What is the minimum surety bond amount required for brokers?

The minimum surety bond amount required for brokers in South Carolina is $25,000. This amount serves as a financial guarantee that brokers will comply with state regulations and conduct business ethically. The surety bond protects consumers and the state from potential financial losses incurred due to a broker's misconduct or failure to fulfill contractual obligations. A surety bond is a critical requirement in the mortgage industry, ensuring that brokers maintain high standards of practice and accountability in their dealings. This amount aligns with the regulatory expectations for brokers and safeguards the integrity of the mortgage lending process.