Glossary

Mortgagee

The lender that holds the mortgage on the home, listed on the declarations page so it gets cancellation notices and shares in payments for dwelling damage.

Also called: mortgage holder, mortgage lender

A mortgagee is the lender that holds the mortgage on your home. You, the borrower, are the mortgagor. The mortgagee's name, address and loan number appear on the declarations page, often followed by "ISAOA/ATIMA," shorthand for "its successors and/or assigns, as their interests may appear." Because the house is the lender's collateral, the policy protects the lender as well as you.

In practice that means three things. The insurer must notify the mortgagee before canceling; the standard ISO form requires at least 10 days, and some states require more. The lender's right to be paid is protected under the mortgagee clause, within limits, even if your own claim is denied. And a loss payable under Coverage A (dwelling) or Coverage B (other structures) is paid to you and the mortgagee together. Payments for belongings under Coverage C are not.

Keep the mortgagee information current. Loans are sold and servicing transfers often, and an old servicer left on the policy can delay claim checks or receive notices nobody reads. A wrong or missing entry is also one way a homeowner ends up with force-placed insurance. If a lender holds your claim check, see why your mortgage company is on the claim check.

Last reviewed October 10, 2026

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Related terms

Mortgagee clause The policy condition that gives the lender its own right to be paid for dwelling losses and protects that right even when the owner's claim is denied. Loss payee A party named on a policy to receive claim money for a particular item or property up to its financial stake, such as a lender or lessor. Escrow account A lender-held account that collects a share of your annual property tax and insurance bills with each mortgage payment and pays them when due. Force-placed insurance Coverage a mortgage servicer buys on your home and bills to you when it believes your own policy has lapsed or falls short of loan requirements. Additional interest A person or business with a financial stake in the insured property, such as a lienholder, listed on the policy to get notices but not coverage. Declarations page The summary page at the front of a policy listing the insured, the property, policy dates, limits, deductibles, premium, mortgage lender and attached forms.

Related guides

Builder's risk insurance for a home under construction Builder's risk insures a house while it is built. Who buys it, what it covers, how flood and wind are handled, and when your homeowners policy takes over. How to cancel homeowners insurance and get a refund Cancel in writing with a date, tell your lender, and expect the unused premium back pro rata unless a short-rate rule applies. Steps, deadlines, late refunds. Cancellation for nonpayment and reinstatement The standard ISO form allows cancellation for unpaid premium on 10 days' notice. Notice rules, payment timing and reinstatement decide whether you get a gap. Filing a claim with an insolvent insurer When a home insurer is liquidated, a state guaranty association takes over covered claims. Who to contact, which deadlines matter and what caps apply. Your declarations page explained, line by line The declarations page shows who and what is insured, the policy period, each limit and deductible, the premium and the forms attached. What each line means. Deed fraud, title insurance and your homeowners policy How forged deeds steal homes, why homeowners insurance does not cover lost ownership, what owner's title insurance may cover, and the alerts that catch it.

Related tools

Escrow shortage calculator See how a higher homeowners premium raises your mortgage payment twice, once for the new premium and once to repay the escrow shortage.