Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started.How to fill out the Payoff Request Letter Templates? Payoff requests, including borrower's authorization, should be directed to the servicer of the first mortgage. Do you need a loan payoff request form? A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment.