completed with information known at the time of review by the administrator and must include loans in process, closed loans, turndowns, denials, and withdrawals. A mortgage broker with two or more licensed offices may consolidate the records at any one of the licensed offices so long as the administrator is notified of the location of the records. The records must be available for examination to the administrator or his designee upon request. Books and records must be maintained for at least three years. A records may be maintained electronically, if approved licensee’s by the administrator, so long as they are readily accessible for examination by the administrator. (B) A mortgage broker doing business in this State shall maintain a sufficient physical presence in this State and his records must be maintained at the licensed location in this State. At a minimum, the broker shall maintain an official place of business open during regular business hours, staffed by one or more licensees who have the authority to contract on behalf of the broker and to accept service on behalf of the broker. If the official place of business is not open for business within the hours of 8:30 AM until 5:00 PM, Monday through Friday, the broker shall notify the department administrator in writing of the business hours maintained by the place of business. broker’s official (C) A licensed mortgage broker with an official place of business within South Carolina also may maintain one or more branch or satellite offices if the: (1) mortgage broker notifies the department administrator in writing ten seven days before the opening of a branch satellite office of the location of the branch or satellite office, the branch manager for each branch location, and notifies the department that all records from the branch or satellite office are stored in a main or branch location in this State which is staffed by one or more employees licensees during regular business hours; (2) records of any pending mortgage loan application or records in which a loan closing is still in process are made available at the mortgage main or branch location as broker’s provided in item (1) to the administrator or his designee within two seven business days of a written request delivered by facsimile transmission, mail, or handdelivery by the administrator or his designee; (3) broker notifies the department administrator in writing within two seven business days of closing a branch or satellite office.;
completed with information known at the time of review by the administrator and must include loans in process, closed loans, turndowns, denials, and withdrawals. A mortgage broker with two or more licensed offices may consolidate the records at any one of the licensed offices so long as the administrator is notified of the location of the records. The records must be available for examination to the administrator or his designee upon request. Books and records must be maintained for at least three years. A licensee’s records may be maintained electronically, if approved by the administrator, so long as they are readily accessible for examination by the administrator. (B) A mortgage broker doing business in this State shall maintain a sufficient physical presence in this State and his records must be maintained at the licensed location in this State. At a minimum, the broker shall maintain an official place of business open during regular business hours, staffed by one or more licensees who have the authority to contract on behalf of the broker and to accept service on behalf of the broker. If the official place of business is not open for business within the hours of 8:30 AM until 5:00 PM, Monday through Friday, the broker shall notify the department administrator in writing of the business hours maintained by the broker’s official place of business. (C) A licensed mortgage broker with an official place of business within South Carolina also may maintain one or more branch or satellite offices if the: (1) mortgage broker notifies the department administrator in writing ten seven days before the opening of a branch satellite office of the location of the branch or satellite office, the branch manager for each branch location, and notifies the department that all records from the branch or satellite office are stored in a main or branch location in this State which is staffed by one or more employees licensees during regular business hours; (2) records of any pending mortgage loan application or records in which a loan closing is still in process are made available at the mortgage broker’s main or branch location as provided in item (1) to the administrator or his designee within two seven business days of a written request delivered by facsimile transmission, mail, or handdelivery by the administrator or his designee; (3) broker notifies the department administrator in writing within two seven business days of closing a branch or satellite office.;