One bad payoff can tank a closing, trigger a claim, or cost your client thousands.
Mortgage payoffs are one of those âlooks simple, goes sideways fastâ parts of settlement. Between wire fraud risk, miscalculated per diem, and the FHAâs month-end interest trap, a single unchecked detail can unravel an otherwise perfect file. This guide breaks down exactly when and how to verify, update, and calculate payoffs the right wayâso you donât eat someone elseâs mistake at the table.
đź Members get the full SOP step-by-step workflow, FHA exceptions, and update triggers below.
Whatâs Inside:
When to verify & calculate a mortgage payoff
Steps to verify & calculate a mortgage payoff
Final steps to ensure payoff accuracy at closing
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