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Frequently asked questions regarding loan satisfaction for a SONYMA Loan.
Contact your servicing bank (where you make your monthly mortgage payments) and request a payoff statement.
A payoff request can be created and mailed for free.
Depending on the servicer, it can take up to 15 business days.
The servicer will complete a Satisfaction of Mortgage and send it to the county clerk for recording.
In the same manner as a primary loan, the servicer will complete a satisfaction
This can be done at the end of the recapture period, which is 10 years after the closing date.
In the event that a servicer is unavailable, or a case remains unresolved after multiple requests,
*** SONYMA does not accept loan applications or service loans directly. However, for matters which cannot be addressed by a SONYMA Participating Lender or Loan Servicer, consumers, regulatory agencies, and other parties may call 800-382-HOME to escalate to SONYMA directly. ***
