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 ?
Access the Annual MIP Case Number Request Cancellation Instructions document specific to Mortgagee Letter 2015-01.
The Justices recognized that in the "modern world of lending" it is no longer the case that the mortgagee and the note-holder are always the same entity.
Under the PLA, in order for a subsequent mortgagee to claim priority over further advances made under a prior mortgage, it must provide actual notice to the first mortgagee of the registration of the subsequent mortgage.
The defense to be raised by the mortgagor, if the mortgagee refuses to accept a deed in reduction and initiates a foreclosure action, is that the mortgagee in such foreclosure action has the duty to act equitably.
In this instrument, the mortgagor will have voluntarily pledged the land as security and granted the mortgagee special powers in the event of default.
Other changes set forth by HERA include a clarification that only FHA-approved mortgagees may participate in the origination of an FHA-insured HECM loan--meaning that insurance agents who are not associated with FHA-approved lenders may not participate in the origination of FHA-insured HECM loans.
PW Funding of Mineola, New York, was the lender and FHA mortgagee.
J agrees with his second mortgagee to reduce die second mortgage debt to $30,000, resulting in discharge of indebtedness income in the amount of $60,000.
Nine months after the fire, the mortgagee (bank) learned that the property had been destroyed.
The mortgagor's thoughts usually are consumed by the economic circumstances preceding the foreclosure--a job loss or a business failure-- while the mortgagee typically focuses on the potential loss of goodwill or its lack of expertise in managing and marketing the repossessed or foreclosed property.
FACT: Courts have ruled in favor of MERS in many lawsuits, upholding MERS legal interest as the mortgagee and the right to foreclose.
Read FHA's mortgagee letter detailing the agency's new loan limits.