Definition of "mortgagee" [mort•ga•gee]

• One that holds a mortgage. (noun)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

• "Call the mortgagee and use these words to open the conversation:"
• "The factory owner, the mine owner, the ship owner, who thought it safe twenty years ago to borrow half the value of his plant in order to find capital for his business, now finds that the mortgagee is the virtual owner."
• "A clause in a note, which entitles the mortgagee (lender) to declare the note due and payable in full prior to its stated maturity date."