If you’re trying to make a Specialized Loan Servicing payoff request, your loan is now handled by Shellpoint Mortgage Servicing. SLS accounts transitioned to Shellpoint on May 1, 2024, so payoff quotes, final payments, and lien questions all go through Shellpoint’s portal, phone line, or mailing address.1Shellpoint Mortgage Servicing. Specialized Loan Servicing A payoff statement is the itemized dollar figure needed to satisfy the mortgage in full on a specific date, including accrued interest, fees, and any escrow adjustments. Your regular monthly statement won’t do the job because it doesn’t capture interest that accrues between billing cycles or the administrative costs added at closing.
What To Have Ready Before You Request
Pull together a few details before contacting Shellpoint. Your loan account number is the main identifier for every request and appears on your monthly mortgage statement or in your online account.2Fannie Mae. Understanding Your Monthly Mortgage Statement You’ll also need the property address tied to the loan and a target payoff date, because the total owed changes daily as interest accrues. Giving a specific date lets Shellpoint calculate the exact amount owed through that day.
If a title company, closing attorney, or other third party is making the request for you, Shellpoint needs written authorization from you first before releasing any account information.3Consumer Financial Protection Bureau. Allowing a Third Party to Work with Your Mortgage Company Fill the authorization out completely, and check the spelling of names and the account number carefully. Mismatches delay everything.
How To Submit the Request
Shellpoint takes payoff requests three ways. If you’ve never logged in since the transition, you’ll need to register a new account at shellpointmtg.com before you can use the online tools.1Shellpoint Mortgage Servicing. Specialized Loan Servicing
Online Portal
The online portal is the fastest route. After signing in and completing two-factor authentication, go to the Payments section and choose “Formal Payoff Quote.” Enter your target payoff date, the reason (refinancing, sale, or voluntary payoff), and your preferred delivery method. Picking “Web” as the delivery type puts the quote on your screen immediately instead of mailing it.4UnrealFi. How to Request a Payoff Statement from Shellpoint – NewRez
Phone
Call Shellpoint customer care at 1-800-365-7107 to request a quote by phone.5Shellpoint Mortgage Servicing. Contact Us – Shellpoint Have your account number and desired payoff date ready. A representative or the automated system will log the request and send the statement by whichever delivery method you choose.
Written Request
You can also fax or mail a written request. Include your full name, account number, property address, payoff date, and a return fax number or email for delivery. Federal law under Regulation Z requires mortgage servicers to furnish a payoff statement within seven business days of receiving a written request. If closing is close, the portal or phone is safer than waiting for mail to arrive before that seven-day clock even starts.
What’s on the Statement
The quote itemizes the payoff rather than giving one lump number. Expect to see the outstanding principal, interest accrued since your last payment, a per diem interest figure (the daily interest charge, multiplied by any extra days if payment lands after the good-through date), county recording and administrative fees for filing the lien release, and any escrow surplus credited back against the total. Recording fees vary widely by jurisdiction, from around $10 in some counties to over $100 in others.
Loans originated before 2014 or non-qualified mortgages may also carry a prepayment penalty. The Dodd-Frank Act banned these on qualified mortgages, so most newer loans won’t have one, but check your original loan documents if you’re unsure.6Legal Information Institute. Dodd-Frank Title XIV – Mortgage Reform and Anti-Predatory Lending Act
The Good-Through Date
Every payoff statement has an expiration, usually called the “good-through” date, typically set 10 to 30 days out. Miss it and the quote is dead; you’ll need a fresh one because more interest will have accrued. When scheduling closing, pick a payoff date with enough cushion for funds to arrive on time, but not so far out that per diem charges pile up unnecessarily.
Sending the Final Payment
Shellpoint accepts two payment methods for payoff: a certified (bank-issued) check or a wire transfer. Personal checks and third-party checks aren’t accepted.7Shellpoint Mortgage Servicing. Making Your Final Loan Payment: The Five-Step Process
Wire transfer is the safer option against a closing deadline because the funds clear same-day. Your payoff statement will include the routing and account details for the wire. Follow them exactly. A single wrong digit can misroute the money and leave per diem interest running while the error gets untangled.
If you pay by certified check, write your loan number on it and include a short letter stating that you’re paying the loan in full. Mail to:
Shellpoint Mortgage Servicing
55 Beattie Place, Suite 110
Greenville, SC 296017Shellpoint Mortgage Servicing. Making Your Final Loan Payment: The Five-Step Process
Send the check at least 10 days before the good-through date so it lands with time to spare. A check that arrives after the quote expires means owing extra per diem interest, and possibly ordering a whole new payoff quote.
What Happens After You Pay Off
Once the payment clears, Shellpoint files a satisfaction-of-mortgage document with your county recorder. That filing is what officially removes the lien from your title. Recording timelines vary by state, with some requiring the servicer to file within 30 days and others allowing up to 90. The CFPB notes that there can be a delay between paying off your mortgage and the lien actually showing as released in public records.8Consumer Financial Protection Bureau. After I Have Paid Off My Mortgage, How Do I Check If My Lien Was Released If several months pass and the lien is still showing, call Shellpoint and follow up with your county recorder. Many states penalize servicers that miss the filing deadline, which gives you leverage if things stall.
Any money left in your escrow account comes back to you. Federal law requires the servicer to return escrow balances within 20 days (excluding Saturdays, Sundays, and legal holidays) of a full payoff.9eCFR. 12 CFR 1024.34 – Timely Escrow Payments and Treatment of Escrow Account Balances The refund arrives as a mailed check to the address on file, so update your address with Shellpoint before payoff if you’re moving.
A few things Shellpoint won’t do for you:
- Call your homeowners insurance carrier to remove the mortgagee clause listing the lender as loss payee. Otherwise, future claim checks may still be made out to the old servicer. You’ll also need to set up direct premium payments with your insurer instead of paying through escrow.
- Contact your county tax assessor so future property tax bills come to you instead of the servicer.
- Save your Form 1098 for the tax year of the payoff. Shellpoint will send one reporting the mortgage interest you paid, which you’ll need if you itemize deductions.10Internal Revenue Service. About Form 1098, Mortgage Interest Statement
Disputing a Payoff Figure That Looks Wrong
If the quote shows an unexpected fee, miscalculated interest, or a missing payment credit, you can challenge it in writing. Send a notice of error to Shellpoint’s designated error-resolution address, listed on your monthly statement or on shellpointmtg.com. Don’t scribble the dispute on a payment coupon or attach it to a payment form; doing so can strip the request of some of its legal protections.11Consumer Financial Protection Bureau. How Do I Dispute an Error or Request Information About My Mortgage
Your letter should include your name exactly as it appears on the mortgage, the account number, the property address, and a clear description of what you think is wrong. Under RESPA, Shellpoint must acknowledge the letter in writing within five business days and then resolve a dispute over an inaccurate payoff balance within seven business days.12eCFR. 12 CFR 1024.35 – Error Resolution Procedures The servicer either corrects the error and confirms the fix in writing, or explains in writing why it believes the original figure was right.
Keep making your regular mortgage payments while the dispute is open. Withholding payments won’t strengthen your case and can bring late fees or negative credit reporting on top of whatever you were already arguing about.