In real estate finance, a mortgagee is the party that lends money to a borrower and receives the mortgage as security for the loan. The mortgagee holds a lien against the real property to secure repayment of the debt.
The mortgagee is typically a bank, financial institution, or other lender and has the legal right to enforce the terms of the mortgage. If the borrower fails to repay the loan as agreed, the mortgagee may pursue remedies such as foreclosure to recover the outstanding balance.
