If you're interested in learning how, please fill out this form and we'll be in touch. 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. Compass Mortgage is dedicated to a better mortgage experience, thanks to its authentic core values and strong work ethic. If you cannot afford your monthly mortgage payments and wish to avoid foreclosure, you may be eligible for a loan "workout" or modification. We offer a variety of online and mobile banking services to enhance your personal banking experience. The following discusses the dynamics of the residential mortgage market and our role in the secondary mortgage market. Unless the petition is submitted to this Office in corrected form within 60 days of the date of this letter, the petition will not be filed. I study dynamic collateral management in a setting where financial intermediaries can replace deteriorated loans through secondary market trading. Miller, one of his secre taries.