Mortgage · South Carolina
South Carolina MLO courses, 100% online
Every RealEstateU course for South Carolina in one place: pre-licensing and continuing education. State-approved and self-paced.
Choose your South Carolina MLO course
South Carolina mortgage FAQs
No. South Carolina law does not permit multiple sponsorships, and the Department of Consumer Affairs applies this rule to sponsorships with companies licensed anywhere, not just in South Carolina. A loan originator must not be employed by more than one licensed mortgage lender (S.C. Code 37-22-120(E)) or more than one mortgage broker, and the license is not effective during any period the originator is not employed by a licensed company. The Department of Consumer Affairs asks anyone with more than one sponsorship to contact the agency before submitting an application.
Yes. The required 20 hours of pre-licensing education, including the 3 hours of South Carolina-specific content, are available online from NMLS-approved providers, and the coursework has no in-person requirement. Choose the state-specific component that matches your regulator: the Board of Financial Institutions for lender employees, or the Department of Consumer Affairs for broker-side originators, since education credit only applies to the matching license.
Yes, mostly. South Carolina mortgage broker applications are submitted through NMLS, though some items cannot be handled online: the original executed surety bond must be mailed to the Department of Consumer Affairs. The broker license requires a $550 fee plus a one-time $200 processing fee, a surety bond of at least $25,000, and at least 3 years of financial services experience.
Yes. You renew through NMLS during the annual window, November 1 through December 31, by submitting a renewal request, completing the attestation, and paying the renewal fee ($50 for a loan originator under South Carolina law). State regulators review each renewal for compliance with continuing education and background check requirements, and Qualified Mortgage Loan Originators must submit proof of a valid surety bond before a renewal request is accepted.
Yes, but only for a limited time. South Carolina MLO licenses expire December 31, and NMLS runs a reinstatement period from January 1 through the end of February, but state law cuts reinstatement eligibility off 30 days after expiration, so January 31 for Department of Consumer Affairs licensees. A late renewal adds a late fee of up to $100, and a license not renewed within 30 days after expiration triggers the full initial-licensure requirements.
Yes. The 20 hours of required pre-licensing education for a South Carolina MLO license are available online, including the 3 hours of South Carolina-specific content required under both state licensing agencies. Education providers offer the courses as self-paced online classes and live webinars, and course completions are reported to NMLS, though providers may take up to 7 days to report them.
Yes. In South Carolina, a mortgage lender license is applied for online through the Nationwide Multistate Licensing System (NMLS), with the State Board of Financial Institutions administering the license under the South Carolina Mortgage Lending Act. The filing fee is $1,000, and the lender must post a surety bond of at least $50,000 based on loan volume. Some documents, such as the original surety bond, must still be mailed to the agency.
Yes. Mortgage licensing runs state by state, and anyone working for a state-regulated non-bank mortgage company needs a license in that state, filed through NMLS. A state-licensed MLO seeking licensure in another state can work under temporary authority for up to 120 days while completing the new state's education or testing requirements, as long as the break between jobs is no more than 14 calendar days. South Carolina's statutes grant these transitional licenses as authorized by the SAFE Act.
No. A salaried processor or underwriter who works as an employee supervised by a licensed mortgage company is exempt from individual loan originator licensure in South Carolina. Independent-contractor processors and underwriters are treated differently: they must comply with the Licensing of Mortgage Brokers Act, though they are prohibited from originating mortgage loans.
It depends on the employment relationship. Processors and underwriters supervised by a licensee are exempt from South Carolina loan originator licensing. Independent-contractor processors and underwriters must comply with the Licensing of Mortgage Brokers Act and are prohibited from originating mortgage loans. Under the state's lender statute, independent contractors, except exempt persons, must be licensed separately.