Mortgagee

A mortgagee is a lender, typically a bank or financial institution, that provides a loan to a borrower (mortgagor) to purchase real estate. In return, the mortgagee holds a legal claim (mortgage) on the property until the borrower repays the loan with interest. If the borrower fails to make payments, the mortgagee has the right to take possession of the property through foreclosure. Essentially, the mortgagee is the party that enables the borrower to finance their home while also protecting its investment in the property.