Which of the following is NOT a requirement for temporary authority under North Carolina law?

Having a valid mortgage originator license is not a requirement for temporary authority in North Carolina. Temporary authority allows individuals who have applied for a mortgage loan originator license to start working in that capacity while waiting for their official license approval. This is designed to streamline the process and ensure that there is a workforce ready to assist consumers even before the licensing process is finalized.

In contrast, the other options represent requirements that are essential for obtaining temporary authority. Completing background checks is necessary to ensure that the individual meets the ethical and legal standards expected in the mortgage lending industry. The completion of 12 hours of state-specific education ensures that the individual is knowledgeable about the laws and regulations specific to North Carolina, which is crucial for effective practice. Additionally, submitting an application is a fundamental step in the process, as it formally communicates the individual's intent and qualifications to the regulatory authority.

Understanding the distinctions among the requirements for temporary authority helps clarify the licensure process and the immediate steps an aspiring mortgage loan originator must take in North Carolina.