In order to process your homeowner mortgage servicing request, you must submit the following: Mortgage Servicing Request Form, Mortgage Servicing Fee. 4. Why do I need a Payoff Letter?A payoff request can be created and mailed for free. How long does it take to obtain a payoff? 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. A payoff letter shows the remaining balance on your mortgage, including fees, interest, etc. Learn more about what a payoff quote is and how to request one. There are many ways to do so, but the easiest is to make your loan payments via our NYMCU Mobile or Online Banking Apps. A mortgage payoff letter can come in two forms.