South Carolina Mortgage Broker Fee Agreement Form

(D) A mortgage fee agreement must be made in writing and must include the name, address and telephone number of the mortgage broker`s branch, bank account number, if any, date of agreement, name of proposed borrower or borrower, signature of borrower and mortgage broker, fee amount and nature of services provided to the borrower. A copy of the contract must be provided to the borrower by the mortgage broker. The arm mortgage agreement may provide for a signed confirmation by the borrower of obtaining a copy of the agreement. When a mortgage broker holds mortgages, the mortgage agreement to be armed must contain a statement telling the applicant that the loan can be co-matched. Within three days of a final decision on the brokerage of a loan, the broker must send the applicant a written notice of coredration, including the name and street and postal address of the co-broker, as well as the broker who must be contacted regarding the advancement of the mortgage broker`s services provided to the applicant. Any broker in a co-brokerage contract must be authorized with the administrator. Non-responsibility: These codes may not be the latest version. South Carolina may have more up-to-date or more accurate information. We do not provide any guarantee or guarantee as to the accuracy, completeness or relevance of the information contained in this website or information related to the state website. Check the official sources. (A) Within three business days of receiving a mortgage application, the broker must submit an agreement on mortgage broker fees that will disclose to the borrower the estimated total cost of the mortgage and a breakdown of the costs, if any, under federal or national law. Disclosure is deemed to be delivered if it is filed with the U.S.

Postal Service for first-class delivery. (B) A person shall not earn, charge or charge a mortgage broker or processing fee unless the person meets the requirements of this chapter, is authorized to provide mortgage intermediation services or is exempt from the requirements of this chapter under this chapter. (C) All fees collected for services as mortgage brokers must be disclosed to the applicant by the mortgage broker in accordance with federal or national law. . (E) There are additional advertising obligations that must be met in accordance with Chapter 10 and Chapter 23, Title 37. Previous Act:1993 Act 172, Section 1; Law 7, Section 1. . ..