What is one responsibility of the DCA related to licensees?

The responsibility of conducting rule-making proceedings falls under the purview of the Department of Consumer Affairs (DCA) in South Carolina. This involves creating and enacting regulations that govern the behavior and practices of licensed entities, including Mortgage Loan Originators. Rule-making is essential in establishing guidelines that ensure compliance with state and federal laws, protecting consumers, and maintaining the integrity of the mortgage industry.

By conducting rule-making proceedings, the DCA sets forth clear standards and procedures that licensees must follow. This process often includes stakeholder input, public comment periods, and the evaluation of existing regulations to ensure they are effective and up to date. This responsibility is crucial in creating an orderly and fair marketplace for both consumers seeking mortgage loans and the professionals providing them.