Loan Pay-Off Letter Request

A payoff letter is a document that is prepared by Quontic that shows how much money a borrower must submit to fully pay off a loan.

Rules and Restrictions

A Payoff Request Form must be completed by the borrower and received by Quontic before we send the borrower their Payoff Request Letter

Payoff Request Form requires a Wet Signature

A Payoff Request letter is a document that is prepared by Quontic upon receiving the Completed & Signed Payoff Request Form

Pay-off Letters are valid for 15 Calendar Days (including weekends and public holidays) from the date of letter.

If the loan is not fully satisfied by the good-through date mentioned in the initial payoff request, the borrower will need to submit a new pay-off request to obtain the updated payoff amount. This ensures that the payoff amount is accurate and reflects any additional interest or charges that may accrue beyond the initial date specified.

There is no fee incurred to request a payoff letter

Payoff Letter will include the following amounts:

Principal Balance

Interest

Late Charges

Administration Fees

Forbearance

Ballon

Payoff Subtotal

Escrow Balance

Available Escrow balance is deducted from the payoff subtotal

Payoff Total

Daily Interest Per Diem

Good through date

Ways to pay

Ways to Pay

Check Payment

Wire Payment

Check payment Instructions

If the full or partial payment is made by certified check or cashier’s check, please be sure to add three (3) additional business days of interest to account for mail delivery

Payoff Wire Instructions

Quontic Bank, 3105 Broadway, Astoria, NY 11106

Account# 9997 9997 01406425

Routing# 021-473-030 Loan#

Ref: Loan Payoff

If paying by wire, the wire must be received by 6:00 PM (EST) on the specified date

Payoff Request Form

PayoffRequestForm-1Download

Payoff Letter Example

Payoff Request by 3rd Party Title Company

Title Company must send a written request to the payoff team (email accepted) along with a Third-Party form (Payoff Authorization Form)

This form must be completed by the borrower

The title company provides this form to the borrower

Turnaround time is 1-2 business days for the request to be completed.

Email address to provide to the 3rd party is payoffs@quonticbank.com