What term describes the amount paid by a mortgagor for mortgage insurance?

The term that describes the amount paid by a mortgagor for mortgage insurance is indeed the mortgage insurance premium. This premium is often required by lenders as a way to protect themselves in case the borrower defaults on the loan. Mortgage insurance is particularly common for loans with low down payments because it mitigates the lender's risk.

When borrowers do not have a significant equity stake in the property, the insurance offers a safeguard for the lender by ensuring that they can recover some of their losses should the borrower fail to make payments. The mortgage insurance premium is typically added to the monthly mortgage payment or can sometimes be paid upfront.

In contrast, other terms such as loan origination fee refers to the fee charged by lenders for processing a new loan application, while interest rate margin pertains to the difference between the interest rate a mortgage lender charges and the rate that lenders pay to borrow money. Principal payment refers to the portion of the mortgage payment that goes towards reducing the loan balance. Each of these terms serves a different function in the context of a mortgage transaction.