What happened to the glycerol formed during the saponification reaction?

This is what happen the fatty acid by itself and the glycerol by itself are both water soluble because of the polar oxygen atoms on the ends of these molecules. Saponification is the term applied to the hydrolysis of fats using a strong alkali like lye. Glycerol (aka glycerine) is simply a tri-alcohol, i. e. an alcohol with three OH groups. It has chemistry similar to that of ethanol.