To request a payoff quote, please complete the payoff quote form. This form is intended for 3rd parties acting on behalf of Mr. Cooper customers.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 payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. Our guide will teach you how to write a letter of explanation, plus offers a free template to help you write one of your own. Because a year has 52 weeks, this works out to 26 biweekly payments, making for 13 full payments instead of 12. A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. You'll need to request your free payoff quote as you think about paying off your mortgage. One form tells borrowers the remaining principal amount and interest they have to pay to close out the loan.