Cx3525 is provided pursuant to the requirements of S.C. Code Ann. §§ 37-22-140(K), 37-23-45, 37-23-75, 40-58-75, 40-58-75, 40-58-78(A), & S.C. Reg. 28-400(B)(1)(c) and closely matches the sample form published by the South Carolina Department of Consumer Affairs (available at: https://consumer.sc.gov/business-resourceslaws/licensing/mortgage-broker/forms).
We will be modifying Cx3525 to more closely align with the latest revision of the “Fee Agreement Sample”. These changes include updating the revision date (from “01/2017” to “11/2020”), elongating the street address in the “Borrower Complaints” section, and minor changes to punctuation.
Please note that we will continue to deviate from the “Fee Agreement Sample” in a manner previously announced in 2015, which is as follows:
“SC Mortgage Broker Fee Agreement for Financial Services (Cx3525) – This document provides references to the GFE, HUD-1, and ‘Shopping For Your Home Loan’ booklet. These are being modified to refer to the new Integrated Disclosures and Toolkit, as applicable. In addition, the table of fees which is a copy of the Itemization of Amount Financed tables will be updated to reflect the new tables on the Itemization of Fees disclosure."
These changes will take effect on March 13, 2021. Questions or concerns about these changes should be directed toward Client Support at 1.800.497.3584.
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