0
In the language of mortgages, mortgagee refers to the organization that is lending money to the borrower. There are a wide variety of lenders that are known to offer this service.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
What is the definition of a term deposit rate?
The definition of term deposit rate is a deposit held in a financial institute at a fixed rate. Such as a cd that banks offer or bonds.
In a mortgage who is the mortgagee?
The lender is the mortgagee. The person who borrows the money is the mortgagor.
Definition of long-Term Financing?
Definition of long-Term Financing?
Is a mortgagee clause considered a lien?
No. The mortgage is a lien. The mortgagee clause generally refers to a provision in the homeowner's insurance policy providing that loss to mortgaged property is payable to the mortgagee named in the policy and promises advance written notice to the mortgagee of policy cancellation.
How does homeowners insurance and the mortgagee work?
There should be a "Mortgagee Clause" listed in the policy conditions which will outline the relationship. Most of the time (it depends on the state), the mortgagee and the insurer are in a separate contract than the named insured (homeowner) and the insurer are. What that means is, if a loss occurs, and for some reason the named insured is not paid for the claim (most often because the insured may found to be committing insurance fraud), then the mortgagee can still be indemnified for the loss. However, the clause may also contain language that holds the mortgagee to certain conditions. These conditions might include, that the mortgagee has paid the premium, and that they have notified the insurance company of any changes in the risk, such as a vacancy. Mortgage holders can also file claims on their properties in foreclosure. This can be a very complicated process. Often times, the insurer will have to find out whether or not the mortgagee has suffered a financial loss because of the damages. Adjusters have to research what phase the foreclosure is in, if it has been sold, how much the property was sold for, what the remaining amount was on the note when the foreclosure took place, and what the amount of damages are. If they made money on the selling of the property from the foreclosure and sold it for more then what was remaining on the note, they may not be entitled to insurance dollars because there is no financial loss. In addition, the mortgagee is required to be listed on payments that exceed a certain dollar amount (it depends on the regulations of that particular state's Department of Insurance). So when homeowners have a loss, they can often find their mortgagee listed on their payment.
What is the definition of a term deposit rate?
The definition of term deposit rate is a deposit held in a financial institute at a fixed rate. Such as a cd that banks offer or bonds.
Definition of financial tools?
financial tool
Does owner of quit deed pay mortgage if mortgagee dies?
Yes. If the mortgagee dies the debt is owed to their estate.Yes. If the mortgagee dies the debt is owed to their estate.Yes. If the mortgagee dies the debt is owed to their estate.Yes. If the mortgagee dies the debt is owed to their estate.
What is the definition of the term kept?
The definition of the verb kept is the past tense of keep. It also means a financial arrangement, as in a kept woman. Others words to use can be: not violated or disregarded or unbroken.
In a mortgage who is the mortgagee?
The lender is the mortgagee. The person who borrows the money is the mortgagor.
What is a mortgagee on home insurance policy?
Your mortgage company. They are your mortgagee and you are a mortgagor.
What is Definition of capital market?
Compare money market the financial institutions collectively that deal with medium-term and longtime capital and loans ruchita
Definition financial stability?
occur when there is stability in both financial institution and financial market.
Definition of long-Term Financing?
Definition of long-Term Financing?
Is a mortgagee clause considered a lien?
No. The mortgage is a lien. The mortgagee clause generally refers to a provision in the homeowner's insurance policy providing that loss to mortgaged property is payable to the mortgagee named in the policy and promises advance written notice to the mortgagee of policy cancellation.
Definition of financial development?
finacial development
Is it easy to obtain self cert mortgages?
A self cert mortgage can be obtained by working with a lender to determine the mortgagee's qualifications based on income, financial statements, and other factors.
