The state of the mortgage industry is rife with concern as elevated rates and low inventory have stunted both refinance and origination activity. As a result, the makeup of the mortgage ecosystem is shifting.
Private correspondent aggregators play an essential role in the upkeep of a balanced mortgage ecosystem. While this term may be unfamiliar to many, a private correspondent aggregator is a fancy title for an entity that purchases mortgages and repackages the loans into mortgage-backed securities.
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