This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,.Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. This article provides a template for a debt settlement proposal letter and explains what a debt settlement letter should contain. Below are links to various frequently requested forms. Some are PDF documents that are available to download and print. This article provides a template for a debt settlement proposal letter and explains what a debt settlement letter should contain. Payoff requests, including borrower's authorization, should be directed to the servicer of the first mortgage. Tower Federal Credit Union in MD, DC and VA makes it easy to access forms for membership, account management and much more.