Mortgage licensees must undergo a comprehensive examination to ensure compliance with state regulations and industry standards. This examination evaluates various aspects of a mortgage broker's operations, including financial stability, adherence to legal requirements, and the overall integrity of their business practices. Proper documentation is essential for a smooth and successful examination process.
Specific Focus on IT Security
The South Carolina examiner focuses on IT security elements as part of the examination. These elements are outlined in the 2-9 IT Security Plan available here. Key components include:
- Information Security/Cyber Security Policy
- Business Continuity Plan
- Disaster Recovery Plan
- Acceptable Use Policy
- Cyber Security Insurance Policy
- Incident Response Plan
- Qualified Individual for Information Security Program
- Written Risk Assessment for Information Security Program
Mapping IT Security Components to Plan Sections