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1 Hour SC-BFI SAFE: South Carolina Mortgage Regulations

South Carolina CE 1 Hour Online Self-Study CE Elective

1 hour state-specific online continuing education course for South Carolina BFI mortgage loan originators.

$9.75 $19.50
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Included Standard:

Printable Certificate PDF & EPUB eBook

Printable Certificate

Download and print your own certificate.

PDF & EPUB eBook

Includes PDF/EPUB eBook of all reading material for your tablet or Kindle.

The South Carolina Board of Financial Institutions (BFI) require those who hold a South Carolina mortgage license to completed a one-hour course on South Carolina mortgage laws and regulations as a requirement for annual license renewal. This online course covers the required topics as defined by the BFI for license renewal through the NMLS.

Please review the Course Syllabus for more details about this course.

This course satisfies 1 hour of required continuing education for South Carolina BFI licensed mortgage loan originators. This course is approved by the NMLS. A valid NMLS ID number is required to receive credit for this course. Certain states may have additional requirements beyond what this course provides. Be sure to check with your state to see if this course meets your needs.

This course is new for 2020 and meets the SAFE Act's "successive years" rule.

Summary

Price: $9.75 (USD)
$19.50 (50% Discount)
+ $1.50 NMLS Credit Banking Fee
Hours: 1 Hour
Category: Mortgage > Continuing Education > South Carolina > CE Elective
Purpose: 1 hour state-specific online continuing education course for South Carolina BFI mortgage loan originators.
Features: printable certificate, PDF eBook

Courses Provided By:

OnlineEd
7405 SW Beveland Rd,
Portland, OR 97223
(503) 670-9278
mail@onlineed.com

Terms of Service:

Purchase of this package requires that you read and acknowledge a Terms of Service agreement before receiving credit for any courses contained in this package. Please review the following:

1 Hour SC-BFI SAFE: South Carolina Mortgage Regulations

NMLS Course ID: XXXXXX

NMLS Sponsor ID: 1400327

Hours Provided: 1

Category: CE Elective

View Course Syllabus

The South Carolina Board of Financial Institutions (BFI) require those who hold a South Carolina mortgage license to completed a one-hour course on South Carolina mortgage laws and regulations as a requirement for annual license renewal. This online course covers the required topics as defined by the BFI for license renewal through the NMLS.

This course is approved for South Carolina BFI licensees. If you are licensed with the DCA, please purchase the course titled "1 Hour SC-DCA SAFE: South Carolina Mortgage Regulations" (NMLS ID XXXXX).

Topics and Learning Objectives

This course consists of four modules and a final exam:

  1. Overview of the BFI and SCDCA (7 minutes)
  2. Mortgage Regulations (15 minutes)
  3. Updates to the Mortgage Broker Act and Mortgage Lending Act (8 minutes)
  4. Required Topics (10 minutes)
  5. Final exam (10 minutes)

Total study time: 1 credit hours

This course will prepare South Carolina-licensed MLOs to:

  • Outline the divisions of the Board of Financial Institutions and the Department of Consumer Affairs
  • Review both agency's mission statement and purpose
  • Explain when to provide the attorney insurance preference form
  • Identify where licensee NMLS IDs are required on documents
  • Describe how to comply with state regulations when a licensed lender acts as a mortgage broker
  • Explain how to properly disclose fees on mortgage broker fee agreements and the timeline in which the agreement must be provided
  • Recognize the importance of signing forms correctly
  • Review the disclosure requirements that identifies which agency consumers may submit complaints or inquiries to
  • Describe how South Carolina law varies from federal law regarding prohibited activities and the mortgage broker fee agreement
  • Outline the mortgage log requirements
  • Identify the changes made to several key definitions
  • Outline the update to the criminal background check and testing requirements for license applicants
  • Recognize when a residence can be recognized an a branch office
  • Review updated exemptions in mortgage lending laws
  • Describe the change to the physical presence for mortgage brokers
  • Review the reasons why the BFI and SCDCA would initiate an examination of a licensee's records
  • Describe prohibited acts when advertising mortgage products
  • Outline the notification steps the BFI and SCDCA make when issuing an order against a licensee
  • Review additional prohibited acts licensee cannot participate in
  • Define penalty amounts for violations of South Carolina mortgage laws

NMLS ID Required

You must have an NMLS ID to receive credit for this course. You will need this number before you begin the course.

If you already have an NMLS ID but don't remember what it is:

  • Login into NMLS
  • Click on the Composite View tab.
  • Click View Individual on the sub-header row.
  • The number that appears in parentheses after your name is your NMLS ID number.

If you do not have an NMLS ID and need to obtain one, use the instructions available in the NMLS Resource Center.

This course will remain available to students for 365 days after enrollment.

Our Mission Statement

To provide superior distance education that exceeds industry standards and expectations in course content and delivery methods to those who seek to enter a new profession and those engaged in a profession.