Joshua Mayers exchanged some emails with Fredy Montero's agent that indicate the deal is in its final stages. He also found a Colombian story that corroborates the idea here at Sounder at Heart that the loan is a kind of staged 6/6/buy agreement.
The longer quote that Mayers provides is well worth your read, because it somewhat contradicts other statements from the agent about whether Fredy was leaving Seattle for good, or if he'd like to play here again some day.
An open Designated Player slot, basically at salary cap compliance and a team that will get preseason training from two attacking players, a DP and a veteran keeper. The best defender is out and the best attacking player over the life of the MLS side is almost certainly gone. A new right back and possibly a new centerback are on their way.
It is not March yet. The transfer window for MLS isn't even open yet. But change? It's happening and quickly. There may even be more to come.