By including a per diem amount in the letter, the parties will not have to execute another payoff letter if the termination date. Payoff requests, including borrower's authorization, should be directed to the servicer of the first mortgage.Please accept this as my authorization to issue a payoff statement to. Through an effective date of . It typically details the principal balance, interest due as of that date, per diem, any late fees, etc. To get a payoff letter, ask your mortgage lender for an official payoff statement and let them know what the projected closing date is. What is a Payoff Agreement? A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. To assume, payoff, or refinance the existing mortgage (please note the Maryland. Home Financing Program loans will still be subject to income reviews every 5.