mortgagee


Also found in: Dictionary, Thesaurus, Medical, Legal, Financial, Wikipedia.

mortgagee

Law
1. the party to a mortgage who makes the loan
2. a person who holds mortgaged property as security for repayment of a loan

mortgagee

The lender from whom a mortgage is obtained.
References in periodicals archive ?
The following shows that Banco de Lupa is not a mortgagee in good faith: (a) that Land Bank processed Manny's loan application upon his presentation of the title, which was still under the name of Barbie; and (b) The bank even ignored the fact that the cooperative previously used Barbie's title as collateral in its loan account with it.
It was not until HUD released several mortgagee letters in 2010, including Mortgagee Letter 2010-18, that property preservation rules were substantially updated to take advantage of the new technologies available and adopted by servicers and their vendors.
Therefore, debtors have the unenviable task of accepting foreclosure or continuing to make mortgage payments on an underwater property, potentially benefiting a junior mortgagee.
That differs greatly from a standard mortgagee clause.
The Property Law confirms that if the mortgagee is a bank, finance company or financial institution, it has to be duly licensed registered with the Central Bank of the United Arab Emirates (the "Central Bank") to engage in real estate financing in Abu Dhabi.
On appeal Mr and Mrs Da Rocha argued that section 9 of the Mortgage Conditions set out certain trigger events and that those trigger events were all encompassing, leaving no further option for the mortgagee.
If an appraisal was ordered prior to obtaining a case number, the case number must be assigned on or after January 26, 2015 and inserted into the appraisal prior to delivery to the mortgagee.
In considering the validity of the mortgage granted by the registered holder of the fee simple interest (the rogue), Munroe J concluded that the mortgage was valid because the mortgagee had dealt for value and in good faith with the registered holder of title.
Ironically, under the rule change that generated the original lawsuit, a stranger could purchase a reverse mortgage home for the fair market value (an "arm's-length transaction," according to the original Mortgagee Letter), where an heir could not.
FHA's Mortgagee Review Board can impose cash penalties, probation and suspension.
The PLA provides that, unless a prior mortgagee makes a further advance pursuant to written agreement with the subsequent mortgagee or, alternatively, is committed by the terms of the mortgage to make further advances, the prior mortgagee will be postponed to the second mortgage if it makes further advances after it has notice of the second mortgage.
In reaching its decision, the court found that a mortgagee must name a personal representative for a deceased mortgagor for the court to obtain subject matter jurisdiction.