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.
Mortgage Broker. A mortgage banker is an individual or organization that acts as an intermediary between borrower and lender to originate a mortgage loan. The term mortgage broker is often confused with a mortgage banker, but unlike the mortgage banker, the mortgage broker does not lend its own funds. The bank typically pays the mortgage broker for finding and processing the loan. Mortgage broker compensation of about 1% of the loan principal is typical.