Required Bond Amount | Jet Monthly Price | Jet 1-Year Price |
|---|---|---|---|
| $0 to $49,999,999 | $50,000 | $25 | $249 |
| $50,000,000 to $249,999,999 | $100,000 | $50 | $499 |
| $250,000,000 and greater | $150,000 | $75 | $749 |
Mortgage Broker Bond Amounts
| Total Dollar Amount of Mortgage Loans Originated | Required Bond Amount | Jet Monthly Price | Jet 1-Year Price |
|---|---|---|---|
| $0 to $49,999,999 | $25,000 | $13 | $125 |
| $50,000,000 to $99,999,999 | $40,000 | $20 | $199 |
| Greater than $100,000,000 | $55,000 | $28 | $275 |
Other South Carolina Mortgage Bond References
| South Carolina Requirement | Common Bond Amount | Jet Monthly Price | Jet 1-Year Price |
|---|---|---|---|
| Qualified Loan Originator Bond | $25,000 | $13 | $125 |
| Loan Correspondent or Table-Funding Coverage | $25,000, $40,000, or $55,000 under broker schedule | Varies | Varies |
| Independent Contractor Processor or Underwriter Coverage | $25,000, $40,000, or $55,000 under broker schedule | Varies | Varies |
| MLO Coverage | Covered by company bond when eligible; otherwise confirm checklist | Varies | Varies |
Volume note: South Carolina mortgage lender/servicer bond amounts are tied to South Carolina loan volume reported on the mortgage call report. South Carolina mortgage broker bond amounts are tied to the total dollar amount of mortgage loans originated in a calendar year. Confirm whether a new applicant uses anticipated volume, minimum amount, or another checklist instruction before filing.
South Carolina Mortgage Lender/Servicer Bond
The South Carolina Mortgage Lender/Servicer Bond applies to mortgage lenders and mortgage servicers licensed through the South Carolina State Board of Financial Institutions, Consumer Finance Division. The bond is executed to the commissioner and is for the use of the State and consumers who have losses or damages as a result of noncompliance by the mortgage lender.
License Type
South Carolina Mortgage Lender/Servicer License.
Bond Limits
$50,000, $100,000, or $150,000 based on South Carolina mortgage loan volume.
Starting Price
$249 for one year or $25 monthly for the $50,000 bond.
Use this option when the South Carolina or NMLS checklist references Mortgage Lender/Servicer License, Mortgage Lender License, Mortgage Servicer License, SC-BFI, Consumer Finance Division, residential mortgage lending, or mortgage servicing authority.
South Carolina Mortgage Broker Bond
The South Carolina Mortgage Broker Bond applies to mortgage brokers licensed through the South Carolina Department of Consumer Affairs. South Carolina law requires the bond amount to be based on the total dollar amount of mortgage loans originated in a calendar year.
License Type
South Carolina Mortgage Broker License.
Bond Limits
$25,000, $40,000, or $55,000 based on total mortgage loan origination volume.
Starting Price
$125 for one year or $13 monthly for the $25,000 bond.
Use this option when the South Carolina or NMLS checklist references Mortgage Broker License, DCA, loan correspondent, table-funding, independent contractor loan processor, independent contractor underwriter, or South Carolina mortgage brokerage services.
South Carolina Qualified Loan Originator Bond
The South Carolina Qualified Loan Originator Bond may apply to mortgage broker qualified loan originator filings when required by the Department of Consumer Affairs bond form or current NMLS checklist. South Carolina DCA bond form references a $25,000 qualified loan originator bond requirement for mortgage broker qualified loan originator coverage.
Coverage Type
Mortgage broker qualified loan originator bond coverage.
Common Bond Limit
$25,000.
Jet Pricing
$125 for one year, $13 monthly, $219 for two years, or $313 for three years.
Use this option when the South Carolina or NMLS checklist references Qualified Loan Originator, QLO, QI, mortgage broker qualified loan originator, or a separate DCA qualified loan originator bond form.
South Carolina Mortgage Loan Originator Bond Coverage
South Carolina mortgage loan originators must complete an NMLS record and submit it to the appropriate South Carolina regulator for approval. For mortgage lender/servicer companies, the Consumer Finance Division requires the managing principal or qualified individual to be licensed as a South Carolina MLO and maintain that license.
MLO bond coverage is commonly tied to the licensed mortgage lender/servicer or mortgage broker bond when the MLO is employed by or sponsored by the licensed company. Confirm the current NMLS checklist before purchasing separate MLO coverage.
License Type
South Carolina Mortgage Loan Originator License.
Common Coverage
Company bond coverage through a licensed mortgage lender/servicer or mortgage broker when eligible.
Separate Coverage
Confirm the current NMLS checklist and regulator instructions if the MLO is not covered by an eligible company bond.
Before ordering separate MLO coverage, confirm whether the MLO is covered by the licensed company’s bond and whether the MLO sponsorship is active and correctly shown in NMLS.
South Carolina Loan Correspondent and Table-Funding Bond Coverage
The South Carolina Department of Consumer Affairs states that the Mortgage Broker Act requires businesses offering mortgage brokerage services, including loan correspondents and table-funding, to file with DCA using NMLS. Because these activities are included under the mortgage broker licensing framework, the South Carolina Mortgage Broker Bond schedule generally applies unless the current NMLS checklist or Department instructions state otherwise.
Activity Type
Loan correspondent, table-funding, or mortgage brokerage services.
Common Bond Limits
$25,000, $40,000, or $55,000 under the mortgage broker bond schedule.
Starting Price
$125 for one year for a $25,000 bond.
Use this option when the South Carolina or NMLS checklist references loan correspondent, table-funding, mortgage broker, DCA mortgage broker license, or mortgage brokerage services.
South Carolina Third Party Processing and/or Underwriting Coverage
South Carolina DCA states that the Mortgage Broker Act includes independent contractor third-party loan processors and underwriters. Businesses providing these services should review the South Carolina mortgage broker license path, NMLS checklist, and mortgage broker bond schedule.
Activity Type
Independent contractor third-party loan processing or underwriting.
Common Bond Limits
$25,000, $40,000, or $55,000 under the mortgage broker bond schedule.
Starting Price
$125 for one year for a $25,000 bond.
Use this option when the South Carolina or NMLS checklist references third-party processor, independent contractor processor, third-party underwriter, independent contractor underwriter, mortgage broker license, or DCA mortgage broker filing.
South Carolina Mortgage Branch Bond Guidance
South Carolina mortgage lender/servicer companies and branches must complete NMLS records and submit them to the Consumer Finance Division for approval. South Carolina law also requires each principal office and each branch office of a licensed mortgage lender where business is conducted to be licensed.
The branch bond treatment depends on the company license, branch record, NMLS checklist, and whether a rider or other bond update is required. Confirm the current branch instructions before ordering separate bond coverage.
Filing Type
South Carolina mortgage branch record or branch license.
Bond Handling
Confirm whether the branch is covered by the company bond or needs a rider or separate filing.
Jet Help
Jet can help review the bond amount, company record, branch status, and rider needs before filing.
South Carolina Mortgage Broker, Lender and/or Servicer Bond
The South Carolina Mortgage Broker, Lender and/or Servicer Bond option is for mortgage businesses whose NMLS or South Carolina requirement references broader mortgage authority, including mortgage lender, mortgage servicer, mortgage broker, MLO, qualified loan originator, loan correspondent, table-funding, third-party processing, underwriting, or branch coverage.
Authority Type
South Carolina mortgage lender, mortgage servicer, mortgage broker, MLO sponsor, qualified loan originator, loan correspondent, table-funding, third-party processor, or third-party underwriter.
Common Bond Limits
$25,000 to $150,000 depending on license type and South Carolina loan volume.
Starting Price
$125 for one year for a $25,000 mortgage broker bond or $249 for one year for a $50,000 mortgage lender/servicer bond.
Use this option when the South Carolina or NMLS requirement references mortgage broker, mortgage lender, mortgage servicer, MLO coverage, loan correspondent, table-funding, third-party processing, third-party underwriting, or combined mortgage activity rather than a narrower bond title.
South Carolina Mortgage Bond Comparison
South Carolina mortgage bond requirements depend on the license type, regulating agency, South Carolina loan volume, whether the business is acting as a lender/servicer or broker, and whether the filing involves MLO, qualified loan originator, loan correspondent, table-funding, third-party processing, or underwriting coverage.
| Requirement | Regulator | Bond Amount | Main Filing Point |
|---|---|---|---|
| Mortgage Lender/Servicer Bond | SC-BFI Consumer Finance Division | $50,000, $100,000, or $150,000 based on South Carolina loan volume | NMLS company license record |
| Mortgage Broker Bond | South Carolina Department of Consumer Affairs | $25,000, $40,000, or $55,000 based on mortgage loans originated | NMLS company license record |
| Qualified Loan Originator Bond | South Carolina Department of Consumer Affairs | Commonly $25,000 when required | NMLS or DCA bond form |
| MLO Coverage | SC-BFI or DCA depending on company license | Covered by company bond when eligible; otherwise confirm checklist | NMLS MLO license and sponsorship record |
| Loan Correspondent or Table-Funding Coverage | South Carolina Department of Consumer Affairs | $25,000, $40,000, or $55,000 under mortgage broker schedule | NMLS mortgage broker license record |
| Third Party Processor or Underwriter Coverage | South Carolina Department of Consumer Affairs | $25,000, $40,000, or $55,000 under mortgage broker schedule | NMLS mortgage broker license record |
| Mortgage Branch | SC-BFI or DCA depending on license | Confirm company bond, rider, and checklist | NMLS branch record |
How South Carolina Mortgage Bond Quotes Work
1
Confirm the South Carolina License
Identify whether the checklist references Mortgage Lender/Servicer, Mortgage Broker, Qualified Loan Originator, MLO, Loan Correspondent, Table-Funding, Third Party Processing, Third Party Underwriting, Mortgage Branch, or another South Carolina mortgage requirement.
2
Confirm the Bond Amount
Use the $50,000 to $150,000 schedule for SC-BFI mortgage lender/servicer bonds and the $25,000 to $55,000 schedule for DCA mortgage broker bonds. Confirm QLO, MLO, branch, and processor/underwriter coverage through the current checklist.
3
Buy and File
After purchase, Jet provides the bond or filing guidance based on the current South Carolina agency and NMLS process.
Need a South Carolina Mortgage License Bond?
Jet can help you choose the correct South Carolina Mortgage Lender/Servicer Bond, Mortgage Broker Bond, Qualified Loan Originator Bond, MLO coverage, Loan Correspondent or Table-Funding coverage, Third Party Processor/Underwriter coverage, Mortgage Branch bond guidance, or Mortgage Broker, Lender and/or Servicer Bond, review pricing, and get the bond issued for licensing.
South Carolina mortgage bond pricing starts at $125 for one year for a $25,000 Mortgage Broker Bond and $249 for one year for a $50,000 Mortgage Lender/Servicer Bond.
Questions? Call (855) 516-3348 or email [email protected].
How Are South Carolina Mortgage Bonds Filed?
South Carolina mortgage lender/servicer, branch, mortgage broker, and mortgage loan originator filings use NMLS, but the regulating agency depends on the license type. Mortgage lender/servicer filings are handled by the South Carolina State Board of Financial Institutions Consumer Finance Division. Mortgage broker filings are handled by the South Carolina Department of Consumer Affairs.
The bond should match the legal name, NMLS ID, license type, regulator, bond amount, effective date, South Carolina loan volume, and any branch or MLO sponsorship details required by the current checklist. If the required bond amount changes, South Carolina Consumer Finance Division instructs licensees to mail a surety bond rider with original signatures to the Division.
NMLS Filing
The South Carolina mortgage bond should match the NMLS record, legal name, license type, bond amount, regulator, and effective date.
Agency Match
Confirm whether the bond is for SC-BFI Consumer Finance Division or South Carolina Department of Consumer Affairs before ordering.
Bond Changes
Contact Jet before changing the legal name, DBA, NMLS ID, regulator, license type, branch record, loan volume, bond amount, or MLO sponsorship.
South Carolina Mortgage Bond Renewals, Changes, and Cancellations
Renewing Your Bond
Keep the required South Carolina mortgage bond current throughout the license period. Review the bond before renewal to confirm the legal name, NMLS ID, license type, regulator, South Carolina loan volume, bond amount, branch record, and MLO coverage remain correct.
Changing the Bond
A bond change may be required if South Carolina loan volume, license type, branch status, MLO sponsorship, regulator, legal name, DBA, or NMLS record changes. Contact Jet before making a bond-related NMLS update.
Cancelling or Replacing Your Bond
South Carolina mortgage lender and broker statutes state the license expires upon bond termination unless a new bond is filed before the prior bond terminates. Do not cancel a required South Carolina mortgage bond until replacement coverage is accepted or the license no longer requires coverage.
What Does a South Carolina Mortgage License Bond Cover?
A South Carolina mortgage license bond supports compliance with South Carolina mortgage lending or mortgage broker laws. The mortgage lender/servicer bond is for the use of the State for recovery of expenses, fines, and fees and for consumers who have losses or damages as a result of noncompliance by the mortgage lender. The mortgage broker bond is for the use of the State and consumers who have losses or damages as a result of noncompliance by the mortgage broker.
The bond is not insurance for the bonded mortgage company, broker, lender, servicer, qualified loan originator, processor, underwriter, or MLO. If Jet pays a valid claim, the bonded principal is responsible for reimbursing Jet for the amount paid and related costs under the indemnity agreement.
How to Avoid South Carolina Mortgage Bond Claims
- Maintain continuous bond coverage for the correct South Carolina mortgage lender/servicer, mortgage broker, qualified loan originator, MLO, branch, loan correspondent, table-funding, third-party processor, or third-party underwriter requirement.
- Match the bond to the exact legal name, DBA, NMLS ID, license type, regulator, required bond amount, and effective date.
- Use the correct South Carolina loan volume to determine the mortgage lender/servicer bond amount.
- Use the correct mortgage loan origination volume to determine the mortgage broker bond amount.
- Confirm whether each MLO is covered by an eligible company bond before purchasing separate coverage.
- Confirm whether loan correspondent, table-funding, third-party processing, or underwriting activity requires mortgage broker licensing through DCA.
- Do not conduct South Carolina mortgage lending, servicing, brokering, origination, processing, underwriting, or branch activity without the correct license, sponsorship, and bond coverage.
- Do not advertise or represent loan terms in a false, misleading, or deceptive way.
- Maintain required mortgage logs, mortgage call reports, financial condition reports, loan files, consumer disclosures, complaint records, and branch records.
- Submit renewals, reports, bond riders, license amendments, branch changes, and NMLS updates on time.
- Maintain any required managing principal, qualified individual, branch manager, financial responsibility, or experience requirement in addition to the surety bond.
- Contact Jet before cancelling, replacing, or changing the bond.
Want to Know More About Mortgage Bond Processes?
Popular Mortgage License Bond Guides
South Carolina Mortgage License Bond FAQ
What South Carolina mortgage bonds are covered on this page?
This page covers South Carolina Mortgage Lender/Servicer Bonds, Mortgage Broker Bonds, Qualified Loan Originator Bonds, Mortgage Loan Originator bond coverage, Loan Correspondent and Table-Funding coverage, Third Party Processing and/or Underwriting coverage, Mortgage Branch bond guidance, and Mortgage Broker, Lender and/or Servicer Bonds.
What is the South Carolina Mortgage Lender/Servicer Bond amount?
The South Carolina Mortgage Lender/Servicer Bond amount is $50,000, $100,000, or $150,000 based on South Carolina mortgage loan volume.
How much does a South Carolina Mortgage Lender/Servicer Bond cost?
Jet pricing for a $50,000 South Carolina Mortgage Lender/Servicer Bond is $249 for one year, $25 monthly, $436 for two years, or $623 for three years. Higher limits cost more.
What is the South Carolina Mortgage Broker Bond amount?
The South Carolina Mortgage Broker Bond amount is $25,000, $40,000, or $55,000 based on the total dollar amount of mortgage loans originated in a calendar year.
How much does a South Carolina Mortgage Broker Bond cost?
Jet pricing starts at $125 for one year or $13 monthly for the $25,000 Mortgage Broker Bond. The $40,000 bond is $199 for one year, and the $55,000 bond is $275 for one year.
Are South Carolina loan correspondents and table-funding businesses covered under mortgage broker licensing?
Yes. The South Carolina Department of Consumer Affairs states that mortgage broker licensing includes loan correspondents and table-funding businesses. These filings generally use the mortgage broker bond schedule unless the current checklist states otherwise.
Do South Carolina third-party processors and underwriters need a mortgage broker bond?
South Carolina DCA states that the Mortgage Broker Act includes independent contractor third-party loan processors and underwriters. These businesses should review the mortgage broker license and bond checklist before filing.
Does a South Carolina mortgage loan originator need a separate bond?
Not always. MLO coverage is commonly handled through a licensed mortgage lender/servicer or mortgage broker bond when eligible. Confirm the current South Carolina NMLS checklist before purchasing separate coverage.
Who regulates South Carolina mortgage license bonds?
The South Carolina State Board of Financial Institutions Consumer Finance Division regulates mortgage lender/servicer companies, branches, and MLOs. The South Carolina Department of Consumer Affairs regulates mortgage brokers, including loan correspondents, table-funding, and independent contractor processors and underwriters.
Who should I contact for South Carolina mortgage bond help?
Call Jet at (855) 516-3348, email [email protected], or start a quote online for help choosing, purchasing, renewing, replacing, or changing a South Carolina mortgage bond.
Get the South Carolina Mortgage Bond Required for Your License
Start by choosing the South Carolina bond that matches your license, company record, regulator, loan volume, MLO coverage, loan correspondent activity, table-funding activity, processor/underwriter activity, branch status, or NMLS checklist. Jet will help with quoting, bond purchase, renewal support, and filing guidance when applicable.
South Carolina mortgage bond pricing starts at $125 for one year for a $25,000 Mortgage Broker Bond and $249 for one year for a $50,000 Mortgage Lender/Servicer Bond.
Call: (855) 516-3348
Email: [email protected]