I had a chat yesterday about paper file retention for our loans sold on the secondary market. We used to keep them for 25 months, then had to keep them for 3 years. (paper file) In SC do you have to keep the loans sold on the secondary market for 5 years or is SC law the same as Federal law. (Federal law says that when a loan is sold or transferred that the new servicer takes on the remainder of the 5 year period).