1) North Carolina General Statutes §45-36.9 requires that you must submit a satisfaction instrument to the. 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. (7) If the request is for a payoff statement, the specified payoff date, which may not be more than 30 days after the notification is given. The NC SAFE Act requires licensure or registration for individuals and companies who engage in the mortgage business or process and underwrite mortgage loans. What is an Offer In Compromise (OIC)? What are the qualifications to submit an Offer In Compromise (OIC)? Interest rate reference rate in the loan agreement which may impact the amount of interest the borrower pays on the loans (for example,. LIBOR). Loan payoff statements tell borrowers how much they must pay to close out a loan. Due to interest, etc.