mortgagee:
(plural: ‘mortgagees‘; the opposite word in meaning ‘mortgagor’ or ‘mortgager’, next entry; pronunciation: the first ‘g’ is said with a ‘g’ sound as in “gate”, and the second ‘g’ is said with a ‘j’ sound as in ‘judge’ — for the right pronunciation of this word, please click here)
a mortgagee is a person (or bank) who lends/gives money keeping something valuable as security according to an agreement, i.e. a person or business, usually a bank, that accepts a mortgage and lends money to the other party called ‘mortgagor’;
a lender in a mortgage deal,
a mortgagee… giving money on property security
The newly-married couple are looking for some banker to become their mortgagee to the mortgage on their new home.
As a result of the global financial crunch, more and more more mortgagee are appealing to courts to give decrees for foreclosures.
In normal circumstances, very few mortgages end up in courts… mortgagees suing the mortgagors.
