Originator licensing law in South Carolina:

Regulating Agency:  SC Department of Consumer Affairs

An applicant for an originator's license must be at least eighteen years of age and must have at least six months of experience in residential mortgage lending or complete eight hours of continuing education within ninety days of employment. Our continuing education course that meets this requirement is "SC Loan Originator Fundamentals."  Additionally, all originators properly licensed before April 1, 2005, may act as originators after that date without regard to the experience or education requirement if they maintain compliance with the continuing professional education requirements.  Continuing education requirements are 8 hours completed annually by March 31st.  

The application for an originator license must designate the employing mortgage broker and must include descriptions of the business activities, educational background, and general character and fitness of the applicant as required by this chapter, including consent to a criminal records check. The application must be accompanied by a nonrefundable fee, payable to the department, of fifty dollars, in addition to the actual cost of obtaining state criminal history record checks by the South Carolina Law Enforcement Division.

'Originator' means an employee of a mortgage broker whose primary job responsibilities include direct contact with and informing mortgage applicants of the rates, terms, disclosure, and other aspects of the mortgage, including accepting or offering to accept applications for mortgages. It does not mean an employee, including processors, whose job responsibilities are limited to clerical and administrative tasks and who does not solicit borrowers or negotiate the rates, terms, disclosure, or other aspects of a mortgage on behalf of the employer which do not require licensure.

For more information on Originator and Broker Licensing Click Here.