If your loan status shows "Payoff Pending,” it means that Earnest is in the process of sending payoff funds to your old servicer. This process generally takes about 10 days for your old servicer to receive our payoff. You'll receive an email from us letting you know we have received confirmation that your loan servicer has received our payoff.
It's important to note, although your old loan servicer has received our payoff, they have not applied it to your account immediately. Generally speaking, most loan servicers take between 1-3 weeks to apply our payoff once received.
Please keep making payments until your previous servicer shows a $0 balance. We never want to risk you having a late payment in the event that our loan payoff payment has not been processed by your previous servicer.