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 Holder Definition. A mortgage holder receives monthly mortgage payments from the borrower. A mortgage holder is a person or company that has a right to enforce a mortgage loan agreement. The mortgage loan consists of a promissory note and a security interest, which is the actual mortgage or, in some states, a deed of trust. The mortgage holder is the person with the legal right to enforce repayment under the notes or foreclosure under the security interest.