Mortgagee

Pronunciation: /ˌmɔːrˈɡɪdʒi/

Definitions of mortgagee

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.

Example Sentences

A1 The mortgagee is the person or entity that lends money for a mortgage.

A2 The mortgagee has the right to foreclose on the property if the borrower fails to make payments.

B1 The mortgagee may require the borrower to obtain mortgage insurance.

B2 The mortgagee can sell the mortgage to another financial institution.

C1 The mortgagee's lien takes precedence over other creditors in the event of foreclosure.

C2 The mortgagee may negotiate with the borrower to modify the terms of the mortgage.

Examples of mortgagee in a Sentence

formal The mortgagee has the legal right to foreclose on the property if the borrower defaults on the loan.

informal If you miss too many payments, the mortgagee can take your house.

slang The bank is the mortgagee, so make sure you pay your mortgage on time.

figurative In this scenario, the mortgagee represents the financial institution holding the loan.

Grammatical Forms of mortgagee

• plural: mortgagees
• comparative: more mortgagee
• superlative: most mortgagee
• present tense: mortgagee
• future tense: will mortgagee
• perfect tense: has mortgaged
• continuous tense: is mortgaging
• singular: mortgagee
• positive degree: mortgagee
• infinitive: to mortgagee
• gerund: mortgaging
• participle: mortgaged

Origin and Evolution of mortgagee

First Known Use: 1400 year

Language of Origin: Old French

Story behind the word: The word 'mortgagee' originated from the Old French word 'mort gage', which translates to 'dead pledge'.

Evolution of the word: Originally, 'mortgagee' referred to the person who gives a loan secured by a mortgage. Over time, the term has come to specifically refer to the lender or creditor in a mortgage agreement.