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    South Carolina State Licenses and Regulator Costs

    Need a license?(888) 488-0747 State Mortgage Licensing Experts

    South Carolina hosts two regulators: the South Carolina State Board of Financial Institutions regulates mortgage companies that primarily lend, while the South Carolina State Board of Department of Consumer affairs regulates mortgage companies that primarily broker. We can hellp you to review your business plan to determine which license you need and can help you submit your plan to the state to get a final determination on which regulator will license and supervise your company.

      BFI - Mortgage Lender/Servicer License (Company)
    • NMLS Cost: $1,100
    • Additional Costs: $15 per credit report, $36.25 per criminal background check
    • Qualifying Individual: must meet SC mortgage loan originator requirements
    • Surety Bond Requirement: varies from $50,000 to $150,000 depending on volume (contact us for details); South Carolina requires a separate bond for each Trade Name
      BFI - Mortgage Lender/Servicer Branch License (Branch)
    • NMLS Cost: $170
    • Additional Costs: $15.00 per credit report, $36.25 per criminal background check
    • Branch Manager: must hold South Carolina BFI mortgage loan originator license
      BFI - Mortgage Loan Originator (Individual)
    • NMLS Cost: $80
    • Additional Costs: $15.00 per credit report, $36.25 per criminal background check
    • Education: South Carolina BFI requires three (3) hours of SC-approved pre-licensure education as part of your national education requirement
      DCA - Mortgage Broker License (Company)
    • NMLS Cost: $1450
    • Additional Costs: $15 per credit report, $36.25 per criminal background check
    • Qualifying Individual: must have three (3) years of residential mortgage lending experience and hold SC - DCA mortgage loan originator license
    • Surety Bond Requirement: $25,000
      DCA - Mortgage Broker Branch License (Branch)
    • NMLS Cost: $170
    • Additional Costs: $15.00 per credit report, $36.25 per criminal background check
    • Branch Manager: must hold South Carolina BFI mortgage loan originator license; must have at least three (3) years of residential mortgage lending experience
      DCA Mortgage Broker Loan Originator (Individual)
    • NMLS Cost: $80
    • Additional Costs: $15.00 per credit report, $36.25 per criminal background check
    • Education: South Carolina DCA requires three (3) hours of SC-approved pre-licensure education as part of your national education requirement
      DCA Mortgage Broker Qualified Loan Originator (Individual)
    • NMLS Cost: $130
    • Additional Costs: $15.00 per credit report, $36.25 per criminal background check
    • Education: South Carolina DCA requires three (3) hours of SC-approved pre-licensure education as part of your national education requirement
    • Surety Bond: $25,000
    • This license is for individuals who act as an agent (not an employee) of a single SC DCA licensed mortgage broker