HELP: What does a mortgage aggregator do?

scouser82

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.

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!