If your loan status is listed as "Payoff Pending," it means that our team is in the process of sending funds to your previous servicer(s). This process generally takes about 10 days. You'll receive an email from us letting you know we have received confirmation that your loan servicer(s) has received the funds to pay off your loan.
However, even after your previous servicer(s) receives the funds, they may not immediately apply it to your account. Most servicers take between 1 to 3 weeks to process and apply the funds once received. We encourage you to continue making payments to previous servicer(s) until the balance of the loan is $0. This ensures you won't have any late payments or fees, negative credit report markings, or penalties if there are delays in processing the payoff.