(B) No person may earn, charge or collect mortgage brokerage or processing fees unless the person complies with the requirements of this Chapter, is authorized to provide mortgage brokerage services under this Chapter or is exempt from the requirements of this Chapter. (D) A mortgage broker fee agreement must be in writing and must include the current name, address and telephone number of the mortgage broker`s branch, the account number, if any, the date of the agreement, the name of the borrower or proposed borrower, the signature of the borrower and the mortgage broker, the amount of the fee and the type of services provided to the borrower. A copy of the agreement must be provided to the borrower by the mortgage broker. The mortgage brokerage contract may provide for a confirmation signed by the borrower of receipt of a copy of the contract. If a mortgage broker co-distributes mortgages, the mortgage brokerage agreement must include a statement informing the applicant that the loan can be co-negotiated. Within three days of the final decision on the mediation of a loan, the broker must provide the applicant with written notice of the mediation, including the name and mailing and mailing address of the co-broker, as well as the broker to contact regarding the progress of the mortgage broker`s services provided to the applicant. Each broker in a co-brokerage agreement must hold a licence with the administrator. (C) All fees charged for services provided as a mortgage broker must be disclosed to the applicant by the mortgage broker in accordance with federal or state regulations. (A) Within three business days of receiving a mortgage application, the broker must provide a mortgage broker fee agreement that discloses to the borrower the estimated total cost of the mortgage and a breakdown of the fees if required by federal or state law.

The disclosure will be deemed to have been delivered when filed with the U.S. Postal Service for first class delivery. Warning: These codes may not be the latest version. South Carolina may have more up-to-date or accurate information. We make no warranties or representations as to the accuracy, completeness or suitability of the information contained on this website or the information linked to the government website. Please check the official sources. (E) Additional disclosure requirements exist and must be met in accordance with Chapter 10 and Title 37 of Chapter 23. Former Laws: Act No. 172 of 1993, Section 1; Act No.

7, Section 1 of 2005. . .