noun
- a person or institution that lends money to a borrower and holds a mortgage on the borrower’s property as security
Usage: legal; finance
Examples
- The bank served as the mortgagee for their home loan.
- If payments are missed, the mortgagee has the right to foreclose on the property.
- The mortgagee required proof of income before approving the loan.
- After paying off the loan, the mortgagee released the lien on the house.
- The credit union acted as mortgagee for several first-time homebuyers.
- The mortgagee’s attorney handled the closing documents.