closing

Attorney and Insurance Preference (South Carolina)

Under South Carolina's Consumer Protection Code (S.C. Code 37-10-102), a lender making a consumer mortgage loan must determine, before closing, the borrower's preference for the closing attorney and for the insurance agent providing required hazard and flood coverage. The form must be delivered or mailed within three business days after the application. South Carolina is an attorney-closing state: the title search, loan documents, closing, and recording must be supervised by a licensed attorney, and licensees may not prepare deeds.