ALAMO, Calif. and LOS ANGELES — Finance companies from Michigan and Pennsylvania and auto dealerships from Texas and North Carolina are among the latest companies to post seasoned auto loan portfolios for purchase using Global Debt Network Automotive (GDNAuto), the company announced.

GDNAuto is the first online loan portfolio transaction platform where automobile dealers, banks, credit unions, finance companies, hedge funds and other financial institutions can come together to securely evaluate, price, sell and purchase asset-backed debt.

"At a time when auto finance is undergoing a period of intense and rapid change, GDNAuto brings transparency, efficiency and cost savings to transactions involving asset-backed auto debt," said Michael Sheridan, founder and president of GDNAuto. "Both portfolio buyers and sellers are finding that GDNAuto provides valuable pricing data and opens the door to new opportunities to improve liquidity."

Among the portfolios currently listed on GDNAuto:

· A $24 million subprime auto loan portfolio is offered by a

Michigan-based finance company. The 2,048 loans have been seasoned an average of 14 months and carry a weighted average APR of 22 percent.

· A $4.8 million portfolio of 408 subprime loans seasoned for an

average of four months is listed by a finance company based in Pennsylvania. The loans have a weighted average APR of 21 percent.

· A Texas auto dealership is offering a portfolio of 164 seasoned

loans valued at $3.6 million. The subprime loans have been seasoned an average of six months and have a weighted average APR of 23 percent.

· An auto dealership in North Carolina has posted a portfolio of

nine loans seasoned an average of nine months and with a weighted average APR of 25 percent. This subprime portfolio is valued at $21,000.

Developed and tested in collaboration with automobile dealers, dealer associations and portfolio buyers, GDNAuto uses an innovative online control panel that enables loan originators or portfolio owners to list and price the seasoned loans they want to sell to pre-screened banks, credit unions and other investors.