This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,.How to fill out the Payoff Request Letter Templates? Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. 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. A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. 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.