The lender must cancel and return the note to the owner and give the owner a release of lien or a copy of an endorsement and assignment of the lien to another lender refinancing the loan within a reasonable time after termination and full payment of the loan. The lender or holder, at its option, may provide the owner a release of lien or an endorsement and assignment of the lien to another lender refinancing the loan.     
       (1) The lender will perform these services and provide the documents required in 50(a)(6)(Q)(vii) without charge.      
       (2) This section does not require the lender to record or pay for the recordation of the release of lien.      
       (3) Thirty days is a reasonable time for the lender to perform the duties required under this section.      
       (4) An affidavit of lost or imaged note, or equivalent, may be returned to the owner in lieu of the original note, if the original note has been lost or imaged.      
     Source Note:        The provisions of this §153.24 adopted to be effective January 8, 2004, 29 TexReg 84