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South Carolina Mortgage Lender/Servicer Bond

Bond Details

  • SC Mortgage Lender/Servicer Bond – $50,000 bond – $300 per year
  • SC Mortgage Lender/Servicer Bond – $100,000 bond – $600 per year
  • SC Mortgage Lender/Servicer Bond – $150,000 bond – $900 per year

Overview

In South Carolina, the Department of Consumer Affairs requires mortgage lenders and servicers to obtain a mortgage lender and servicer bond as part of the licensing process. This bond is designed to offer financial protection to clients and the state in the event they are harmed financially by the actions of the licensee.

The bond's liability amount varies between $50,000 and $150,000 depending on the previous calendar year's closed mortgages. The NNA has secured a $300 to $900 flat rate for all South Carolina mortgage lenders and servicers without a credit check.