Mortgagee

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Related to mortgagees: mortgager, mortgagors

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 ?
50) This includes the duty of the mortgagee to take reasonable steps to prevent or mitigate damages resulting from the default by the mortgagor.
Moreover, unlike cotenants, mortgagees by their very nature are not co-equals--they are always senior or subordinate vis-a-vis their brethren.
the [c]ourt noted that the latter act's avowed object is to take from the mortgagee rights in the specific property held as security; and to that end to scale down the indebtedness to the present value of the property.
For financing the development of a project a developer is generally prohibited from mortgaging the project land or any real estate right related to it unless the mortgage is granted for the purpose of financing the building of the project and provided that (i) the loan amount is to paid directly into the escrow account; (ii) the developer informs the purchaser(s) about the mortgage through notification in the sale and purchase agreeement; and (iii) the developer and mortgagee undertake to release the mortgage over the sold unit(s) once fully paid.
View the reissued version of Mortgagee Letter 2015-01.
For a ground lease to be acceptable to a leasehold mortgagee without encumbering landlord's fee simple estate in the land and reversionary interest in the improvements, it should generally include the following key terms.
The mortgagees in this case did not acquire any estate or interest in Lot 4 on registration of their instruments because having been granted by a person who had no interest to give, those instruments were void, both at common law and under s.
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.
Rather, it is the mortgagor's breach of contract that the mortgagee seeks to enforce in a foreclosure action.
The Department of Housing and Urban Development (HUD) has periodically issued Mortgagee Letters since 1976 to update lenders and other mortgage professionals on changes in Federal Housing Administration (FHA) operations, policies and procedures.
While rates, principal amounts and amortization periods are negotiated, the mortgagee remedies are generally standard in all mortgages and not negotiable by the borrower.
After Long Beach and the other mortgagees agreed on the relative priority of their mortgages, Long Beach obtained a foreclosure judgment for a credit bid of $716,239.