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South Carolina Mortgage Broker, Lender or Servicer Bond

South Carolina Mortgage Broker, Lender or Servicer Bond

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Who Requires the Mortgage Broker, Lender or Servicer Bond and Why Is It Needed?

Mortgage Broker or Lender Special Deposit Bonds are surety bonds that must be continuously maintained by all licensed mortgage brokers and lenders operating in the State of South Carolina pursuant to Section 40-58-40 of the Code of Laws of South Carolina. In accordance with the terms of state laws, the surety bond must be deposited with the Administrator of the S.C. Department of Consumer Affairs as security in the event that the bonded mortgage broker or lender fails to comply with the Licensing of Mortgage Brokers Act, S.C. Code § 40-58-10 et seq. or fails to provide contracted mortgage broker services to customers. The surety bond liability may be terminated through written notice from the surety company to the Administrator after forty five days from the date of such notice.

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your South Carolina Mortgage Broker, Lender or Servicer Bond. The quote request is free and there is no obligation to you. If you prefer, please call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.

If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.

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Surety Bonds Direct, LLC, Bonds Surety & Fidelity, Charleston, SC
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