Mortgage Glossary
Mortgagee
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A mortgagee is the lender in a mortgage transaction, the party that lends money and holds the lien on the property.
What Mortgagee means
The mortgagee has the right to foreclose if the borrower defaults and is named on the insurance policy to protect its interest. The borrower is the mortgagor.
Florida example
A Florida bank or broker-sourced lender acting as mortgagee appears on the homeowners insurance as loss payee, ensuring any claim check protects the loan balance, not just the owner.
Related Mortgage Terms
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