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AUTHORIZATION FOR RELEASE OF INFORMATION (Payoff) Name of Borrower: ___ Property Address:___Social Security #:___ ___Loan Account #:___This letter serves as a written request that a payoff statement

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What is authorization to release payoff?

Authorization to release payoff is a document that permits a lender or financial institution to provide the payoff amount owed on a loan to a third party, such as a closing agent or another lender.

Who is required to file authorization to release payoff?

The borrower or the loan holder is required to file the authorization to release payoff to enable the release of payoff information to the specified third party.

How to fill out authorization to release payoff?

To fill out the authorization to release payoff, you need to provide your personal information, loan details, the name of the party to whom the payoff information is being released, and sign the document to authorize the release.

What is the purpose of authorization to release payoff?

The purpose of authorization to release payoff is to protect the borrower's privacy while allowing necessary financial transactions to occur, particularly when refinancing or selling a property.

What information must be reported on authorization to release payoff?

The information that must be reported includes the borrower's name, loan number, lender's information, the party receiving the payoff information, and the date of authorization.

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