"Mortgagee" means (i) the holder of an indebtedness or obligee of a non-monetary obligation secured by a mortgage or any person designated or authorized to act on behalf of such holder and (ii) any person claiming through a mortgagee as successor.
15-1208.Mortgagee.
Article XV. Mortgage Foreclosure · Part 12. Definitions · Not amended since adoption on record · Last verified July 20, 2026
In one sentenceThis section defines “mortgagee” as the holder of the secured debt or obligation, or an authorized representative, plus anyone who claims through a mortgagee as a successor.
Full Text of 735 ILCS 5/15-1208
Plain-English Summary
Section 15-1208 defines mortgagee in two parts. First, it is the holder of an indebtedness, or the obligee of a non-monetary obligation, secured by a mortgage, or any person designated or authorized to act on that holder's behalf. Second, it includes any person claiming through a mortgagee as a successor.
This wording covers more than the original lender named on the mortgage. It reaches an authorized agent acting for the current holder, and it reaches later holders who take by assignment or succession. Read alongside Section 15-1207's broad definition of mortgage and Section 15-1209's definition of mortgagor, this section completes the basic pair of roles that runs through the rest of Article XV.
Frequently Asked Questions
Who is the mortgagee under Article XV?
The holder of the indebtedness or obligee of a non-monetary obligation secured by the mortgage, or a person authorized to act on that holder's behalf, and any successor claiming through a mortgagee.
Does an authorized agent of the lender count as mortgagee?
Yes, the definition covers any person designated or authorized to act on behalf of the holder.
Does a successor in interest qualify as mortgagee?
Yes, the definition expressly includes any person claiming through a mortgagee as a successor.
How does mortgagee differ from mortgagor?
The mortgagee holds the secured debt or obligation, while Section 15-1209 defines the mortgagor as the person whose interest in the real estate is subject to the mortgage.
Is the obligation secured by a mortgage always monetary?
No, the definition also covers an obligee of a non-monetary obligation secured by a mortgage.
Amendment History
(Source: P.A. 84-1462.)
Source & verification. Section text and amendment history are
reproduced verbatim from the Illinois Compiled Statutes, published by the
Illinois Compiled Statutes, Illinois General Assembly / Legislative Reference Bureau. Last verified July 20, 2026.
· Official source
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