A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. Loan Payoff Request correspondence on SSFCU letterhead.The document is a formal request to a bank's pay off department, authorizing a specified individual to pay off a loan and satisfy all liens associated with it. This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,. We will provide a payoff statement and accept payment on the account. Complete our Mortgage service or holder of the lien on a property form to receive a copy. Toll Free: 800-678-7228. Loan servicing and loan modification information from Carrington Mortgage. Once you're signed up, you can make payments on your loan from other shares in your PSECU account or from an account at another financial institution.