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HELP: What does a mortgage aggregator do?

  • 18-09-2012 2:17pm
    #1
    scouser82
    Registered Users, Registered Users 2 Posts: 100 ✭✭


    I'm starting a job next week as an accountant for a mortgage aggregation company, but I have absolutely no idea what mortgage aggregation is. I've researched the internet and the company's website but none of it makes any sense to me. :( Every explanation is just a jumble of buzz words that go off on tangents. I know I don't need to know every intricate detail but it is important that I have a broad basic understanding of what a mortgage aggregator does when I start the job.

    Can anybody please explain to me (in simple words in plain everyday english) what mortgage aggregation is? Think of this as a sort of "Mortgage Aggregation for Dummies" lecture. :)

    Not sure if this is the correct forum for this but on first glance appears to be the best one to post it in.

    Thanks a mill.


Comments

  • #2
    Peterdalkey
    Closed Accounts Posts: 2,091 ✭✭✭Peterdalkey


    My understanding is they bulk collect up mortgages from brokers, lump them together and then buy the finance at a discount. They get a lower price from the market because the deal size is bigger, They take a cut for themselves too!


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