SC Code 37-23-70(D) says:
(D) At the time of application for a mortgage loan, the mortgage broker, originator, or employee shall provide the borrower with a document specifying the agency designated to receive complaints or inquiries about the origination and making of the loan, with the telephone number and address of the agency. The consumer shall sign a copy of the document acknowledging receipt of this disclosure and the copy must be maintained in the files of the mortgage broker or originator.
We provide this agency information on our copy of the South Carolina Borrower Complaints disclosure (Cx4694). After receiving some questions, we have contacted the South Carolina Board of Financial Institutions, and they have given us guidance regarding the agency address/phone information to print as follows:
Address: South Carolina State Board of Financial Institutions
Consumer Finance Division
1205 Pendleton Street, Suite 306
Columbia, South Carolina 29201
Phone: 803-734-2020
Website: consumerfinance.sc.gov
Consequently, we have updated our Cx4694 to match the guidance from the South Carolina Board of Financial Institutions. This contact information will print when “Lender is a Broker” (FI 18205 ) is set to ‘No’.
This change will take effect immediately. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
COM-5774
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