The South Carolina Mortgage Broker Qualified Loan Originator Bond starts at $250 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The South Carolina Broker Dealer / Investment Adviser Bond starts at $350 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The South Carolina Credit Counseling Organization Bond starts at $250 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The South Carolina Mortgage Broker Special Deposit Bond starts at $250 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The South Carolina Mortgage Lender/Servicer Bond starts at $500 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The South Carolina Premium Service Company Bond starts at $500 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The United States Trustee US Trustee Program Nonprofit Budget and Credit Counseling Agency Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
Finance and mortgage broker bonds are legally binding agreements between three parties:
The bonds provide a guarantee that licensed finance professionals conduct business in compliance with the regulations set forth in the South Carolina Code of Laws
If the finance professional fails to comply with the regulations, the surety company will pay out financial losses to damaged parties up to the full bond amount. The finance professional is liable to reimburse the surety for any damages paid under the bond.
The required bond amount for finance bonds in the State of South Carolina varies depending on the license type:
The required bond costs for other finance bonds in South Carolina are as follows:
The surety company issuing the bond determines your premium rate, which is the percentage of the total bond amount you pay as the premium. Premium rates for South Carolina finance and mortgage broker bonds typically cost between 1% and 5% of the total bond amount. EZSurety has issued mortgage broker bonds in South Carolina for premiums as low as $250.
During the application process, the surety company evaluates your personal credit, financial statements, industry experience, and licensing history. Applicants with good credit generally receive the lowest rates, however, bad credit will not prevent you from securing a South Carolina finance bond. EZSurety still offers competitive rates to individuals with low credit scores or other financial issues.
To become a mortgage broker in South Carolina you must meet the following licensing requirements:
For information on obtaining other finance licenses in South Carolina, check out the NMLS Resource Center.
You’ll know if you need a surety bond because some entity will have required you to obtain one. They must also inform you of which specific bond type you’ll need. There are thousands of bonds across the country, all of which vary by state and industry.
Visit EZSuretyBonds.com to browse hundreds of bonds by state, type, or industry.
