Direct answer
What does mortgagee mean?
A mortgagee is the lender or other holder that receives the mortgage interest securing the debt.
Exam cue: The mortgagee receives the security interest from the mortgagor.
What does it look like in a question?
Example
A bank funds the loan and receives the mortgage.
Common exam trap
What should you not confuse it with?
Mortgagee identifies the lender or mortgage holder, while mortgagor identifies the property owner who gives the mortgage.
Related real estate finance terms
AmortizationAmortization is the repayment of debt through scheduled payments that reduce principal over time.Balloon paymentA balloon payment is a final payment that is substantially larger than the preceding scheduled payments.Debt serviceDebt service is the principal and interest a borrower must pay on a loan during a stated period, usually a year.EquityEquity is the owner's value in property after subtracting liens from the property's value for the calculation being used.ForeclosureForeclosure is the legal process used to enforce a mortgage lien after default and subject the property to sale or another court-ordered remedy.Loan-to-value ratioThe loan-to-value ratio (LTV) is the loan amount expressed as a percentage of the applicable property value or price.
Sources used2 references with section locators
The curriculum citation confirms exam scope. Definition and rule citations support the explanation itself.
Keep learning
Put the term back into its full subject.
A definition helps with recall. The subject guide shows how the rule interacts with documents, scenarios, calculations and practice questions.