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South Carolina Mortgage Log System (SCMLS) website launched

The South Carolina Department of Consumer Affairs, in partnership with the South Carolina Board of Financial Institutions, announced the launch of the South Carolina Mortgage Log System (SCMLS) website. Under state law, licensed mortgage brokers and lenders are required to maintain a log containing specific mortgage loan data, including the credit score of the borrower, type of mortgage loan, and annual percentage rate. The SCMLS website will allow this data to be submitted directly to the Department of Consumer Affairs and Board of Financial Institutions for review to detect predatory or discriminatory mortgage lending practices. A compilation of data received from licensed mortgage brokers and lenders through the SCMLS will be reported to the public annually. The website is: https://scmls.businessvitals.com/.

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