Proponents of transmission flushing often claim 100% of the fluid is replaced. This is untrue for several reasons. When the engine is running and the transmission is in park, only a part of the fluid is circulated. A good deal of fluid simply flows from the pump back to the pan, through the pressure relief valve.
DEFINITION of 'Mortgagee'. An entity that lends money to a borrower for the purpose of purchasing a piece of real property. By accepting a mortgage on the real property, the lender creates security in the full repayment of the loan in the future.
A recourse loan is a loan which allows the lender to take action above and beyond repossessing the home (through the foreclosure process) to recover the mortgage debt. In other words, the lender has recourse to the borrowerâs assets other than the house securing the mortgage. If the lender is unable to satisfy the balance of the loan by foreclosing on and selling the home, it can sue the borrower to recover that balance, which is called the deficiency.