State Guides
What brokers and loan officers should know about closings and property rules in South Carolina, and how Hancock Processing works your files there.
South Carolina is an attorney state. The South Carolina Supreme Court treats residential real estate closings as the practice of law, so a South Carolina-licensed attorney must perform or supervise the title search, the review of the loan documents, the closing itself, and the recording and disbursement. The rule applies to refinances as well as purchases.
No. South Carolina is a common law property state, not a community property state. Dower and curtesy have both been abolished, so a spouse has no dower interest for a mortgage to release.
Yes. On a home loan for personal, family or household purposes, the lender must find out before closing which attorney the borrower wants to handle the closing, and which agent should provide the required hazard and flood insurance, and then honor that choice. Lenders typically do this with a signed attorney/insurance preference form at application or within three business days of it, and the choice must come from the borrower directly, not through the real estate agent or loan officer.
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South Carolina
All of them. We process every loan type we offer in South Carolina, including conventional, FHA, VA, USDA, jumbo, Non-QM and DSCR loans, from Greenville-Spartanburg and Columbia to Charleston and Myrtle Beach.
Our processors coordinate with the closing attorney's office throughout the file.
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