The term "mortgage lender" refers to a financial institution or individual that provides a loan for the purpose of purchasing property, with the condition that the loan is secured by the property itself. In other words, if the borrower fails to repay the loan as agreed, the mortgage lender can take possession of the property and sell it to recover their losses. Mortgage lenders typically require borrowers to meet certain creditworthiness standards and provide documentation of their income and assets before approving a loan.