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.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. Our simple guide makes it easy. This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,. Allow ten business days for processing of a release. Submit your details, and we'll promptly provide you with a complete breakdown. A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment.