Once my mortgage loan is paid off, what should I expect?

Once your mortgage is paid off, here's what to expect:

  1. We will prepare a lien release or satisfaction of mortgage document.
  2. Once the lien release/satisfaction of mortgage is prepared, documents are sent to the applicable county for recording. Timelines vary based on the county the mortgage is recorded in.
  3. Once the county has recorded the release/reconveyance, documents are sent to U.S. Bank.  When this process is complete, the original recorded release/reconveyance with a letter is mailed to the borrower. 
  4. Any remaining escrow balance and/or excess payoff funds will be issued to you (the borrower) within 20 business days of the loan being paid in full. 

If the documents have been sent to the county for recording and you're looking for more information, please contact the county recording office. If you don't know if the documents have been sent, call our Mortgage department at 800-365-7772.