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TITLE 7 | BANKING AND SECURITIES |
PART 8 | JOINT FINANCIAL REGULATORY AGENCIES |
CHAPTER 153 | HOME EQUITY LENDING |
RULE §153.24 | Release of Lien: Section 50(a)(6)(Q)(vii) |
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. |
Source Note: The provisions of this §153.24 adopted to be effective January 8, 2004, 29 TexReg 84 |