This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,.Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. A mortgage payoff letter can come in two forms. One form tells borrowers the remaining principal amount and interest they have to pay to close out the loan. Create a Loan Payoff Letter online and download it as a PDF or Word document. Customize and print a blank Loan Payoff Letter for free. 7). The letter also stated that Defendant Bank intended to accelerate the loan balance and initiate a foreclosure sale if the balance was not paid. We audited American Property Financial (American), a nonsupervised loan correspondent approved to originate Federal Housing Administration mortgage.