Definition: The term "mortgage" typically refers to the use of money for an obligation or a debt, usually by one person (the borrower) to another (the lender) in exchange for the right to use some portion of that money as collateral (in return for interest payments). The purpose of a mortgage is to ensure repayment of the loan and its subsequent use. On the other hand, the term "mortgagee" refers to the person or entity who has purchased the property or land through a mortgage in question and then transfers ownership over the title and interests in the property (with the right to receive a portion of the proceeds from the sale). The loan is secured by the borrower's property and it can be either an一手贷款，即只向借款人提供抵押的贷款（如房屋抵押贷款）或二手贷款，也就是既包括了借款人也有银行对借款人的抵押权。 Both terms are used in financial institutions, such as banks or mortgage companies. In summary, "mortgage" refers to the use of money for an obligation, while "mortgagee" refers to a third party who purchases property through a mortgage and then transfers ownership over it. For example, if you're purchasing a home with a mortgage from a bank, the mortgage is your loan that outlines what kind of interest payments you'll pay and how much of the monthly payment will be used for principal and interest. The buyer pays an upfront fee to secure their property, which includes a down payment or an initial payment made by the seller. In contrast, if you're purchasing a home with a mortgage from a broker, the loan is a contract between the borrower (the owner) and the lender (the buyer), and the money is paid out on a monthly basis.
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