🐐 Receiving, Verifying & Calculating a Mortgage Payoff: A Guide for Title Agency Employees
Mortgage payoffs are one of those “looks simple, goes sideways fast” parts of settlement. Between wire fraud risk, miscalculated per diem, and the FHA’s month-end interest trap, a single unchecked det
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One bad payoff can tank a closing, trigger a claim, or cost your client thousands.
Mortgage payoffs are one of those “looks simple, goes sideways fast” parts of settlement. Between wire fraud risk, miscalculated per diem, and the FHA’s 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 way—so you don’t eat someone else’s mistake at the table.
💼 Members get the full SOP step-by-step workflow, FHA exceptions, and update triggers below.
What’s Inside:
When to verify & calculate a mortgage payoff
Steps to verify & calculate a mortgage payoff
Final steps to ensure payoff accuracy at closing
