Get access to direct deposit forms, automatic bill payment forms, and loan management from BMO. 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. The lender has the option to withdraw the application at this point. Note: An early rejection requires a presentation to Loan Committee. The mortgage discharge or lien release is recorded. Explore mortgage options, compare rates, and calculate your monthly payments. In 2015, a discounted payoff was accepted in full satisfaction of a portion of private loan. In 2015, a discounted payoff was accepted in full satisfaction of a portion of private loan. Sign in to your online account and click on Account Details to go to your dashboard.