Say you have a mortgage and want to know exactly how much you'd need to pay to satisfy the loan. A mortgage payoff letter will tell you that magic number.This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,. A demand letter is an official notice requesting money, possession of assets, or action on a legal matter. Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. 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 letter can come in two forms.