Heck yeah! The auction company is STOKED. They pocketed 5% per tranny, probably are TOTALLY indemnified on each transaction, and I would bet that even if the transaction crashes and burns the auction company still gets some sort of fee per transaction… It wouldn’t surprise me if there was also alot of up front monies just to hold the auction, advertising, etc… That of course is speculative on my part.
Piggingtonians I am sure, have no tears to shed to see the lenders get bent over the barstool a little bit by someone else for a change.
