Would the bank who carries the loan on the house care if mortgage payee took name off at ...

Typically they don't have any knowledge of that and really doesn't matter to them as they still have the signed Note obligating them to the loan. Even if you take them off the deed they are still responsible for the mortgage.

What matters is who is on the note. Merely taking someone off as the payee does not relieve them of the responsibility of having signed the note.

The title company will only close the loan, if all names on the loan documents match the lender instructions to the title company. If you remove a property owner who does not qualify, or one that is too young for a reverse mortgage, you may add them on after the closing. There are important considerations, so work with a knowledgable broker. If you are considering a reverse mortgage, please contact me for more information. Dave Metsker, 503-620-2239