Mortgagee

DEFINITION of '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.

BREAKING DOWN 'Mortgagee'

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.

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    The purchase of a home is a very expensive undertaking and usually requires some form of financing to make the purchase possible. ... Read Full Answer >>
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    Federal Housing Administration (FHA) loans require escrow accounts for property taxes, homeowners insurance and mortgage ... Read Full Answer >>
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    Federal Housing Administration (FHA) loans can be refinanced in several ways. According to the U.S. Department of Housing ... Read Full Answer >>
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