mortgagee

mortgagee
the organisation or person to whom the property is mortgaged. In the case of a bank loan, the organisation is usually the bank. Glossary of Business Terms
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A secured party to whom insurance proceeds are paid as stipulated in a mortgagee payee clause of an insurance policy obtained by a debtor and covering property owned by a debtor and pledged to the secured party. Generally applies to real property. American Banker Glossary
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The lender of a loan secured by property. Bloomberg Financial Dictionary

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mortgagee mort‧ga‧gee [ˌmɔːgɪˈdʒiː ǁ ˌmɔːr-] noun [countable]
LAW FINANCE a financial institution that lends money in the form of a mortgage

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mortgagee UK US /ˌmɔːɡɪˈdʒiː/ noun [C] FINANCE
a bank or other financial organization that lends money in the form of mortgages: »

Your mortgagee is likely to have a number of requirements that you must comply with.


Financial and business terms. 2012.

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Look at other dictionaries:

  • mortgagee — mort·gag·ee /ˌmȯr gi jē/ n: a party (as a business or individual) to whom or in whose favor property is mortgaged Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. mortgagee …   Law dictionary

  • Mortgagee — Mort ga*gee , n. (Law) The person to whom property is mortgaged, or to whom a mortgage is made or given. [1913 Webster] …   The Collaborative International Dictionary of English

  • mortgagee — (n.) 1580s, from MORTGAGE (Cf. mortgage) (v.) + EE (Cf. ee) …   Etymology dictionary

  • mortgagee — ► NOUN ▪ the lender in a mortgage …   English terms dictionary

  • mortgagee — [môr΄gə jē′] n. a person to whom property is mortgaged …   English World dictionary

  • Mortgagee — The lender of a loan secured by property. The New York Times Financial Glossary * * * mortgagee mort‧ga‧gee [ˌmɔːgɪˈdʒiː ǁ ˌmɔːr ] noun [countable] LAW FINANCE a financial institution that lends money in the form of a mortgage * * * mortgagee UK… …   Financial and business terms

  • mortgagee — See mortgager, mortgagee …   Dictionary of problem words and expressions

  • mortgagee — The person to whom a mortgage is made. A mortgagee is held to be a purchaser within the meaning of a statute entitling the widow of a nonresident alien to the same rights in her husband s property as a resident, except as against a purchaser from …   Ballentine's law dictionary

  • Mortgagee auction — is the term used in both Australia New Zealand to describe a property foreclosure auction. It is the process by which real estate is forced to auction by a bank or lending institution. This normally happens when the borrower defaults on their… …   Wikipedia

  • mortgagee clause — A provision in a hazard insurance contract stipulating that in the event of a loss, proceeds will be paid to a secured party. Usually used when the insured property is real property. Includes personal property that is insured as contents of the… …   Financial and business terms

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