Definitions for "Mortgagee policy"
Also called "loan policy." A title insurance policy insuring a mortgagee, or beneficiary under a deed of trust, against loss caused by invalidity or unenforceability of a lien, or loss of priority of the mortgage or deed of trust.
A title insurance policy issued to the lender. It insures the lender that its mortgage lien in superior to all other interests in the property.
Title insurance policy insuring the mortgagee against loss caused by title defects.