The FDIC may be able to assist you in obtaining a lien release if the request is for a customer of a failed bank that was placed into FDIC receivership. 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 request can be created and mailed for free. How long does it take to obtain a payoff? Get access to direct deposit forms, automatic bill payment forms, and loan management from BMO. In this comprehensive guide, we'll explore the ins and outs of payoff letters, their purpose, and how to write one properly. Customer: I had an auto loan with Harris NA in 2008-2009. I got a letter from Harris NA indicating that I had indeed paid off the loan. After you pay off your mortgage, your lender should also return the original note to you.