This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,.Create a Loan Payoff Letter online and download it as a PDF or Word document. Customize and print a blank Loan Payoff Letter for free. A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. This term sheet is an outline of basic terms and conditions that are fundamental to MB's decision concerning funding the Loan. Please be sure to include your loan number on any written correspondence and mail it to: Utah Housing Corporation Attn: Loan Servicing PO Box 70569. Browse our self-service options and most frequently asked questions, find the nearest branch or ATM, or get in touch with us directly. Apply or cosign for a new loan, complete your loan application, or check your application status. P.O. Box 45046 Salt Lake City, UT 84145.