And then fixing his eyes steadily on him, he said, "You are a mortgagee."
Why, you do not mean to say that our gracious sovereign is a money-lender and mortgagee?
The first mortgagee is entitled to be paid in full first, then the second, and so on.
The mortgagee may use his mortgage as security for loans or he may assign it as he pleases.
It is usual for the mortgagor to ...