Definition

A person or organization that lends money to someone to buy a property, holding the mortgage as security until the loan is paid off.

Example

The mortgagee approved the loan application for the new house.

Conversation

Did you know that a mortgagee is the person who holds the mortgage on a house?

Yeah, I heard that somewhere! It’s important to understand who that is when buying a home.

Right! I think it helps to know your rights as a borrower and what the mortgagee can do.

Absolutely! It’s a big commitment, so being informed is key.

Synonyms & Antonyms

Root Explanation

Mortgagee → It is formed from "mort" (from Old French *mort*, meaning dead) and "gage" (from Old French *gage*, meaning pledge). The term originally referred to a pledge that becomes void (or 'dead') when the obligation is fulfilled or the property is taken back.

Memory Tip

Think of a 'pledge' ('gage') that becomes 'dead' ('mort') when the loan is paid off or the property is reclaimed.

Visually Confused Words