South Carolina License Law
In South Carolina, a real estate licensee who engages in mortgage fraud may face:
AOnly a SCREC warning letter
BLicense revocation, civil liability, and federal criminal prosecution✓ Correct
COnly a 90-day suspension
DNo consequences if the fraud was unintentional
Explanation
Mortgage fraud is among the most serious violations, carrying the potential for license revocation, civil lawsuits, and federal criminal prosecution. Common types include inflating appraisals, falsifying loan applications, and illegal property flipping.
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