LTGC Colorado Title Practice Test

The lender who funds the purchase is the mortgagee. In a mortgage transaction, the borrower who takes out the loan is the mortgagor, while the lender that provides the funds and holds the loan as security is called the mortgagee. A debtor is a general term for someone who owes money, not specific to the mortgage arrangement, and a lienholder is any party who holds a lien on the property; the mortgagee is the specific term used for the lender funding the loan.