Who Is A Mortgagee, And What Does It Mean When Buying A House?
Phong Truong
The Financial Suit Team - NEXA Mortgage Phong Truong
Published on September 14, 2022

Who Is A Mortgagee, And What Does It Mean When Buying A House?

As you embark on the process of buying a house, there are many tasks you’ll need to complete before you can close and move into your new home. One of the most important things you’ll have to do is get a home loan. A key figure in this process is the mortgagee, but who is the mortgagee and what are their roles and responsibilities in the home buying process?

Let’s look at what the term “mortgagee” means.

Who Is The Mortgagee?

“Mortgagee” is a term you’ll likely see in your mortgage documentation. It refers to the lender, whether that’s a bank, credit union, other financial institution or specialized mortgage originator. Put simply, the mortgagee is the entity giving you the home loan.

Mortgagor Vs. Mortgagee

The term “mortgagor” refers to you, the borrower, and can be used to refer to all parties involved in taking out a mortgage loan. When thinking about the mortgagor/mortgagee relationship, remember that the mortgagee is the entity lending the money for the home, while the mortgagor is the person or persons borrowing the money to buy a home.

What Does A Mortgagee Do?

  • Set And Offer Mortgage Rates
  • Originate And Issue A Mortgage
  • Draft A Secured/Perfected Lien
  • Seize A Home
  • Sell Or Secure A Seized Home

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Phong Truong
The Financial Suit Team - NEXA Mortgage Phong Truong
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