In the mortgagor/mortgagee relationship, who is the mortgagor?

In the context of a mortgage, the mortgagor is the party that borrows money from another party to purchase real estate and provides the property as security for the loan. This typically means that the mortgagor is the customer who seeks financing to acquire a home or property. The mortgagor is responsible for making regular payments to the mortgagee, which is usually a banking institution or a lender.

The other parties mentioned do not fit this definition. While the bank serves as the mortgagee, giving the loan and taking a security interest in the property, the regulatory authority oversees the legalities and compliance aspects but is not involved in the borrowing process as a mortgagor. An agent functions as a representative in the transaction but does not lend or borrow directly, which disqualifies them from being termed a mortgagor.