noun A person or entity that lends money to a borrower for the purpose of purchasing real estate, with the property serving as collateral for the loan.
In the context of real estate transactions, the mortgagee is the lender who provides the mortgage loan to the borrower.
Within the finance industry, mortgagee is a key term used to describe the party that receives the mortgage loan payments from the borrower.
In legal documents and proceedings related to property ownership and financing, the term mortgagee is often used to denote the party that has the legal right to foreclose on the property in case of default.
Mortgagee is commonly used in banking to refer to the entity or individual who holds the legal title to the property as security for the loan.
A real estate agent may refer clients to mortgagees for financing options.
A loan officer works closely with mortgagees to facilitate the mortgage approval process.
A real estate attorney may represent the mortgagee in legal matters related to a mortgage agreement.
A financial advisor may provide advice on choosing the right mortgagee for a client's financial situation.
A property appraiser may work with mortgagees to determine the value of a property for loan purposes.