In a mortgage transaction, who is the mortgagee?

In a mortgage transaction, who is the mortgagee?

• A. The borrower.
• B. The lender.
• C. The title examiner.
• D. The Notary.

Answer: (B)

The mortgagee is the lender—the party that provides the loan and holds the mortgage as security for that loan. In a mortgage, the borrower pledges the property as collateral by signing the mortgage, and the lender becomes the mortgagee, with a lien recorded against the property. This lien gives the lender the right to foreclose if the loan isn’t repaid. The title examiner’s role is to verify title and liens, not to lend money, and the Notary’s role is to witness signatures. The mortgagee can be a bank or other lending entity named in the mortgage.

The mortgagee is the lender—the party that provides the loan and holds the mortgage as security for that loan. In a mortgage, the borrower pledges the property as collateral by signing the mortgage, and the lender becomes the mortgagee, with a lien recorded against the property. This lien gives the lender the right to foreclose if the loan isn’t repaid. The title examiner’s role is to verify title and liens, not to lend money, and the Notary’s role is to witness signatures. The mortgagee can be a bank or other lending entity named in the mortgage.