How Do I Send Funds For A Payoff? A couple meeting with a mortgage lender to submit a gift letter.Whether refinancing or buying your next home, it's simple with PHH! We'll provide an easy process and expert guidance at every step. How to fill out the Payoff Request Letter Templates? 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. Apply to Asset Manager, Mortgage Processor, Mortgage Loan Originator and more! Apply to Underwriter, Legal Assistant, Loan Processor and more!