SC Housing is closed Monday, Feb. 16 in observance of Presidents Day. 

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What is an Approved Participating Lender?

An approved participating lender is an independent contractor authorized and licensed to do business in South Carolina; and originate mortgage loans through the South Carolina State Housing Finance and Development Authority (SC Housing). Participating lenders play a critical role in helping South Carolina residents access affordable housing programs.

To become an approved lender, applicants must:

  • Complete and submit the New Lender Application Approval Package along with all required documents listed on the Application Submission Checklist
  • Execute a Purchase and Sale Agreement with SC Housing
  • Pay an application fee of $2,000
Eligibility Requirements

To qualify as an SC Housing approved lender, institutions must meet the following criteria:

  • Physical presence: Maintain a brick-and-mortar office located within South Carolina
  • Financial strength: Maintain a minimum net worth of $1,500,000
  • Operational capacity: Originate, process, underwrite, and fund loans in the company’s own name
  • Interim servicing: Have the ability to interim service the first one or two monthly payments prior to purchase by SC Housing and generate a payment history
  • Master Servicer approval: Obtain approval from Lakeview Loan Servicing, SC Housing’s master servicer
Duties and Responsibilities

Approved lenders are entrusted with ensuring compliance and efficiency in all aspects of SC Housing loan origination. Responsibilities include:

  • Eligibility maintenance: Establish and maintain ongoing eligibility to act as an originating agent for SC Housing including but not limited to annual recertification.
  • Staff compliance: Ensure that all personnel involved in SC Housing loans are trained in and adhere to SC Housing guidelines, requirements, and procedures.
  • Loan processing: Originate, process, underwrite, and close loans in compliance with SC Housing standards, including the ability to perform interim servicing prior to purchase.
  • Document delivery: Provide all required documentation timely, including interim payment history (if applicable), final recorded documents.
Application Process

The steps to become an approved lender are straightforward:

  1. Submit application: Complete the New Lender Application Approval Package.
  2. Processing timeline: Applications are reviewed, and decisions are typically communicated within 15 business days.
  3. Contact for questions:

If a lender is not yet approved by Lakeview Loan Servicing, they should contact Lakeview directly:

Lender and Loan Officer Requirements

SC Housing accepts loan applications only from licensed loan officers (exemptions may apply for employees of federally or state‑chartered banks who act as mortgage loan officers) employed by approved lending partners. To ensure successful loan origination:

  • Program knowledge: Mortgage Loan officers must be familiar with SC Housing programs and services
  • Training requirement: Mortgage Loan officers (and processors and underwriters) should complete a training class specifically designed for SC Housing lenders
  • Public listing: Upon completion of training, loan officer contact information will be published on SC Housing’s website as part of the official list of Approved Lending Partners, A approved lender is an independent contractor authorized to originate SC Housing mortgage loans. To become an approved lender, you must complete and submit the entire Application Package with required documents listed on the Application Submission Checklist and execute a Purchase and Sale Agreement.

Loan applications for any of our mortgage loan or Mortgage Credit Certificate programs are accepted only from licensed loan officers employed by our approved lending partners. Knowledge of SC Housing programs and services is essential to successful loan origination. For this reason, loan officers should complete a training class designed specifically for lenders.  Once completed, your contact information will be placed on our website as an official SC Housing Approved Lending Partner.

Training is offered at various locations throughout the state for your convenience.

Real Estate Professional

Partner with us!  SC Housing makes it easy for real estate agents to understand our financing options and offer them to homebuyers across the state.   To participate, it is essential that agents complete a training class to gain an understanding of the dynamics of our programs.   Once completed, your contact information will be placed on our website as an official SC Housing Approved Real Estate Professional.

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Contact SC Housing

For more information, please call 803.896.2211 or contact our mortgage specialists at mortgage.production@schousing.com.