The Collaborative International Dictionary of English v.0.48:
Mortgagee \Mort`ga*gee"\, n. (Law) The person to whom property is mortgaged, or to whom a mortgage is made or given. [1913 Webster] MortgageorWordNet (r) 3.0 (2006):
mortgagee n 1: the person who accepts a mortgage; "the bank became our mortgagee when it accepted our mortgage on our new home" [syn: mortgagee, mortgage holder]