mortgagee
/ˌmɔrɡɪˈdʒi/
noun
- A person or organization that lends money to someone so they can buy property, and who holds the legal claim to that property until the loan is repaid.
- The bank acted as the mortgagee in the home purchase.
- The mortgagee approved the loan for the new house.
- If you miss payments, the mortgagee can take possession of the property.