Mortgage itself is a combination of two words:
* Mort (from Old French, meaning "death")
* Gage (from Old French, meaning "pledge")
So, a mortgage is literally a "death pledge," referring to the fact that if the borrower fails to repay the loan, they could lose their property (which is the "pledge").
Mortgagee is the person or entity who holds the mortgage (i.e., the lender).