Grant Servicing

Satisfaction of Mortgage Request

A Satisfaction of Mortgage request is made when a borrower has fully paid off their mortgage loan, and they need the lender (loan servicer) to provide official documentation showing that the debt has been satisfied (paid in full). The request is the borrower’s formal step to have the lender acknowledge full repayment and release the lien from the property title. 

Request for Satisfaction of Mortgage (SOM) Online Form

Purpose

Evidence of Loan Repayment – It’s a borrower’s way of requesting the lender to confirm in writing that the mortgage obligation has been completely paid.
Release of Lien – Mortgages place a lien on the borrower’s property. A satisfaction of mortgage serves as the legal instrument that removes the lien, clearing the property’s title.
Title Clearance – Without this document, the mortgage could still appear as an encumbrance in public records, which may prevent the owner from selling, refinancing, or transferring the property.
Protects the Borrower – It ensures the lender cannot later claim money is owed or attempt to enforce the lien.
Public Record Update – Once the lender issues the satisfaction, it is typically recorded with the county recorder or clerk’s office, making it part of the public record.


Payoff Request

A Payoff Request is to find out how much you need to pay to clear the mortgage balance. 

Payoff Request and Authorization Online Form

Purpose

Obtain the Exact Amount Owed – It’s a borrower’s or third party’s (like a title company, attorney, or refinancing lender) request to the current lender/servicer for the precise total needed to fully pay off the loan as of a specific date.
Account for Accrued Interest & Fees – Mortgages and loans accumulate daily interest. A payoff statement provides the amount including principal, accrued interest, and any fees (like recording, late fees, or prepayment penalties).
Provide Payment Instructions – The payoff letter details how and where the funds must be sent (e.g., wire instructions, check address, reference numbers).
Time-Sensitive Accuracy – Since interest accrues daily, a payoff request ensures the borrower or closing agent knows the correct amount for a specific payoff date.
Enable Transactions – A payoff request is often needed for: 

  • Refinancing into a new loan 
  • Selling the property and paying off the old mortgage
  • Paying off the loan early