Mortgage Payoff Automation for Servicers
Process refinance payoffs, home sales, and HELOC closures in 2 minutes instead of 60+. Perfect for mortgage servicers, banks, and credit unions.
The Mortgage Payoff Challenge
High Volume, High Stakes
Mortgage servicers process hundreds of payoffs daily during refi booms. Title companies demand quick turnaround. Manual processing creates bottlenecks and frustrated customers.
Complex Calculations
Principal, per-diem interest, escrow balances, PMI refunds, prepayment penalties, late fees, and recording fees. One error delays closing and costs thousands.
Multiple Loan Types
First mortgages, seconds, HELOCs, reverse mortgages, and construction loans all have different calculation methods and requirements.
Compliance Pressure
CFPB regulations, RESPA requirements, and state-specific rules demand accurate disclosures and complete audit trails.
How PayoffAgent Transforms Mortgage Servicing
Automatic Data Retrieval
Pull loan details from your servicing platform or upload the note. AI extracts all terms: principal, interest rate, payment schedule, escrow requirements, and prepayment clauses.
Precise Calculation Engine
Calculate to-the-penny accuracy: current principal via amortization, per-diem interest (Actual/365), escrow balance, PMI refund, prepayment penalty, and all fees.
RESPA-Compliant Letters
Generate payoff statements with all required disclosures, good-through dates, per-diem amounts, and payment instructions. Fax, email, or portal delivery.
Manual vs. PayoffAgent
Per payoff: Pull file, calculate, review, create letter, deliver
Enter loan #, review, send. Everything else automated.
30x Faster + Zero Calculation Errors
Built for Mortgage Servicing
All Mortgage Products
First mortgages, seconds, HELOCs, reverse mortgages, and construction loans.
- • Fixed & ARM loans
- • FHA, VA, USDA, Conventional
- • Interest-only periods
- • Negative amortization handling
Escrow Management
Automatically calculate escrow balances and required disbursements.
- • Property tax accruals
- • Homeowners insurance
- • PMI calculations & refunds
- • HOA fees
Good-Through Dates
Clearly state payoff expiration and per-diem interest amounts.
- • Customizable validity periods
- • Per-diem interest disclosure
- • Weekend/holiday handling
- • Wire deadline requirements
RESPA Compliance
Meet all federal and state disclosure requirements automatically.
- • CFPB-compliant disclosures
- • State-specific requirements
- • Complete audit trails
- • Reg Z compliance
Multi-Channel Delivery
Send payoffs via borrower's preferred method instantly.
- • Email to title companies
- • Fax for traditional closers
- • Online portal access
- • API for title software integration
Servicing Platform Integration
Works with your existing loan servicing system.
- • Black Knight MSP
- • Fiserv Loan Servicing
- • Cenlar, Loancare, others
- • Custom API connections
Perfect for Every Mortgage Payoff Scenario
Refinance Boom Volume
When rates drop, payoff requests surge 10x overnight. Manual processing can't keep up. PayoffAgent scales instantly.
Example: Mid-Size Servicer
500 loans/day during refi boom
Manual: 500 hours/day = 62 FTEs needed
With PayoffAgent: 17 hours/day = 3 FTEs
Home Sale Closings
Title companies need payoffs for home sales. Delays cost thousands. Provide instant quotes and beat competitors.
Competitive Advantage
Industry average: 24-48 hour turnaround
Your competition: Same day (4-6 hours)
With PayoffAgent: 2 minutes = Win deals
HELOC Closures
Variable rate HELOCs require daily interest recalculations. Outstanding draws, unused credit, and fees complicate payoffs.
HELOC Complexity Handled
Current balance + outstanding draws
Variable rate per-diem calculations
Early closure penalties (if any)
Second Mortgage Payoffs
Second mortgages and piggyback loans paid off during refinancing or home sales. Coordination with first lien holder critical.
Streamlined Coordination
Generate payoffs matching first lien timing
Same-day delivery to title companies
Avoid closing delays = Happy borrowers
Mortgage Servicer ROI
Refinances, sales, HELOCs
Fully loaded servicing staff cost
Plus: Faster closings, happier borrowers, competitive advantage
Related Solutions
Ready to Automate Mortgage Payoffs?
Join leading mortgage servicers saving $200K+ annually with PayoffAgent.
Enterprise support • Custom integration • White-label available