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Mortgagee

usgb/ˌmɔːrɡɪˈdʒiː/Volume
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LampPro Tip 1/3

Loan Issuer

Mortgagee is the entity that gives the loan, not the one receiving it.

Illustration for Loan Issuer
The mortgagee holds the title of the property as collateral.
LampPro Tip 2/3

Property Rights

The mortgagee has legal rights over the property until the debt is fully paid.

Illustration for Property Rights
If the borrower fails to repay, the mortgagee can claim the property.
LampPro Tip 3/3

Not Ownership

Being a mortgagee doesn't mean owning the property, but having a security interest in it.

Illustration for Not Ownership
As mortgagee, the bank does not own your home, but has rights to it as security.
Visual representation of the word "Mortgagee"

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