What is a mortgagee & a mortgagor?

A mortgagee is an entity that lends money to a borrower for the purpose of purchasing real estate. In a mortgage lending deal the lender serves as the mortgagee and the borrower is known as the mortgagor.

What is a mortgagee in real estate?

To explore this concept, consider the following mortgagee definition. An entity that has loaned money to an individual for the purpose of purchasing or refinancing a piece of property. A mortgagee is an entity that lends money to borrowers who want to either purchase a new home or refinance their existing homes.

What does a mortgagee do?

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.

What does mortgage mean?

Get a quick, free translation! MORTGAGEE definition: 1. a bank or similar organization that gives mortgages to people, especially so that they can buy a…. Learn more.