Definition of Mortgagee:
The lender in a mortgage, typically a bank.
Most people take out a mortgage to finance the purchase of a residence or commercial building. In order to limit its risk in the investment, the lender in the transaction creates a priority legal interest in the value of the property, substantially lowering the probability it, the mortgagee, will not be repaid in full if the borrower defaults on the loan. This is done through a perfected lien and title ownership.
The lender (individual or company lending the money) in a mortgage loan transaction.
A mortgagee is a lender: specifically, an entity that lends money to a borrower for the purpose of purchasing real estate. In a mortgage transaction, the lender serves as the mortgagee and the borrower is known as the mortgagor.
Synonyms of Mortgagee
Shylock, Banker, Bill collector, Collection agent, Credit man, Creditor, Creditress, Debtee, Dun, Dunner, Godchild, Goddaughter, Godson, Insuree, Lender, Loan officer, Loan shark, Loaner, Money broker, Moneylender, Moneymonger, Mortgage holder, Mortgage-holder, Note-holder, Pawnbroker, Policyholder, Usurer, Warrantee, Financial institution
How to use Mortgagee in a sentence?
- Usually, therefore, the second mortgagee persuades the first mortgagee to obtain repayment on the same occasion.
- A mortgagee is an entity that lends money to a borrower (also known as a mortgagor) for the purpose of purchasing real estate.
- In order to limit its risk, a mortgagee creates a priority legal interest in the value of the mortgaged property, allowing it to seize it if the mortgagor defaults on the loan.
Meaning of Mortgagee & Mortgagee Definition