can you add lenders mortgage insurance to your loan
5. Your lender requires you to have mortgage insurance so that if you can no longer make payments on your home, the lender will still get paid (through the insurance policy). Mortgage insurance basically safeguards the lender in the event of borrower default.ortgage lenders make many borrowers purchase mortgage insurance to protect the lender if the borrower is unable to pay the mortgage. In other words, mortgage insurance guarantees your lender will get paid if you default.