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Mortgage Net Branch South Carolina
Can I Conduct Mortgage Business via a mortgage net branch in South Carolina?
According to the mortgage broker licensing requirements for the State of South Carolina, you must have a physical office; that is, one that people can actually walk in and out of. So, that rules out being able to operate strictly online.
Now you may be asking if a physical office can be located inside your home or on your residential property. You may ask this because you have a dedicated office in some part of your home, either in the basement or a room in the house that has ample space as well as separate toilet facilities, and is designed for maximum privacy when the door is shut. Or you may have a totally separate building on your property, either close to your house or even in another part of your property that actually requires you to drive to the location.
If it can be accessed by the general public as well as others, and if you aren't in violation of any zoning ordinances, the State of South Carolina might very well consider either of these situations as meeting the requirement for a physical office. However, if you want to be completely sure, you may want to give serious consideration to renting or leasing space in an office complex or office park, or perhaps in a "strip" of buildings.
Another advantage is that the very act of leaving a place that technically isn't "yours", such as your room or your basement or your building on your property lets you make the mental adjustment from being at work to going home. The reality is, a South Carolina mortgage net branch must be fully licensed, insured, bonded and meet all federal and state licensing requirement for all owners and employees. Think about that...