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Mortgagee

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What is a Mortgagee?

We can define a mortgagee as a bank, credit union, or other lender that lends money to a homebuyer or other buyer of real estate. Under the terms and conditions of your mortgage contract, your mortgagee has some special legal rights.

For example, the mortgagee’s legal team will draft a secured lien, which solidifies their title ownership on the property tied to your mortgage. A mortgagee can structure a mortgage loan with a fixed or variable rate of interest.

Examples of Mortgagee

  • Example 1: Investment banks
  • Example 2: Credit unions

Here’s Investopedia’s definition of a Mortgagee .

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