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Mortgagee

   Also found in: Dictionary/thesaurus, Medical, Legal, Encyclopedia, Wikipedia, Hutchinson 0.03 sec.
Mortgagee
An entity that lends money to a borrower for the purpose of purchasing a piece of real property. By accepting a mortgage on the real property, the lender creates security in the full repayment of the loan in the future.

Notes:
Most people take out a mortgage to finance the purchase of a residence or piece of real estate. In order to limit its risk in the investment, the lender in the transaction creates a priority legal interest in the value of the property, substantially lowering the probability the lender will not be repaid in full if the borrower defaults on the loan.

Mortgagee
The lender of a loan secured by property.
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