Mortgagee


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Mortgagee

The lender of a loan secured by property.

Mortgagee

A mortgage lender. A mortgagee is ordinarily a bank or savings and loan corporation.
References in periodicals archive ?
Mortgagees should not order new Case Numbers under this temporary authority until they have confirmed in FHA Connection that the previous Case Number has been cancelled.
MERS) serves as the mortgagee in the land records for loans registered on the MERS[sup.
The BLA provides that an advance by a mortgagee that results in an increase in the direct or contingent liability of a mortgagor, or both, under a registered mortgage occurring after the time a claim of lien is filed ranks in priority after the amount secured by that claim of lien.
50) This includes the duty of the mortgagee to take reasonable steps to prevent or mitigate damages resulting from the default by the mortgagor.
The mortgagee is free to commence legal action the day after default, but rarely does so.
31, 1995, when T is neither bankrupt nor insolvent, the mortgagee cancels this mortgage.
The insurer responded that the mortgagee had sustained no loss by the insurer's refusal to pay because the loan indebtedness had continued to be paid up until the date the complaint was filed by the bank.
Upon receipt of property through voluntary reconveyance, foreclosure or abandonment, the mortgagee neither recognizes a gain or loss nor considers the debt worthless or partially worthless under the bad debt provisions of IRC section 166.
The role of mortgagee is legal and binding and confers to MERS certain legal rights and responsibilities.
While the first mortgagee will have priority over any interest secured by the second charge, mortgagees are increasingly reluctant to consent to any subsequent charges being registered against properties where they have a first charge.
MERS is a separate corporation appointed by lenders to serve as mortgagee of record and nominee for the beneficial owner(s) of the mortgage loan, with rights to enforce the mortgage on behalf of the beneficial owner(s).
may properly invoke the statutory power of sale as granted to the mortgagee by the plain, unambiguous language of the Mortgage," Justice Rubine held.