The mortgage discharge or lien release is recorded. A payoff letter shows the remaining balance on your mortgage, including fees, interest, etc.Learn more about what a payoff quote is and how to request one. This form is furnished to give you a statement of actual settlement costs. To request a payoff quote, please complete the payoff quote form. This form is intended for 3rd parties acting on behalf of Mr. Cooper customers. A mortgage payoff statement details the total amount needed to fully pay off a loan as of a specific date. In this scenario, don't give up. Review your old explanation for anything you might have accidentally left out. No need for private mortgage insurance (PMI) or mortgage insurance premiums (MIP).