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A lender prepares a South Carolina checklist for continuing education and renewal. Which rule belongs in the checklist?

Correct Answer

D) South Carolina CE and renewal requirements apply as stated for the licensing year.

South Carolina license renewal requires submitting a renewal application and paying prescribed fees; the loan originator annual renewal fee is no more than $50, and a late loan originator renewal fee is no more than $100.

Answer Options
A
Treat continuing education and renewal as satisfied by borrower consent alone.
B
Delay the South Carolina requirement until after the loan closes or the renewal period ends.
C
Treat consumer consent as a cure for a prohibited or missing compliance step.
D
South Carolina CE and renewal requirements apply as stated for the licensing year.

Why This Is the Correct Answer

South Carolina license renewal requires submitting a renewal application and paying prescribed fees; the loan originator annual renewal fee is no more than $50, and a late loan originator renewal fee is no more than $100.

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