South Carolina Mortgage Broker Qualified Loan Originator Special Deposit Bond
Flat Rates & No Credit Check
| Bond Amount Required | Bond Term | Annual Premium |
| $25,000 | 1 Year | $150 |
South Carolina requires a Mortgage Broker Qualified Loan Originator to maintain a $25,000 special deposit surety bond. The bond is filed in connection with the qualified loan originator licensing requirements administered by the South Carolina Department of Consumer Affairs.
Cost of the South Carolina Mortgage Broker Qualified Loan Originator Bond
NNA Surety has the $25,000 South Carolina Mortgage Broker Qualified Loan Originator Special Deposit Bond at a $150 premium for a 1-year term. Complete this form to receive your bond today.
How the Bond Works
The bond is issued for the benefit of the State of South Carolina and consumers who may have a cause of action arising from covered conduct. Under the official bond form, the Department may recover the $25,000 penal sum when the principal fails to comply with the Licensing of Mortgage Brokers Act or fails to provide contracted mortgage broker services, following the required notice and hearing process.
Principal: South Carolina Mortgage Broker Qualified Loan Originator
Obligee/Beneficiary: South Carolina Department of Consumer Affairs / Administrator
Surety: Surety company authorized to transact business in South Carolina
How to Get the South Carolina Mortgage Broker Qualified Loan Originator Bond
- Confirm that the applicant is applying for the South Carolina Mortgage Broker Qualified Loan Originator license category.
- Complete the online bond application through the NNA/Propeller affiliate link.
- Purchase the required $25,000 bond and pay the confirmed $150 annual premium.
- Execute the South Carolina Department of Consumer Affairs-approved QMLO bond form.
- Follow the current NMLS/DCA instructions for uploading and submitting the fully executed bond.
Review the South Carolina Department of Consumer Affairs mortgage broker licensing page and official Mortgage Broker Qualified Loan Originator Special Deposit Bond form for current filing requirements.
Get Your South Carolina Mortgage Broker Qualified Loan Originator Bond
Start your South Carolina QMLO Special Deposit Bond application online.
For assistance, call 855-215-2160.