Who is the mortgagor, and who is the mortgagee?
Staff Q&A from the 63Hours team.
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Who is the mortgagor, and who is the mortgagee?
Staff Q&A from the 63Hours team.
The mortgagor is the borrower giving the mortgage as security. The mortgagee is the lender receiving that security interest. The wording can feel backwards because the lender provides the money, but these labels follow the mortgage being given, not the cash. Identify the document first and the roles become easier to keep straight.
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Discussion prompt: Who gives the security interest rather than the loan funds?