Performed dhcp release plugged in new modem never received new lease. Left plugged in all night. Is there anything that needs to be done on the verizon side to allow me to use my own modem?
#1 For one thing, Verzion uses Moca and Moca type of networking and a cable modem are different.
#2 If you want to use your own NAT Router I point you to
a) http://www.dslreports.com/faq/16077
b) http://www.dslreports.com/faq/14077
c) http://www.dslreports.com/faq/16710
d) http://www.dslreports.com/faq/16858
You can't use a cable modem with FIOS. They are different (incompatible) technologies.
If you have FIOS-TV, you need the Actiontec to provide MOCA LAN connectivity for your STBs.
If you don't have FIOS-TV, then yes, you can use your own router. See the links DSLR595148 provided.